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  4. /Norman, OK - 73072

Norman, OK—73072

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$323,000
1.3% YoY Growth
Household Income
$76,900
17.4% YoY Growth
Days on Market
43
6.0% Shorter YoY
Home Price Forecast
1.3%
Median Rent
$1,580
4.2% YoY Growth
1-Bed Rent
$869
25.9% YoY Growth
2-Bed Rent
$1,100
27.8% YoY Growth
3-Bed Rent
$1,700
11.2% YoY Growth

Other Zip Codes in Norman, OK

730717306973026
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Norman, OK

As of May '26, the median home price in Norman, OK is $323,000, with a year-over-year change of 1.3%. This indicates that home prices in Norman, OK are increasing. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$323,0001.3%
Single Family $329,0001.2%
Condos $135,0003.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed

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  • Affordability
  • Rentals and Section 8
    • $107,000
    1.9%
    2 Bed
    		$184,0000.0%
    3 Bed
    		$280,0001.1%
    4 Bed
    		$420,0000.7%
    5 Bed $616,3501.2%
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    % of Housing Stock

    Studio
    1.8%
    1 Bedroom
    13.1%
    2 Bedrooms
    21.7%
    3 Bedrooms
    39.9%
    4 Bedrooms
    20.8%
    5+ Bedrooms
    2.8%

    Rental Trends — Norman, OK

    As of July '25, Rentcast reports the average rent in Norman, OK is $1,730, with a year-over-year rent change of 4.2%. Per bedroom, the median rent as of July '25 in Norman, OK is 1-bedrooms: $1,080, 2-bedrooms: $1,380, 3-bedrooms: $1,880, 4-bedrooms: $2,380. The most common rental property sizes in Norman, OK are 2-bedroom and 1-bedroom, accounting for 39.6% and 26.5% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,580$1,730
    Studio Rent N/AN/A
    1 Bed Rent $869$1,080
    2 Bed Rent $1,100$1,380
    3 Bed Rent $1,700$1,880
    4 Bed Rent $2,250$2,380
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    % of Rental Stock

    Studio
    2.9%
    1 Bedroom
    26.5%
    2 Bedrooms
    39.6%
    3 Bedrooms
    25.3%
    4 Bedrooms
    5.2%
    5+ Bedrooms
    0.4%

    Property Listings — Norman, OK

    As of May '26, Realtor.com reports that the median days on market for a home in Norman, OK is 43. This is a decrease of -6.0% from last year, suggesting that homes are sitting on the market shorter 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.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$450,0006.0%
    Listing Count
    		2467.0%
    Listings as % of Homes0.6%7.0%
    Days on Market
    		43-6.0%
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    Demographics — Norman, OK

    As of the latest ACS Survey released in 2023, Norman, OK has a population of 50,500, which has increased by 8.2% over the past 5 years. Norman, OK is a moderately popular place for families, as children make up 16.7% of the population. The area has a highly educated workforce, with 53.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.0% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		50,5008.2%
    % Under 18
    		16.7%-7.7%
    % Seniors
    		15.3%10.9%
    % WFH
    		9.0%55.2%
    % w/ College Degree
    		53.4%6.8%
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    As of the latest ACS Survey released in 2023, Norman, OK is a predominantly white area, with 71.9% of the population identifying as white. The white population has shrunk by 1.1% in the last 5 years. The second most common race or ethnicity in Norman, OK is hispanic, making up 8.4% of the population. Foreign-born residents account for 7.1% of the population in Norman, OK, and this percentage has decreased by 19.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		71.9%-1.1%
    % Black
    		3.6%2.9%
    % Hispanic
    		8.4%12.0%
    % Asian
    		6.3%-1.6%
    % Foreign Born
    		7.1%-19.3%
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    Mortgage and Risk — Norman, OK

    According to HUD data as of 2023, there were 551 mortgage originations in Norman, OK, of which 82.0% of loans were conventional mortgages. The average loan-to-value was 65.0%, with 24.0% above 90% LTV (very high). This implies large mortgage risk in Norman, OK. Investor activity is low, as 5.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		551
    % Conventional Loans
    		82.0%
    % Government Loans
    		18.0%
    % Investor Loans
    		5.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Norman, OK

    As of 2024, the percent of homes in Norman, OK under the Section 8 program is 3.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Norman, OK, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		390
    Total Units Section 8
    		351
    % Rentals under Section 8
    		3.7%
    % Occupied Section 8
    		87.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$121$869$990
    2 Bedroom$120$1,100$1,220
    3 Bedroom-$70$1,700$1,630
    4 Bedroom-$470$2,250$1,780

    Affordability — Norman, OK

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.9
    Median Home Price$323,000
    Median Household Income$76,900

    Norman, OK — ZIP Code Boundary Map

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    Frequently Asked Questions