Cost of Living in Velma, OK
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
89.4
100 = national avg
-10.6 vs national average
Living Wage (1 Adult)
$39,322
per year
Living Wage (Family of 4)
$92,942
per year
Cost Index by Category
Housing77.9
Food97.2
Transportation94.5
Healthcare97.8
Utilities93.9
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$779
per month
2 Bedroom
$937
per month
The overall cost of living index in Velma is 89.4, which is 10.6% below the national average. Housing costs are below the national average at an index of 77.9. A single adult needs to earn approximately $39,322 per year to cover basic expenses.