Norman, Oklahoma Cost Of Living

Buy Rent

B

9%

Overall NAT. AVG.

9%

Goods & Services NAT. AVG.

13%

Housing NAT. AVG.

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Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; 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 living	91	86	100
Goods & Services	91	93	100
Groceries	90	95	100
Health care	96	94	100
Housing	87	69	100
Transportation	95	95	100
Utilities	96	95	100

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Key findings

The cost of living in Norman is 5% higher than the Oklahoma average
The cost of living in Norman is 9% lower than the national average
Norman housing is 13% lower than the national average
Oklahoma general sales tax is 12% lower than the national average
Oklahoma state income tax is 80% lower than the national average

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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	$75,601	$6,300	$1,764	$2,268
Renters	$30,911	$2,576	$721	$927

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 $75,601. This indicates that a monthly maximum of $1,764 should be spent by homeowners on all housing related costs. Renters have a median income of $30,911. This indicates that renters would have a maximum of $721 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	0.5%	5%

Goods & Services

Item	Norman	National avg.	Difference
Haircut	$19.47	$20.27	4.0%
Beauty Salon	$43.06	$40.39	6.6%
Toothpaste	$1.88	$2.36	20.3%
Shampoo	$0.93	$1.08	13.3%
Movie	$9.68	$10.99	11.9%
Bowling	$12.11	$15.49	21.8%

Groceries

Item	Norman	National avg.	Difference
Ground Beef	$3.86	$4.30	10.1%
Fried Chicken	$1.25	$1.40	10.4%
Milk	$1.99	$2.20	9.5%
Potatoes	$2.48	$3.22	22.9%
Pizza	$11.88	$10.74	10.6%
Beer	$8.76	$9.60	8.7%

Health Care

Item	Norman	National avg.	Difference
Optometrist	$105.39	$109.73	4.0%
Doctor	$101.62	$118.34	14.1%
Dentist	$101.84	$100.94	0.9%
Ibuprofen	$9.92	$9.93	0.1%
Lipitor	$444.64	$469.53	5.3%

Housing

Item	Norman	National avg.	Difference
Home Price	$163,900.00	$184,700.00	11.3%
Avg. Mortgage Payment	$948.41	$1,229.62	22.9%
Apartment Rent	$802.00	$949.00	15.5%

Transportation

Item	Norman	National avg.	Difference
Gasoline	$2.31	$2.71	14.8%
Tire Balancing	$57.36	$51.86	10.6%

Utilities

Item	Norman	National avg.	Difference
All Electricity	$155.47	$170.84	9.0%
Phone	$191.74	$187.18	2.4%

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, OK	804	76	24.5%
Lexington, OK	2,248	80	19.6%
Dibble, OK	977	83	16.7%
Purcell, OK	6,349	85	15.1%
Noble, OK	6,664	85	14.9%
Norman, OK	118,974	91	9.3%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Terrebonne, QC	119,135	n/a
Berkeley, CA	118,585	192	91.9%
Allentown, PA	119,624	95	4.9%
Vallejo, CA	119,644	129	28.7%
Waterloo, ON	118,234	n/a
Norman, OK	118,974	91	9.3%

Date & Last Updated: This data reflects 2022 and was released from C2ER in January, 2022; this is the most current data available.