16 Apartments under 500 for rent in Norman, OK

Last updated November 20 at 2:37pm UTC
Results within 5 miles of Norman, OK
343 SE 44th St
Oliver Park South
Oklahoma City, OK
Updated November 16 at 12:36pm UTC
1 Bedroom
$450
Results within 10 miles of Norman, OK
817 SW 64th St
Southern Oaks
Oklahoma City, OK
Updated November 17 at 1:42am UTC
1 Bedroom
$495
2116 SW 51st St
Oklahoma City
Oklahoma City, OK
Updated October 31 at 1:46am UTC
1 Bedroom
$495
229 E Madison St
Oklahoma City
Oklahoma City, OK
Updated November 4 at 5:27pm UTC
1 Bedroom
$495
605 SW 34th St
Capitol Hill
Oklahoma City, OK
Updated October 31 at 6:51pm UTC
1 Bedroom
$450
105 SE 42nd St
Oliver Park South
Oklahoma City, OK
Updated November 19 at 5:41pm UTC
2 Bedrooms
$450
5825 NW 34th St
Oklahoma City
Oklahoma City, OK
Updated October 31 at 6:52pm UTC
1 Bedroom
$495
3809 N Geraldine Ave
Oklahoma City
Oklahoma City, OK
Updated October 31 at 1:39am UTC
1 Bedroom
$475
4022 N Meridian Ave
Oklahoma City
Oklahoma City, OK
Updated October 3 at 6:32pm UTC
1 Bedroom
$475
Results within 20 miles of Norman, OK
3815 N Geraldine Ave
Oklahoma City
Oklahoma City, OK
Updated November 16 at 12:30pm UTC
1 Bedroom
$475
1013 Trout Avenue
Norman
Norman, OK
Updated September 24 at 2:19am UTC
1 Bedroom
$475
4642 SE 29th
Del City
Del City, OK
Updated November 10 at 1:39am UTC
Studio
$437
801 Cartwright Dr
Noble
Noble, OK
Updated October 31 at 6:53pm UTC
1 Bedroom
$495
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November 2017 Norman Rent Report

Welcome to the November 2017 Norman Rent Report. Norman rents declined over the past month. In this report, we'll evaluate trends in the Norman rental market, including comparisons to similar cities nationwide.

View full Norman Rent Report
Rent Report
Norman

November 2017 Norman Rent Report

Welcome to the November 2017 Norman Rent Report. Norman rents declined over the past month. In this report, we'll evaluate trends in the Norman rental market, including comparisons to similar cities nationwide.

Norman rents declined over the past month

Norman rents have declined 0.6% over the past month, but have been relatively flat at 0.3% in comparison to the same time last year. Currently, median rents in Norman stand at $640 for a one-bedroom apartment and $820 for a two-bedroom. Norman's year-over-year rent growth lags the state average of 0.4%, as well as the national average of 2.7%.

Norman rents more affordable than many large cities nationwide

Rent growth in Norman has been relatively stable over the past year - some other large cities have seen more substantial increases; in contrast, rents in a few cities have actually declined. Norman is still more affordable than most large cities across the country.

  • Norman's median two-bedroom rent of $820 is below the national average of $1,160. Nationwide, rents have grown by 2.7% over the past year compared to the stagnant growth in Norman.
  • While rents in Norman remained moderately stable this year, similar cities saw increases, including Seattle (+4.2%), Phoenix (+4.1%), and Dallas (+2.6%); note that median 2BR rents in these cities go for $1,690, $1,020, and $1,100 respectively.
  • Renters will find more reasonable prices in Norman than most large cities. For example, San Francisco has a median 2BR rent of $3,070, which is more than three-and-a-half times the price in Norman.

For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

Read more about our methodology here.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.