Quick facts: Grove, OK

Quick Facts

90.9
Cost of Living
below US average
7,215
Population
33.54
Crime Rate per 1000
above US average
$56,469
Median Income
below US average
$274,900
Median House Price
above US average
$1200.0
Average Rent
below US average
11%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $56,469.

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Income Needed to Buy

βœ— Stretch
$86k/year
Based on $274,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $86k vs median $56,469
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Income Needed to Rent

βœ“ Affordable
$51k/year
Based on $1200.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($56,469) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Grove, OK

Grove, located in northeastern Oklahoma, is a charming city nestled along the shores of Grand Lake O' the Cherokees. Known for its picturesque landscapes and vibrant community, Grove offers a mix of outdoor recreation and small-town charm. The city is popular for boating, fishing, and water sports, attracting visitors to its marinas and parks. Grove has a rich history, with origins as a trading post in the mid-1800s. Today, it boasts a variety of local shops, restaurants, and annual events, fostering a strong sense of community. The local economy is supported by tourism, retail, and services, making it a hub for nearby residents. Nature enthusiasts can explore the nearby Ozark Mountains and enjoy hiking trails, while the city's parks provide ample space for family activities and picnics. The annual Grove Bluegrass Festival draws music lovers and showcases local talent. With a friendly atmosphere and scenic beauty, Grove is an ideal spot for relaxation and outdoor adventures.

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