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1031 Exchange Norman, Oklahoma

 

Rent, population, and median household income are important factors to consider for a 1031 exchange in Norman due to their correlations with market demand, and conversely, vacancy rate.

Surrounding submarket Area

Norman, Oklahoma is a part of the Norman Submarket submarket area, and contains 6 zip codes: 73071, 73069, 73026, 73019, 73072, and 73070.

Norman Demographics & Economic Trends

The 2019 average effective rent for Class A, B, and C apartments in the Norman, OK submarket area was $739, which is 25.68% lower than 2014 average rent. This represents a compounded annual growth rate of 4.68%. 2019 vacancy in Norman, OK was 6.70%.

The total population of the city of Norman, OK has grown 11.31% since 2010. As of 2018, the population was 123,471. The median household income of the Norman was $56,229, which is 6.74% lower than the national average.

  • submarket area Norman Submarket
  • avg rent $739
  • rent growth 25.68%
  • vacancy 6.70%
  • median income $56,229
  • population (2018) 123,471
  • population growth 11.31%
  • vs. nat'l avg 6.74%
  • zip codes 73019 73026 73069 73070 73071 73072

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