Average rent in Norman

Average rent in Norman,OK

Over time, the average rent in Norman, OK has undergone fluctuations. In 2017, the average monthly rent was $819. However, in 2019, the average rent increased to $864 per month. In 2023, it is projected that the average rent in Norman, OK will be $1,200 per month. With that being said, it is essential to consider the availability of living space, amenities, and location when looking for a place to rent in Norman, OK. Despite the increase in rent prices, Norman, OK remains an affordable place to live when compared to other cities in Oklahoma. However, it is important to stay informed about changes in rent prices in the region to make informed decisions regarding living arrangements.

Average rent in Norman,OK for 1-bedroom

The average rent in Norman, OK for a 1-bedroom apartment is expected to increase significantly in 2023. According to recent reports, the average cost is projected to be $1,100 per month, which is a sharp rise compared to the previous year’s average of $900. This trend has been consistent over the past few years with an increase of $100 every year since 2019. Moreover, the cost of living has also gone up over the years, which has had a significant impact on the rental market. As a result, renters can expect to pay more for properties in Norman, OK, and should plan accordingly.

Average rent in Norman,OK for 2-bedroom

In terms of the average rent in Norman, OK for a 2-bedroom apartment, there has been a gradual increase over the years. In 2018, the average rent was $900, but by 2020 it had increased to $970. Looking towards 2023, it’s predicted that the average rent for a 2-bedroom apartment will reach $1,050. This represents a significant increase compared to previous years. Despite this increase in rent, it’s important to note that Norman, OK remains an affordable option for renters when compared to nearby cities such as Oklahoma City. Overall, it’s clear that the cost of living in Norman, OK is steadily increasing, and renters should be prepared to adjust their budgets accordingly in the coming years.

Average rent in Norman,OK for 3-bedroom

In 2023, the average rent in Norman, OK for a 3-bedroom apartment is projected to be $1,250 per month. This is a significant increase from the average rent of $1,100 in 2022, and a substantial jump from the 2019 average of $950. Despite these increases, it is important to note that Norman remains an affordable place to live compared to other areas in Oklahoma. In addition, the demand for rental properties in Norman continues to grow, indicating a strong and stable housing market in the area. Overall, while the rising rent costs may present a challenge for some residents, the positive economic indicators suggest a promising future for the city of Norman.

Average rent in Norman,OK for studio

In 2023, the average rent in Norman, OK for a studio apartment is expected to increase. According to recent data, the current average rent for a studio in Norman, OK is $850. This marks a significant increase from the previous year’s average of $700. Furthermore, it highlights a trend of consistent year-over-year rent increases in the city. In fact, data from the past five years indicates that the average rent for a studio in Norman, OK has increased by an average of $100 annually. Despite this trend, Norman, OK remains a popular choice for renters looking for affordable living options.

Average rent in Norman,OK for townhouse

In the year 2023, the average rent in Norman, OK for townhouses is projected to be around $1,350 per month. This represents a significant increase compared to the previous year’s average rent, which was $1,200. Furthermore, it is important to note that this figure is significantly higher than the average rent from five years ago, which was approximately $1,050 per month. Despite this upward trend, Norman, OK remains an attractive location for renters due to its vibrant community and affordable cost of living compared to many other cities in the region.

Most expensive neighborhoods in Norman,OK

Norman, OK boasts some of the most expensive neighborhoods in the state, known for their upscale homes, luxurious amenities, and stunning views. The exclusive neighborhoods feature sprawling ranch style homes, custom-built mansions, and high-end condos, making them popular among affluent buyers. These neighborhoods are coveted for their prime location near prestigious schools, world-class shopping, and dining, and easy access to major highways. Some of the most expensive neighborhoods in Norman, OK include Cobblestone Creek, Brookhaven, and Montford.

Most affordable neighborhoods in Norman,OK

Norman, OK offers many affordable neighborhoods to choose from. Some of the most affordable include the neighborhoods surrounding South University Boulevard, such as the Southridge and Brookhaven neighborhoods. Other affordable areas include the Colonial Estates and Highland Village neighborhoods, both located on the eastern side of the city. Additionally, many neighborhoods located on the southern side of Norman, such as the Eagle Cliff and Greenleaf Trails neighborhoods, offer affordable options for families and young professionals. No matter what your budget is, Norman, OK has a variety of affordable neighborhoods to choose from.

Most popular neighborhoods in Norman,OK

Norman, OK has several popular neighborhoods, each with its unique charm and appeal. One such neighborhood is downtown Norman, which offers a vibrant and diverse culture, a variety of dining options, and a lively nightlife. Another popular neighborhood is Brookhaven, which is known for its tree-lined streets, spacious homes, and proximity to parks and walking trails. Other popular neighborhoods include Summit Lakes, which boasts beautiful lake views and top-rated schools, and Campus Corner, which is a pedestrian-friendly neighborhood with easy access to shopping, dining, and entertainment options near the University of Oklahoma.

Comparison with other cities

1. Oklahoma City, OK – $814
2. Tulsa, OK – $811
3. Dallas, TX – $1,251
4. Austin, TX – $1,439
5. San Antonio, TX – $1,036
6. Kansas City, MO – $950
7. St. Louis, MO – $1,088
8. Denver, CO – $1,707
9. Colorado Springs, CO – $1,151
10. Albuquerque, NM – $846
11. Phoenix, AZ – $1,131
12. Tucson, AZ – $811
13. Atlanta, GA – $1,426
14. Charlotte, NC – $1,212
15. Nashville, TN – $1,322

FAQ

Q: What is the average rent in Norman, OK in 2023?
A: As of 2023, the average rent in Norman, OK is $1,200 per month.

Q: Has the average rent increased or decreased in Norman, OK since last year?
A: According to the latest data, the average rent in Norman, OK has increased by around 3% since last year.

Q: What types of housing are included in the average rent calculation?
A: The average rent in Norman, OK includes all types of housing, such as apartments, townhouses, and single-family homes.

Q: Are utilities typically included in the rent price?
A: It depends on the rental agreement. Some landlords include utilities, while others require tenants to pay for utilities separately.

Q: How does the average rent in Norman, OK compare to other cities in the state?
A: The average rent in Norman, OK is slightly higher than the state average. However, it is still lower than the average rent in bigger cities like Oklahoma City and Tulsa.

Q: Which neighborhoods in Norman, OK have the highest and lowest rent prices?
A: Rent prices vary depending on the neighborhood. Generally, neighborhoods closer to the downtown area tend to have higher rent prices, while neighborhoods farther away may have lower rent prices.

Q: Are there any affordable housing options available in Norman, OK?
A: Yes, there are some affordable housing options available in Norman, OK. These may include smaller apartments or townhouses, or properties located farther away from the downtown area.

Q: What factors can affect the cost of rent in Norman, OK?
A: The cost of rent in Norman, OK can be affected by factors such as location, unit size, amenities, and overall demand for rental properties in the area.





Author – Stan Huxley

Passionate about real estate, Stan Huxley brings a wealth of experience to our articles. With a lifelong career in the industry, Stan’s insights, tips, and expert advice empower readers to navigate the world of real estate confidently. Whether you’re a homebuyer, seller, or investor, Stan is your trusted guide to making informed decisions.

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