Norman, OK—73026
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Norman, OK
As of Oct '25, the median home price in Norman, OK is $324,000, with a year-over-year change of 2.7%. This indicates that home prices in Norman, OK are increasing. According to Zillow, the 1-year price projection is 1.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $324,000 | 2.7% |
| Single Family | $325,000 | 2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $208,000 | 0.5% |
3 Bed | $311,000 | 3.0% |
4 Bed | $439,000 | 4.3% |
| 5 Bed | $617,000 | 3.4% |
% of Housing Stock
Rental Trends — Norman, OK
As of July '25, Rentcast reports the average rent in Norman, OK is $2,120, with a year-over-year rent change of 17.8%. Per bedroom, the median rent as of July '25 in Norman, OK is 3-bedrooms: $2,080, 4-bedrooms: $2,140. The most common rental property sizes in Norman, OK are 3-bedroom and 4-bedroom, accounting for 63.2% and 21.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,060 | $2,120 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,060 | $2,080 |
| 4 Bed Rent | $1,750 | $2,140 |
% of Rental Stock
Property Listings — Norman, OK
As of Oct '25, Realtor.com reports that the median days on market for a home in Norman, OK is 71. This is a increase of 5.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $338,000 | -3.0% |
Listing Count | 85 | 22.0% |
| Listings as % of Homes | 1.2% | 22.0% |
Days on Market | 71 | 5.0% |
Demographics — Norman, OK
As of the latest ACS Survey released in 2023, Norman, OK has a population of 11,100, which has increased by 7.7% over the past 5 years. Norman, OK is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 35.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,100 | 7.7% |
% Under 18 | 20.2% | 0.5% |
% Seniors | 21.4% | 31.3% |
% WFH | 9.4% | 176.5% |
% w/ College Degree | 35.3% | 42.3% |
As of the latest ACS Survey released in 2023, Norman, OK is a predominantly white area, with 80.8% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Norman, OK is hispanic, making up 3.5% of the population. Foreign-born residents account for 1.2% of the population in Norman, OK, and this percentage has decreased by 7.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 80.8% | -5.4% |
% Black | 0.7% | -22.2% |
% Hispanic | 3.5% | 6.1% |
% Asian | 0.4% | 0.0% |
% Foreign Born | 1.2% | -7.7% |
Mortgage and Risk — Norman, OK
According to HUD data as of 2023, there were 165 mortgage originations in Norman, OK, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Norman, OK. Investor activity is low, as 2.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 165 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Norman, OK
Norman, OK lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $980 |
| 2 Bedroom | N/A | N/A | $1,200 |
| 3 Bedroom | -$460 | $2,060 | $1,600 |
| 4 Bedroom | $0 | $1,750 | $1,750 |
Affordability — Norman, OK
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $324,000 |
| Median Household Income | $98,700 |