Mortgage Calculator & Closing Costs: Broken Arrow, OK
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Broken Arrow, Oklahoma.
Median Home Price
$275K
Population
114K
Avg Monthly Rent
$1,220
Property Tax Rate
0.88% *
* Property tax shown is the Oklahoma state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Broken Arrow.
Broken Arrow vs Oklahoma Median
The median home price in Broken Arrow is $275,000, which is 31% above the Oklahoma state median of $210,000.
Mortgage Calculator — Broken Arrow, OK
Pre-filled with Broken Arrow median home price and Oklahoma tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $275K home using Oklahoma's 0.88% tax rate and $3,600/yr insurance.
5% Down
$2,305/mo
Down: $13,750
Loan: $261K
P&I: $1,651
Tax: $202
Insurance: $300
PMI: $152
10% Down
$2,210/mo
Down: $27,500
Loan: $248K
P&I: $1,564
Tax: $202
Insurance: $300
PMI: $144
20% Down (No PMI)
$1,892/mo
Down: $55,000
Loan: $220K
P&I: $1,391
Tax: $202
Insurance: $300
Income needed (28% rule): $81K/year with 20% down, $95K/year with 10% down.
Rent vs Buy in Broken Arrow
Rent
$1,220/mo
vs
Buy (10% down)
$2,210/mo
Price-to-rent ratio: 18.8 — A ratio between 15-20 means the rent vs buy decision in Broken Arrow depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Broken Arrow is $275,000, 31% above the Oklahoma state median of $210,000. With a population of 113,540, Broken Arrow is a mid-size city where home prices reflect strong demand and local economic factors.
Property taxes in Oklahoma average 0.88% annually. This moderate property tax rate means a $275,000 home in Broken Arrow would carry roughly $202/month in property taxes. Homeowners insurance in Oklahoma runs approximately $3,600 per year. Insurance costs are notably high — factor this into your monthly budget.
Average rent in Broken Arrow is $1,220/month. The price-to-rent ratio in Broken Arrow is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Broken Arrow presents moderate affordability. The $275K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Broken Arrow.