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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Elgin, OK Housing Affordability Index

Elgin, Oklahoma has an MBR Housing Affordability Index score of 120.0 (Highly Affordable) as of October 30, 2026, ranking 485th most affordable of 555 scored Oklahoma cities, compared with 117.4 statewide and 97.4 nationally. On a median-priced $260,700 home with 20% down, the Oklahoma average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $1,432, or 18% of the city’s $96,250 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Elgin is updated every night from live Oklahoma mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Elgin MBR-HAI 120.0 Highly Affordable
Rank in Oklahoma 485 of 555 1 = most affordable
Oklahoma 117.4 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Oklahoma lenders
Median home value $260,700 U.S. Census Bureau

Elgin is 2.6 points above the Oklahoma score. Scores as of October 30, 2026. See the Oklahoma index

View Elgin Mortgage Rates

What It Takes to Buy in Elgin

$1,432/mo
Principal & Interest
Median home, 20% down, 7.31%
$61,400
Income Needed
To keep the payment at 28% of income
$96,250
Median Household Income
Oklahoma: $65,039
2.7x
Price-to-Income Ratio
Oklahoma: 3.1x
$1,513/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$2,502/yr
Median Property Tax
0.96% of median value
24.8%
Owner Cost Burden
Owners spending 30%+ of income on housing
35.0%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Elgin, Oklahoma. The rate is the Oklahoma average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Elgin Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Elgin, Oklahoma score: 120.0 (Highly Affordable), ranked 485 of 555 Oklahoma cities. monitorbankrates.com/housing-affordability-index/oklahoma/elgin”