Broken Arrow, Oklahoma Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Broken Arrow, Oklahoma rental market.
Highlights
An apartment for rent in Broken Arrow, Oklahoma typically goes for $1,191 per month, while a single-family home for rent in Broken Arrow, Oklahoma has a monthly cost of around $1,898. Renter-occupied units make up 28% of the local housing market, while the rental vacancy rate in Broken Arrow, Oklahoma is at 4.2.
Broken Arrow, Oklahoma
Average Apartment Rent
$1,191
Y-o-Y Change in Average
Apartment Rent
8.1%
Average Single-Family Rent
$1,898
As of July 2024
Compared to a year ago, Broken Arrow, Oklahoma apartments have recorded a 8.1% rent increase.
Broken Arrow, Oklahoma Average apartment rent trend
Broken Arrow, Oklahoma Average Apartment Rent
Broken Arrow, Oklahoma Apartment rent ranges
At 69.66%, apartments priced $1,000 - $1,500 represent the bulk of Broken Arrow, Oklahoma rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.94%.
Broken Arrow, Oklahoma Housing tenure**
Renters take up 28% of Broken Arrow, Oklahoma real estate, occupying a total of 11,714 units, while homeowners live in 30,865 properties.
Median number of rooms of renter-occupied housing units**
4.4
Renter median household income**
$55,150
Average household size of renter-occupied housing units**
2.44
Rental vacancy rate**
4.2%
Broken Arrow, Oklahoma Renter-occupied housing units by no. of bedrooms**
There are 4,214 rentals in Broken Arrow, Oklahoma with 2 beds making up the highest share of the market, at 36%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 209 units. Overall, the median number of rooms in Broken Arrow, Oklahoma homes for rent is 4.4.
Broken Arrow, Oklahoma Renter-occupied units by age of householder**
Most condos for rent in Broken Arrow, Oklahoma are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 35 - 44 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Broken Arrow, Oklahoma Renter-occupied housing units by family type**
Broken Arrow, Oklahoma Renter-occupied housing units by the presence of own children**
A total of 6,739 apartments for rent in Broken Arrow, Oklahoma, or 58% of all rentals are family households. Additionally, 36% of rental homes include children under the age of 18 – that’s 4,256 units. All in all, the median size of a renter-occupied household in Broken Arrow, Oklahoma is 2.44.
Broken Arrow, Oklahoma Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 24% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Broken Arrow, Oklahoma.
Broken Arrow, Oklahoma Renter-occupied units by year structure built**
The highest share of Broken Arrow, Oklahoma apartment rentals, namely 22% or 2,602 units, were Built 2010 - 2019, followed by those Built 2000 - 2009 (20%, 2,369 units), and the ones Built 1970 - 1979 (19%, 2,246 units).
Broken Arrow, Oklahoma Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Broken Arrow, Oklahoma renters (47%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Broken Arrow, Oklahoma condos for rent is 2018.
Broken Arrow, Oklahoma Renter-occupied housing units by vehicles available**
When it comes to transportation options, 43% of Broken Arrow, Oklahoma renters have 1 vehicle available per household, 39% of them have 2 vehicles available, and 11% have 3 vehicles available.
Broken Arrow, Oklahoma Means of transportation to work of householders living in renter-occupied housing units**
Broken Arrow, Oklahoma Geographical mobility in the past year for householders living in renter-occupied housing units**
Broken Arrow, Oklahoma Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Broken Arrow, Oklahoma apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
