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 $801 in 2016 according to the Census ACS survey.1 Average gross rent in Oklahoma City was $824 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 City median and average rent data will be released in September of 2018.

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 (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 City, OK Median Gross Rent $801 -3.73% +4.57%

Oklahoma City, OK Real Gross Rent Trends

Median gross rent for Oklahoma City peaked in real terms in 2015 at $832 and is now $31 (3.73%) lower. Average gross rent for Oklahoma City peaked in real terms in 2015 at $835 and is now $11 (1.32%) lower.

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
2016 $981 $744 $801 $824
2015 $972 $769 $832 $835
2014 $942 $743 $788 $809
2013 $910 $709 $766 $784
2012 $898 $697 $752 $784
2011 $898 $696 $754 $766
2010 $912 $703 $761 $766
2009 $916 $692 $750 $765
2008 $932 $694 $754 $762
2007 $885 $660 $706 $717
2006 $895 $680 $728 $740
2005 $869 $653 $697 $716

Oklahoma City 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 City Oklahoma was 8.56% according to Census ACS data.

Rental Vacancy Rate in Oklahoma City Oklahoma

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Oklahoma 8.08% +0.32% -0.11%
Oklahoma City, OK 8.56% +0.79% +2.33%

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 2.61% to 8.56%. Data records for this series originated in 2005. From a 2013 post peak low of 6.23%, the rental vacancy rate has increased by 2.33%.

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
2016 5.89% 8.08% 8.56%
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 17.46% in 2016 according to the ACS.

Oklahoma City 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%
Oklahoma City, OK 17.46% -1.41% -0.78%

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

The fraction of median Oklahoma City household income required to pay median monthly gross rent peaked in 2015 (relative to the 2005 series origin) at 18.87%. Since then it has fallen by 1.41% to 17.46%.

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
2016 20.43% 18.16% 17.46%
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 2016 36.71% of households were renters according to Census ACS data.

Oklahoma City 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%
Oklahoma City, OK 36.71% +0.64% +0.13%

Trends in the Oklahoma City, OK Renter Fraction

The Oklahoma City household renter fraction peaked in in 2014 at 36.76% and is now 0.05% 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
2016 36.88% 35.10% 36.71%
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.