Oklahoma City, 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 Oklahoma City, Oklahoma rental market.
Highlights
An apartment for rent in Oklahoma City, Oklahoma typically goes for $976 per month, while a single-family home for rent in Oklahoma City, Oklahoma has a monthly cost of around $1,810. Renter-occupied units make up 41% of the local housing market, while the rental vacancy rate in Oklahoma City, Oklahoma is at 9.
Oklahoma City, Oklahoma
Average Apartment Rent
$976
Y-o-Y Change in Average
Apartment Rent
2.4%
Average Single-Family Rent
$1,810
As of July 2023
Compared to a year ago, Oklahoma City, Oklahoma apartments have recorded a 2.4% rent increase.
Oklahoma City, Oklahoma |Average apartment rent trend
Oklahoma City, Oklahoma| Average apartment rent
Oklahoma City, Oklahoma | Apartment rent ranges
At 51.95%, apartments priced $700 - $1000 represent the bulk of Oklahoma City, Oklahoma rentals, while condos priced Under $500 hold the lowest share of the market – 0.31%.
Oklahoma City, Oklahoma | Housing tenure**
Renters take up 41% of Oklahoma City, Oklahoma real estate, occupying a total of 100,521 units, while homeowners live in 146,383 properties.
Median number of rooms of renter-occupied housing units**
4.3
Renter median household income**
$37,211
Average household size of renter-occupied housing units**
2.39
Rental vacancy rate**
9%
Oklahoma City, Oklahoma | Renter-occupied housing units by no. of bedrooms**
There are 36,756 rentals in Oklahoma City, Oklahoma with 2 beds making up the highest share of the market, at 37%. Units with No bedrooms, on the other hand, hold the lowest percentage (4%), amounting to 4,356 units. Overall, the median number of rooms in Oklahoma City, Oklahoma homes for rent is 4.3.
Oklahoma City, Oklahoma |Renter-occupied units by age of householder**
Most condos for rent in Oklahoma City, Oklahoma are occupied by residents in the 25 - 34 years age group (30%), 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 – 2%.
Oklahoma City, Oklahoma | Renter-occupied housing units by family type**
Oklahoma City, Oklahoma | Renter-occupied housing units by the presence of own children**
A total of 47,396 apartments for rent in Oklahoma City, Oklahoma, or 47% of all rentals are family households. Additionally, 31% of rental homes include children under the age of 18 – that’s 30,817 units. All in all, the median size of a renter-occupied household in Oklahoma City, Oklahoma is 2.39.
Oklahoma City, Oklahoma | Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 23% of the rental market. In contrast, residents with less than a high school degree reside in 15% of the homes for rent in Oklahoma City, Oklahoma.
Oklahoma City, Oklahoma | Renter-occupied units by year structure built**
The highest share of Oklahoma City, Oklahoma apartment rentals, namely 20% or 19,782 units, were Built 1970 - 1979, followed by those Built 1980 - 1989 (16%, 16,383 units), and the ones Built 1960 - 1969 (12%, 12,150 units).
Oklahoma City, Oklahoma | Renter-occupied units by year householder moved in**
Median year renter moved into unit2016
Most Oklahoma City, Oklahoma renters (56%) moved in 2015 to 2016, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Oklahoma City, Oklahoma condos for rent is 2016.
Oklahoma City, Oklahoma | Renter-occupied housing units by vehicles available**
When it comes to transportation options, 50% of Oklahoma City, Oklahoma renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 13% have No vehicle available.
Oklahoma City, Oklahoma | Means of transportation to work of householders living in renter-occupied housing units**
Oklahoma City, Oklahoma |Geographical mobility in the past year for householders living in renter-occupied housing units**
Oklahoma City, 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 Oklahoma City, 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, 2020 American Community Survey 5-Year Estimates
