The top rental markets in Oklahoma are Oklahoma City, Tulsa, Lawton, and Norman.
The TurboTenant Report includes analysis of the average number of leads per property, the average number of days on market, average rent price, median sale price, median income, security deposit trends and livability score.
Oklahoma Rental Trends:
Oklahoma is in the South Central region of the U.S. – its economy historically and still to this day is a major producer of natural gas, oil, and agriculture. With hundreds of lakes, cities, small-towns, and great food, renters love the affordable living and amenities in Oklahoma. Here are some highlights from the top rental markets in the Sooner State.
Days on Market:
The city with the lowest days on market is Oklahoma City at 14 – a day under the national average which sits at 15 days; Norman has the highest number of days on market at 29.
The top three towns for the largest amount of leads per listing are above the national average sitting at 38. Here they are:
- Lawton – 49 leads per listing
- Tulsa – 45 leads per listing
- Oklahoma City – 41 leads per listing
Average Rent: (2 bedroom listings)
With the national average rent at $1,207 for a two-bedroom, Lawton comes below that with the lowest average rent of $644 for a two-bedroom compared to the highest rent in Oklahoma at $819 in Tulsa.
Median Home Sale Price:
According to data from Redfin, which is a national real estate brokerage company, the national median home sale price sits at $306,400. Oklahoma’s highest median sale price comes below that at $184,000 in Oklahoma City with its lowest median sale price at $82,000 in Lawton.
Oklahoma’s median income rings in at $43,340 – below the national average at $48,500.
Security Deposit Trends:
Security deposits have both risen and fallen in Oklahoma’s cities between 2018 and 2019. With the largest being an increase of 43.75% in Lawton at $575, and the largest decrease at -64.29% in Norman with the current average at around $250 – far below the national average for security deposits which is $1,200.
All of Oklahoma’s cities have a livability score of 69 or higher with the highest being Norman at 81!
Please visit here for our full methodology.
Whether you’ve found the best investment property in these top rental markets, or somewhere else, TurboTenant can help streamline your rental process with easy and free online rental applications as well as thorough tenant screening so you can find the best renter for your property.