$1,500 Per Month
- 3 Beds
- 2 Baths
- 1,348 Sq Ft
- House for Rent
2123 Teresa Dr, Norman, OK 73071
2123 Teresa Dr, Norman, OK 73071
Frequently Asked Questions
How much does it cost to rent a single-family home in Norman, OK?
The median rent for a single-family home in Norman, OK is $1,695 per month, though prices vary by neighborhood, size, and property type. As of September 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 $65,800 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 $1,645 per month in Norman, OK, renters typically need to show $4,935 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 14.4, 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 single-family home?
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 single-family home include Southeast Norman, Alameda, Northeast Norman, University of Oklahoma and Westwood Park, each with its own character and price range.
