Mustang, Oklahoma Rental Market Trends

Disclaimer:

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 Mustang, Oklahoma rental market.

Mustang, Oklahoma

Average Apartment Rent

$1,173

Y-o-Y Change in Average
Apartment Rent

9.8%

As of July 2024

Compared to a year ago, Mustang, Oklahoma apartments have recorded a 9.8% rent increase.

Mustang, Oklahoma Average apartment rent trend

Median Rent Jul 2021 Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024
Mustang $810 $847 $933 $954 $1,005 $994 $1,068 $1,077 $1,176 $1,173
National $1,491 $1,586 $1,625 $1,697 $1,715 $1,704 $1,729 $1,720 $1,714 $1,739
Mustang
National
Jul 2021
$810
$1,491
Nov 2021
$847
$1,586
Mar 2022
$933
$1,625
Jul 2022
$954
$1,697
Nov 2022
$1,005
$1,715
Mar 2023
$994
$1,704
Jul 2023
$1,068
$1,729
Nov 2023
$1,077
$1,720
Mar 2024
$1,176
$1,714
Jul 2024
$1,173
$1,739

Mustang, Oklahoma Average Apartment Rent

Mustang, Oklahoma Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 67.27%, apartments priced $1,000 - $1,500 represent the bulk of Mustang, Oklahoma rentals, while condos priced $700 - $1000 hold the lowest share of the market – 32.73%.

Mustang, Oklahoma Housing tenure**

Renter occupied housing units 1,725
Owner occupied housing units 5,892

Renters take up 23% of Mustang, Oklahoma real estate, occupying a total of 1,725 units, while homeowners live in 5,892 properties.

Median number of rooms of renter-occupied housing units**

4.8

Renter median household income**

$44,385

Average household size of renter-occupied housing units**

2.71

Rental vacancy rate**

14.3%

Mustang, Oklahoma Renter-occupied housing units by no. of bedrooms**

1 bed 301
2 beds 549
3 beds 746
4 beds 122

There are 746 rentals in Mustang, Oklahoma with 3 beds making up the highest share of the market, at 43%. Units with 4 beds, on the other hand, hold the lowest percentage (7%), amounting to 122 units. Overall, the median number of rooms in Mustang, Oklahoma homes for rent is 4.8.

Mustang, Oklahoma Renter-occupied units by age of householder**

15 - 24 years 97
25 - 34 years 420
35 - 44 years 473
45 - 54 years 184
55 - 59 years 61
60 - 64 years 93
65 - 74 years 147
75 - 84 years 95
85 years and over 155

Most condos for rent in Mustang, Oklahoma are occupied by residents in the 35 - 44 years age group (27%), followed by those in the 25 - 34 years age group (24%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 4%.

Mustang, Oklahoma Renter-occupied housing units by family type**

Family households 1,060
Non-Family Households 665

Mustang, Oklahoma Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 655
No related children of the householder under 18 1,070

A total of 1,060 apartments for rent in Mustang, Oklahoma, or 61% of all rentals are family households. Additionally, 38% of rental homes include children under the age of 18 – that’s 655 units. All in all, the median size of a renter-occupied household in Mustang, Oklahoma is 2.71.

Mustang, Oklahoma Renter-occupied housing units by educational attainment**

Less than high school graduate 300
High school graduate (including equivalency) 639
Some college or associate's degree 515
Bachelor's degree or higher 271

In terms of education, renters holding bachelor degrees or higher make up 16% of the rental market. In contrast, residents with less than a high school degree reside in 17% of the homes for rent in Mustang, Oklahoma.

Mustang, Oklahoma Renter-occupied units by year structure built**

Built 2010 - 2019 160
Built 2000 - 2009 271
Built 1990 - 1999 154
Built 1980 - 1989 530
Built 1970 - 1979 275
Built 1960 - 1969 259
Built 1950 - 1959 38
Built 1940 - 1949 9
Built 1939 or earlier 29

The highest share of Mustang, Oklahoma apartment rentals, namely 31% or 530 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (16%, 275 units), and the ones Built 2000 - 2009 (16%, 271 units).

Mustang, Oklahoma Renter-occupied units by year householder moved in**

Moved in 2021 or later 73
Moved in 2018 to 2020 786
Moved in 2010 to 2017 731
Moved in 2000 to 2009 104
Moved in 1990 to 1999 31

Median year renter moved into unit 2018

Most Mustang, Oklahoma renters (46%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Mustang, Oklahoma condos for rent is 2018.

Mustang, Oklahoma Renter-occupied housing units by vehicles available**

No vehicle available 242
1 vehicle available 660
2 vehicles available 624
3 vehicles available 146
4 vehicles available 38
5 or more vehicles available 15

When it comes to transportation options, 38% of Mustang, Oklahoma renters have 1 vehicle available per household, 36% of them have 2 vehicles available, and 14% have No vehicle available.

Mustang, Oklahoma Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 1,619
Car, truck, or van - carpooled 291
Taxicab, motorcycle, bicycle, or other means 31
Worked at home 11

Mustang, Oklahoma Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 3,739
Moved within same county 489
Moved from different county within same state 293
Moved from different state 124

Mustang, 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 Mustang, 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

Check out rentals available in Mustang, Oklahoma