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Summit

Learn about the people, housing, costs and businesses in Summit, Oklahoma

Median Home$150,299
Median Rent$751/month
Population117
Leading IndustriesProfessional Services · Wholesale Trade · Construction4% professional services
Home Value Growth⬆⬆+15.4% over 2 years
Family-Friendly25% of residentsslightly above average
Homeowners89% of occupied units
NotableTransit85/100 · excellent transit access
NotableAffordable Market$150k median home · lower cost than 74% of the country
Summit
OK

Frequently Asked Questions

What are today's mortgage rates in Summit?

As of today, the 30-year fixed mortgage rate for Summit is approximately 6.859% (6.894% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Summit?

The median home value in Summit is $150k. The median monthly rent is $751. Annual property taxes average $904. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Summit?

Home values in Summit have increased 15.4% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Summit?

Based on a typical all-in ownership cost of $639/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $27k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Summit is $58k/year.

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What industries drive the economy in Summit?

The largest employment sectors in Summit are public administration (19%) and wholesale trade (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.