Department of Numbers

Oklahoma Residential Rent and Rental Statistics

The median monthly gross residential rent in Oklahoma was $744 in 2016 according to the Census ACS survey.1 Average gross rent was $733 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Oklahoma median and average rent data will be released in September of 2018.

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

Show dollars as: Nominal Real

Real Gross Rent in Oklahoma (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Oklahoma Median Gross Rent $744 -3.25% +4.94%

Oklahoma Real Gross Rent Trends

Median gross rent for Oklahoma peaked in real terms in 2015 at $769 and is now $25 (3.25%) lower. Average gross rent for Oklahoma peaked in real terms in 2015 at $747 and is now $14 (1.87%) lower.

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

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Oklahoma

Date US Median Oklahoma Median Oklahoma Average
2016 $981 $744 $733
2015 $972 $769 $747
2014 $942 $743 $726
2013 $910 $709 $699
2012 $898 $697 $692
2011 $898 $696 $681
2010 $912 $703 $683
2009 $916 $692 $674
2008 $932 $694 $678
2007 $885 $660 $636
2006 $895 $680 $663
2005 $869 $653 $638

Oklahoma Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Oklahoma was 8.08% according to Census ACS data.

Rental Vacancy Rate in Oklahoma

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Oklahoma 8.08% +0.32% -0.11%

Trends in Oklahoma Rental Vacancy Rate

The rental vacancy rate in Oklahoma peaked in 2006 at 10.14%. Since then it has fallen by 2.06% to 8.08%. Data records for this series originated in 2005. From a 2015 post peak low of 7.76%, the rental vacancy rate has increased by 0.32%.

Rental Vacancy Rate: Oklahoma, US

Rental vacancy rate in Oklahoma

Historical Rental Vacancy Rate data for Oklahoma

Date US Oklahoma
2016 5.89% 8.08%
2015 5.85% 7.76%
2014 6.32% 8.12%
2013 6.49% 8.19%
2012 6.77% 8.16%
2011 7.40% 8.52%
2010 8.17% 8.52%
2009 8.43% 8.41%
2008 7.86% 9.18%
2007 7.87% 9.33%
2006 7.70% 10.14%
2005 7.74% 9.97%

Oklahoma Rent as a Fraction of Income

Using median household income data for Oklahoma, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Oklahoma, median monthly gross rent as a fraction of median household income was 18.16% in 2016 according to the ACS.

Oklahoma Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Oklahoma 18.16% -0.60% -0.36%

Trends in Oklahoma Rent as a Fraction of Income

The fraction of median Oklahoma household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 18.80%. Since then it has fallen by 0.64% to 18.16%.

Fraction of Income towards Rent: Oklahoma, US

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

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

Date US Oklahoma
2016 20.43% 18.16%
2015 20.63% 18.75%
2014 20.89% 18.61%
2013 20.78% 18.52%
2012 20.65% 18.58%
2011 20.70% 18.74%
2010 20.50% 18.80%
2009 20.12% 18.32%
2008 19.00% 17.21%
2007 18.66% 16.98%
2006 18.90% 17.95%
2005 18.89% 17.71%

Renter Fraction in Oklahoma

You can calculate the renter fraction in Oklahoma 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 as a fraction of total Oklahoma households. In 2016 35.10% of households were renters according to Census ACS data.

Oklahoma Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Oklahoma 35.10% +0.44% +0.64%

Trends in the Oklahoma Renter Fraction

At 35.10%, the 2016 household based renter fraction in Oklahoma was at its highest level. The origin year for the series is 2005.

Fraction of Renting Households: Oklahoma, US

Fraction of renters in Oklahoma

History of Oklahoma Renter Fraction

Date US Oklahoma
2016 36.88% 35.10%
2015 36.97% 34.66%
2014 36.90% 34.86%
2013 36.50% 34.46%
2012 36.09% 33.62%
2011 35.42% 32.97%
2010 34.65% 32.21%
2009 34.13% 32.81%
2008 33.36% 32.76%
2007 32.80% 31.77%
2006 32.73% 31.39%
2005 33.10% 32.13%

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.