Rent to own Homes in Norman, OK
With a wide variety of housing properties and rental homes in the market, finding a house for sale or a rent to own apartment in Norman is as easy as it gets. The annual residential turnover for the year 2012 was 24.94 percent while the median house sale price for the period May '13 to July '13 was $146,000, which is much below the national average of $213,500. Around half of the houses in Norman are owner occupied at 50.92 percent, while 42.19 percent of the homes are rentals. The vacant housing units account for 6.89 percent of the real estate landscape.
Norman, OK is a great place for affordable rent-to-own homes! With a median household income of over $58,111 and a median rent of $882, the Norman, OK rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Norman, OK. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Norman, OK Property Resources
Rent to own Homes in Cities Near Norman, OK
- Bethany
- Bethel Acres
- Blanchard
- Bridge Creek
- Choctaw
- Cole
- Del City
- Dibble
- Edmond
- Etowah
- Forest Park
- Goldsby
- Harrah
- Jones
- Lake Aluma
- Lexington
- Middleberg
- Midwest City
- Moore
- Mustang
- Newalla
- Newcastle
- Nichols Hills
- Nicoma Park
- Noble
- Norman
- Oklahoma City
- Pink
- Purcell
- Slaughterville
- Smith Village
- Spencer
- The Village
- Tuttle
- Union City
- Valley Brook
- Warr Acres
- Washington
- Woodlawn Park
- Yukon
Neighborhoods in Norman, OK
University rent to own homes Larsh / Miller rent to own homes Original Townsite rent to own homes Old Silk Stocking rent to own homes First Courthouse rent to own homes Southridge Historic District rent to own homes Hall Park rent to own homes Campus Corner rent to own homesPopular Zip Codes in Norman, OK
73026 rent to own homes 73070 rent to own homes 73072 rent to own homes 73071 rent to own homes 73069 rent to own homes 73019 rent to own homesBuying a Home in Norman, OK
Norman, OK is seeing rapid growth and Norman, OK's' housing market remains optimal with an average home price that is -15% below the 2024 national average. Norman, OK is part of Cleveland county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Cleveland is 0.97% which is below the national average, which is 0.99%.
Median Home Price in Norman, OK
Median Rent in Norman, OK
Outdoors Activities Norman has a large number of parks and open spaces lined with jogging trails and other recreational facilities. The Park and Recreation Department of Norman oversees around 55 community parks. The most popular of these is Westwood Park, which features a tennis center, a waterpark and a golf course. The Griffin Community Park Sports Complex has a number of soccer, baseball, and softball fields and is popular with the kids in the neighborhood. Further east is the Lake Thunderbird State Park, which offers a plethora of outdoor recreational activities. From camping, swimming and boating to archery and horseback riding, there's enough to keep you busy all week long. The park also features the Little River Marina and the Calypso Cove Marina, which has nine boat ramps. Those a little more adventurous and on the search for a challenge will be thoroughly entertained at Andy Alligator's Fun Park, which boasts the largest rock wall in the state.
Local Events and Festivals A city alive with festivities and fun, Norman is home to a thriving music and arts scene. The Norman Medieval Fair is an annual celebration that features jousting, medieval themed games, combat shows and numerous dance acts. Other music festivals that draw crowds from afar are the Norman Music Festival, which highlights local and international music talent, the Groovefest, Jazz in June and the Summer Breeze Concert Series. Featuring art, music and food is the May Fair, an arts festival that hosts artists, musicians and performers at Andrews Park. The Midsummer's Nights Fair is an arts festival held at night, just outside the Firehouse Art Center, which is located in Lions Park. Downtown Norman is a popular location for the celebration of local festivals including the Mardi Gras parade, featuring themed floats and costumes, and the Christmas Holiday Parade on Main Street that takes place every December.
Neighborhood Guide Although Norman is seated in Tornado Alley, many find themselves attracted to the city's outdoor spaces and festivities. A few neighborhoods in Norman are detailed here: