Department of Numbers

Oklahoma City Oklahoma Residential Rent and Rental Statistics

The median monthly gross residential rent in Oklahoma City, OK (the Oklahoma City metro area) was $821 in 2015 according to the Census ACS survey.1 Average gross rent in Oklahoma City was $824 in 2015. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2016 Oklahoma City median and average rent data will be released in September of 2017.

Data is also available below for Oklahoma City rental vacancy rates, Oklahoma City rent as a percent of median income and the fraction of renters in Oklahoma City.

Show dollars as: Nominal Real

Real Gross Rent in Oklahoma City Oklahoma (2015 dollars)2

2015 1 Year Change 3 Year Change
US Median Gross Rent $959 +3.12% +8.24%
Oklahoma Median Gross Rent $759 +3.55% +10.32%
Oklahoma City, OK Median Gross Rent $821 +5.53% +10.65%

Oklahoma City, OK Real Gross Rent Trends

At $821, real median gross rent in Oklahoma City was at its highest level in 2015 since the series began in 2005. At $824, real average gross rent in Oklahoma City was at its highest level in 2015 since the series began in 2005.

Real Gross Rent in Oklahoma City: Oklahoma City OK Median, Oklahoma City OK Average, Oklahoma Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Oklahoma City

Date US
Median
Oklahoma
Median
Oklahoma City, OK
Median
Oklahoma City, OK
Average
2015 $959 $759 $821 $824
2014 $930 $733 $778 $798
2013 $898 $700 $756 $774
2012 $886 $688 $742 $774
2011 $887 $687 $744 $756
2010 $901 $694 $751 $756
2009 $905 $683 $740 $755
2008 $920 $686 $745 $753
2007 $874 $651 $697 $708
2006 $883 $671 $719 $730
2005 $858 $645 $688 $707

Oklahoma City Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2015 the rental vacancy rate for Oklahoma City Oklahoma was 7.77% according to Census ACS data.

Rental Vacancy Rate in Oklahoma City Oklahoma

2015 1 Year Change 3 Year Change
US 5.85% -0.47% -0.92%
Oklahoma 7.76% -0.36% -0.40%
Oklahoma City, OK 7.77% -0.31% +0.92%

Trends in Oklahoma City, OK Rental Vacancy Rate

The rental vacancy rate in Oklahoma City peaked in 2006 at 11.17%. Since then it has fallen by 3.40% to 7.77%. Data records for this series originated in 2005. From a 2013 post peak low of 6.23%, the rental vacancy rate has increased by 1.54%.

Rental Vacancy Rate: Oklahoma City OK, Oklahoma, US

Rental vacancy rate in Oklahoma

Historical Rental Vacancy Rate data for Oklahoma City

Date US Oklahoma Oklahoma City, OK
2015 5.85% 7.76% 7.77%
2014 6.32% 8.12% 8.08%
2013 6.49% 8.19% 6.23%
2012 6.77% 8.16% 6.85%
2011 7.40% 8.52% 8.72%
2010 8.17% 8.52% 8.41%
2009 8.43% 8.41% 8.02%
2008 7.86% 9.18% 9.27%
2007 7.87% 9.33% 10.57%
2006 7.70% 10.14% 11.17%
2005 7.74% 9.97% 8.86%

Rent as a Fraction of Income

Using median household income data for Oklahoma City, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Oklahoma City, median monthly gross rent as a fraction of median household income was 18.87% in 2015 according to the ACS.

Oklahoma City Oklahoma Median Annual Rent as a Fraction of Median Household Income

2015 1 Year Change 3 Year Change
US 20.63% -0.26% -0.02%
Oklahoma 18.75% +0.15% +0.18%
Oklahoma City, OK 18.87% +0.96% +0.58%

Trends in Oklahoma City, OK Rent as a Fraction of Income

Oklahoma City renters paid 18.87% of median household income towards the median monthly gross rent in 2015. This is the highest fraction of median household income going to rent since the series originated in 2005.

Fraction of Income towards Rent: Oklahoma City OK, Oklahoma, US

Percent of median household income going towards median monthly gross rent in Oklahoma City Oklahoma

Historical Data for Annual Rent as a Fraction of Income in Oklahoma City Oklahoma

Date US Oklahoma Oklahoma City, OK
2015 20.63% 18.75% 18.87%
2014 20.89% 18.61% 17.90%
2013 20.78% 18.52% 18.24%
2012 20.65% 18.58% 18.29%
2011 20.70% 18.74% 18.65%
2010 20.50% 18.80% 18.50%
2009 20.12% 18.32% 18.33%
2008 19.00% 17.21% 16.78%
2007 18.66% 16.98% 16.68%
2006 18.90% 17.95% 17.73%
2005 18.89% 17.71% 17.49%

Renter Fraction in Oklahoma City Oklahoma

You can calculate the renter fraction in Oklahoma City in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Oklahoma City as a fraction of total Oklahoma City households. In 2015 36.07% of households were renters according to Census ACS data.

Oklahoma City Fraction of Renters by Household Units

2015 1 Year Change 3 Year Change
US 36.97% +0.07% +0.88%
Oklahoma 34.66% -0.20% +1.04%
Oklahoma City, OK 36.07% -0.69% +0.34%

Trends in the Oklahoma City, OK Renter Fraction

The Oklahoma City household renter fraction peaked in in 2014 at 36.76% and is now 0.69% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Oklahoma City OK, Oklahoma, US

Fraction of renters in Oklahoma City

History of Oklahoma City Renter Fraction

Date US Oklahoma Oklahoma City, OK
2015 36.97% 34.66% 36.07%
2014 36.90% 34.86% 36.76%
2013 36.50% 34.46% 36.58%
2012 36.09% 33.62% 35.73%
2011 35.42% 32.97% 35.05%
2010 34.65% 32.21% 33.81%
2009 34.13% 32.81% 34.67%
2008 33.36% 32.76% 34.16%
2007 32.80% 31.77% 33.42%
2006 32.73% 31.39% 33.14%
2005 33.10% 32.13% 35.28%

1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability.

2. Real dollars are calculated using the CPI-U less shelter series.

3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied.