$980 Per Month
- 2 Beds
- 1.5 Baths
- 1,120 Sq Ft
- Condo for Rent
401 SE 12th St Unit 156, Norman, OK 73071
401 SE 12th St Unit 156, Norman, OK 73071
Frequently Asked Questions
How much does it cost to rent a condo in Norman, OK?
The median rent for a condo in Norman, OK is $950 per month, though prices vary by neighborhood, size, and property type. As of July 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Norman, OK?
To comfortably afford the median rent in Norman, OK, a household needs to earn roughly $59,800 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $1,495 per month in Norman, OK, renters typically need to show $4,485 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Norman, OK?
In Norman, OK, the price-to-rent ratio is 15.9, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
What neighborhoods in Norman, OK are best for renting a condo?
The best neighborhood for renting in Norman, OK depends on your priorities: commute, walkability, budget, and lifestyle all play a role. Popular areas for renting a condo include Southeast Norman and Southwest Norman, each with its own character and price range.
