A-
6%
Overall NAT. AVG.
13%
Goods & Services NAT. AVG.
2%
Housing NAT. AVG.
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Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.
The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index Norman Oklahoma National
Cost of living9486100
Goods & Services8791100
Groceries9394100
Health care10593100
Housing9869100
Transportation9893100
Utilities9798100

An Overview of Cost of Living in Norman, OK

Understanding the cost of living in Norman can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Norman cost of living index is 94, which is 6% lower than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.

The cost of living in Norman closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, goods and services, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Norman can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.

Everyday items like clothes, personal care products and fun activities all add up to what it costs to live. The thing is, in Norman, these goods and services are 13.1% cheaper than what people pay on average across the country. That means you can enjoy what you need and like without going broke. With these savings, you can stash more cash in your savings or use it for other money goals, which can really boost your financial health.

Is Norman Affordable?

Is Norman an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Norman, the median home price is 0.2% lower than what most folks pay across the country, and monthly rent prices are 7.1% lower than the usual rates. Income levels in Norman come in at $58,111, which is 5% higher than the national average.

What Factors can Influence the Cost of Living in Norman?

Housing: Elevated demand for housing within coveted locales has the propensity to escalate both property values and rental rates, thereby serving as a primary catalyst for an augmented cost of living. Conversely, areas witnessing diminished housing demand, particularly within less desirable environs, often experience an inversely proportional effect, leading to price reductions and subsequently contributing to a more modest cost of living. In Norman, the housing index is 2.3% lower than the national average.

Urbanization: Urban areas with a wealth of amenities and employment opportunities tend to come with a higher price tag for living. Why? Well, more people want to be there, which drives up home prices and rents. On the flip side, less densely populated rural areas or places where there's not as much demand usually mean fewer attractions, things to do and slower job growth. That often results in a lower cost of living.

Groceries: Grocery prices have seen substantial hikes in the last 2-3 years, with some markets witnessing food cost increases of over 20% during this period. Conversely, certain markets have experienced only moderate upticks. These variations in food expenses can have a substantial impact on the overall cost of living in any locality. In Norman, the groceries index is 6.8% lower than the national average.

Where is the Data From?

The Norman cost of living data displayed above is derived from the C2ER cost of living index to provide a useful and reasonably accurate measure of living cost differences in urban areas. The index takes into account data from 300 independent researches, covering more than 60 goods and services across 6 different categories, to create an overall index for each area, with 100 being the average. The C2ER index does not include sales or income tax rates in their data, however AreaVibes does include both income and sales tax rates in the overall cost of living score for each area.

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Cost Of Living Quick Facts

  • The cost of living in Norman is 9% higher than the Oklahoma average
  • The cost of living in Norman is 6% lower than the national average
  • Norman housing is 2% lower than the national average
  • Oklahoma general sales tax is 12% lower than the national average
  • Oklahoma state income tax is 90% lower than the national average

Most Affordable Places to Live in and Around Norman

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Compare Norman, OK Cost of Living

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      Salary Calculator

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      Price difference in compared to
      Cost of living index
      Goods & Services index
      Groceries index
      Health care index
      Housing index
      Transportation index
      Utilities index

      Median Income & Debt-To-Income Ratio

      Median Income Per Year Per Month Max Budget (28% DTI) Max Budget (36% DTI)
      Owners$88,951$7,413$2,075$2,669
      Renters$34,151$2,846$797$1,025
      The affordability of the housing market in Norman, OK as well as the overall cost of living can be predicted by what percent of the monthly income is spent on housing related costs. This is konwn as the debt-to-income ratio (DTI). The overall rule of thumb is that no more than 28% of your gross income should be spent on the overall costs related to housing and no more than 36% of gross income on all expenses and debts. Among Norman homeowners, the median income is $88,951. This indicates that a monthly maximum of $2,075 should be spent by homeowners on all housing related costs. Renters have a median income of $34,151. This indicates that renters would have a maximum of $797 for their rent related monthly costs.

      Oklahoma Sales Tax

      State General Sales Tax With Max Surtax
      Oklahoma 4.5% 11%

      Oklahoma Income Tax

      State Income Tax (Low) Income Tax (High)
      Oklahoma 0.25% 4.75%

      Goods & Services

      Item Norman National avg. Difference
      Haircut $21.23$24.2612.5%
      Beauty Salon $25.86$45.5643.2%
      Toothpaste $3.53$3.704.7%
      Shampoo $1.30$1.281.6%
      Movie $9.91$12.1318.4%
      Bowling $11.09$18.0038.4%

      Groceries

      Item Norman National avg. Difference
      Ground Beef $5.98$5.842.4%
      Fried Chicken $1.41$1.5710.2%
      Milk $4.59$4.671.7%
      Potatoes $4.94$4.930.1%
      Pizza $12.95$12.097.2%
      Beer $10.20$10.412.0%

      Health Care

      Item Norman National avg. Difference
      Optometrist $97.18$125.6822.7%
      Doctor $94.89$135.7830.1%
      Dentist $112.76$113.290.5%
      Ibuprofen $10.13$10.654.9%
      Lipitor $443.26$468.605.4%

      Housing

      Item Norman National avg. Difference
      Home Price $184,300.00$184,700.000.2%
      Avg. Mortgage Payment $1,463.20$2,346.6937.6%
      Apartment Rent $882.00$949.007.1%

      Transportation

      Item Norman National avg. Difference
      Gasoline $3.16$3.468.8%
      Tire Balancing $45.14$59.9224.7%

      Utilities

      Item Norman National avg. Difference
      All Electricity $192.91$193.990.6%
      Phone $194.09$192.251.0%
      Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

      Nearby cities with low cost of living

      City Population Cost of Living Index National Avg.
      Valley Brook, OK9047722.8%
      Lexington, OK2,2447920.7%
      Purcell, OK6,5088812.1%
      Dibble, OK8988911.2%
      Slaughterville, OK4,291909.8%
      Norman, OK124,086946.2%

      Cities with similar population

      City Population Cost of Living Index National Avg.
      Lehigh Acres, FL124,5231022.3%
      Fargo, ND123,5501010.5%
      Abilene, TX124,691909.9%
      Athens, GA124,962973.3%
      Berkeley, CA123,065221121.2%
      Norman, OK124,086946.2%
      Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.