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Norman

Learn about the people, housing, costs and businesses in Norman, Oklahoma

Median Home$247,878
Median Rent$1,122/month
Population129,825
Leading IndustriesManufacturing · Arts, Food & Hospitality · Healthcare2% manufacturing
Home Value Growth⬆⬆+18.9% over 2 years
Young Adults42% of residentstop 2% nationally
Homeowners53% of occupied units
NotableAmenity Score72/100 · highly walkable area
NotableHighly Educated23% bachelor's · 12% graduate · top 23% nationally
Norman
OK

Frequently Asked Questions

What are today's mortgage rates in Norman?

As of today, the 30-year fixed mortgage rate for Norman is approximately 6.978% (7.017% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Norman?

The median home value in Norman is $248k. The median monthly rent is $1,122. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Norman?

Home values in Norman have increased 18.9% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Norman?

Based on a typical all-in ownership cost of $1,122/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $48k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Norman is $68k/year.

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What industries drive the economy in Norman?

The largest employment sectors in Norman are public administration (26%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.