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    Oklahoma City, 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 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

    Median Rent Aug 2020 Jan 2021 May 2021 Sep 2021 Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023
    Oklahoma City $791 $807 $821 $874 $893 $899 $950 $962 $960 $976
    National $1,391 $1,395 $1,403 $1,488 $1,584 $1,624 $1,696 $1,713 $1,701 $1,726
    Oklahoma City
    National
    Aug 2020
    $791
    $1,391
    Jan 2021
    $807
    $1,395
    May 2021
    $821
    $1,403
    Sep 2021
    $874
    $1,488
    Nov 2021
    $893
    $1,584
    Mar 2022
    $899
    $1,624
    Jul 2022
    $950
    $1,696
    Nov 2022
    $962
    $1,713
    Mar 2023
    $960
    $1,701
    Jul 2023
    $976
    $1,726
    View as table View as graph
    Access comprehensive real estate data and information on Yardi ® Matrix

    Oklahoma City, Oklahoma| Average apartment rent

    Oklahoma City, Oklahoma | Apartment rent ranges

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

    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**

    Renter occupied housing units
    100,521
    Owner occupied housing units
    146,383

    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**

    No bedrooms 4,356
    1 bed 27,299
    2 beds 36,756
    3 beds 27,323
    4 beds 4,372

    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**

    15 - 24 years 10,018
    25 - 34 years 30,428
    35 - 44 years 20,500
    45 - 54 years 15,325
    55 - 59 years 7,595
    60 - 64 years 5,592
    65 - 74 years 6,491
    75 - 84 years 2,705
    85 years and over 1,867

    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**

    Family households
    47,396
    Non-Family housesholds
    53,125

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

    With related children of the householder under 18
    30,817
    No related children of the householder under 18
    69,704

    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**

    Less than high school graduate 14,940
    High school graduate (including equivalency) 26,032
    Some college or associate's degree 35,975
    Bachelor's degree or higher 23,574

    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**

    Built 2014 or later 4,930
    Built 2010 - 2013 4,507
    Built 2000 - 2009 9,364
    Built 1990 - 1999 9,228
    Built 1980 - 1989 16,383
    Built 1970 - 1979 19,782
    Built 1960 - 1969 12,150
    Built 1950 - 1959 9,067
    Built 1940 - 1949 5,954
    Built 1939 or earlier 9,156

    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**

    Moved in 2017 or later 12,249
    Moved in 2015 to 2016 55,917
    Moved in 2010 to 2014 21,158
    Moved in 2000 to 2009 8,356
    Moved in 1990 to 1999 1,718
    Moved in 1989 or earlier 1,123

    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**

    No vehicle available 12,754
    1 vehicle available 49,780
    2 vehicles available 29,180
    3 vehicles available 6,487
    4 vehicles available 1,560
    5 or more vehicles available 760

    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**

    Car, truck, or van - drove alone 95,224
    Car, truck, or van - carpooled 13,940
    Public transportation (excluding taxicab) 938
    Walked 2,865
    Taxicab, motorcycle, bicycle, or other means 2,415
    Worked at home 3,401

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

    Same house as 1 year ago 161,589
    Moved within same county 46,735
    Moved from different county within same state 12,922
    Moved from different state 12,424
    Moved from abroad 2,195

    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

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