RENTING IN OKLAHOMA
OKLAHOMA CITY– Average rent payments for apartments across the United States last year registered a modest decline, dipping to $1,474, but even the highest rates in Oklahoma were $550 cheaper, according to Yardi Matrix data reported by RENTCafe.com. The priciest rents nationally last month were found on the coasts. In Manhattan, N.Y., the average apartment rent was $4,211and in San Francisco, Calif., it was $3,688. Average rental in other major metropolitan cities included: Los Angeles, $2546; Chicago, $1947; Austin, $1436; Dallas, $1244; and Fort Worth, $1128.
Among all large cities nationwide that were surveyed, Oklahoma City has the most affordable average apartment rent: $784 an increase of $30 over the past year. The most expensive apartments in Oklahoma are in Edmond, at $922, and Bixby was a close second, at $921. The cheapest monthly apartment rentals are in Bethany, which averaged $633 last month. In comparison, the average apartment rent in Lawton in December was $662, a $22 increase from the previous year.
Average rent payments last month in Norman, home of the University of Oklahoma, were $890. In Stillwater, home of Oklahoma State University, average apartment rentals cost $843.
At an average of $712 per month, apartment rentals in Tulsa ranked second among all mid-size cities surveyed; that was a net one-year change of $23. Wichita, Kan., at an average of $663 per month, remained the most affordable of all cities surveyed by Yardi Matrix. The most sought after residences last year on RENTCafe.com were 2-bedroom apartments, requested by nearly 45% of renters. The second-most-popular were 1-bedroom apartments, requested by 27% of potential renters. A little over 16% of renters sought 3-bedroom apartments, and almost 12% wanted studios.
RENTCafe.com is a nationwide apartment search website. Data on average rents is derived from market-rate large-scale multi-family properties (50+ units in size) via telephone survey; the data is compiled and reported by Yardi Matrix, a sister company.