Mustang is considered moderately affordable in 2025, with average rent for a 2-bedroom apartment at $1,450 and slightly lower grocery costs compared to the national average.
Housing Costs in Mustang
Mustang offers a mix of housing options, from apartments and townhomes to single-family homes. Rental prices for a 2-bedroom apartment typically range from $1,200 to $1,700 per month, with an average around $1,450. Buying a 3-bedroom house in Mustang costs between $250,000 and $400,000, depending on the neighborhood and property features.
Some of the more affordable neighborhoods for renting include Mustang North and Mustang Estates, while higher-end rentals can be found in Mustang Trails and Mustang Creek. For homebuyers, popular neighborhoods like Chisholm Trails and Mustang Crossing offer a variety of home styles and sizes at different price points.
Many neighborhoods in Mustang have homeowners associations (HOAs), which can add $100 to $300 per month to housing costs. However, these fees often cover amenities like community pools, parks, and maintenance of common areas.
Utilities and Energy Bills
Basic utilities in Mustang, including electric, gas, water, and trash, average around $250 per month for a 2-bedroom apartment. Expect higher cooling costs during the hot Oklahoma summers, which can push electric bills up by $50 to $100 per month.
| Utility | Average Monthly Cost |
|---|---|
| Electric | $120 |
| Gas | $50 |
| Water & Sewer | $60 |
| Trash | $20 |
Groceries and Daily Expenses
Grocery costs in Mustang are slightly lower than the national average. A single person can expect to spend around $300 per month on groceries, while a family of four may spend closer to $900. Dining out at a mid-range restaurant costs about $15 per person, with fast food meals averaging $8.
Here’s a price comparison for a typical grocery basket in Mustang:
- Gallon of milk: $3.50
- Loaf of bread: $2.25
- Dozen eggs: $2.00
- Pound of chicken breast: $3.50
Taxes and Hidden Fees
Mustang’s property tax rate is around 1.1%, which is slightly higher than the national average but lower than some nearby cities like Oklahoma City. For a $300,000 home, annual property taxes would be approximately $3,300.
Oklahoma has a state sales tax of 4.5%, and Mustang adds a local sales tax of 4%, bringing the total to 8.5%. Vehicle registration fees are based on the vehicle’s value and age, with an average annual cost of $100 to $200.
Monthly Budget Summary
| Household | Estimated Monthly Budget |
|---|---|
| Single Person | $2,500 – $3,000 |
| Couple | $3,500 – $4,200 |
| Family of Four | $5,000 – $6,000 |
Note that these are gross monthly income estimates (pre-tax) and may vary based on lifestyle and housing choices.
Lifestyle Considerations
Mustang offers a suburban lifestyle with relatively short commutes to Oklahoma City, where many residents work. The average one-way commute is about 25 minutes. Mustang has a good selection of parks, trails, and community events that contribute to a family-friendly atmosphere.
While housing costs in Mustang are generally lower than in Oklahoma City proper, residents may trade off some convenience and proximity to urban amenities. Newer homes in Mustang’s growing neighborhoods often come with higher price tags and HOA fees, while older homes in established areas may offer more affordability but fewer modern features.
Frequently Asked Questions
Q: How much do I need to earn to live comfortably in Mustang?
A: A comfortable lifestyle in Mustang may require a gross monthly income of around $3,000 for a single person, $4,200 for a couple, or $5,500 for a family of four. Keep in mind that these are pre-tax figures.
Q: Is Mustang more affordable than Oklahoma City?
A: In general, Mustang offers slightly lower housing costs and property taxes compared to Oklahoma City. However, some amenities and conveniences may be more limited in the suburban setting.
Q: What are the top three costs that surprise newcomers to Mustang?
A: Many people are surprised by the impact of HOA fees on monthly housing costs, the higher cooling bills during summer months, and the added expense of commuting to Oklahoma City for work.
Q: Are there ways to save on monthly expenses in Mustang?
A: Choosing a home without an HOA, opting for energy-efficient appliances, and [comparing moving company costs and options](https://indexyard.com/best-moving-companies-guide/) when relocating can help save on monthly expenses in Mustang.
Q: How do Mustang’s living costs compare to other nearby cities?
A: Mustang is generally more affordable than Edmond and Norman, two other popular Oklahoma City suburbs. However, it may be slightly pricier than smaller towns like Yukon or El Reno.