Norman Rental Market Slump Benefits OU Students


Emily Dunford

Considering the number of houses for rent, one might think it’s summertime in Norman, Oklahoma. With property owners desperately seeking renters, students may have the upper hand.

Although the fall semester is well underway, many homes remain vacant. Norman locals would say the recent over saturation of corporate apartment complexes are to blame. Both local housing and apartment complexes in the area are facing this financial struggle, but there’s one group who isn’t: the students.

Grady Carter, a Norman realtor said, “rental property owners are trying to incentivize students. Most investors offer a lower rental rate. The rental market in Norman has shifted honestly in favor of the renter. Rental rates have gone down because there’s so much competition”

Students such as Taylor Hollon who are studying abroad this fall and are preparing for the spring semester were able to catch some of these great deals.

Hollon who is a senior said, “I couldn’t believe it when I saw all the houses that were available. Then I saw the prices and my jaw dropped. I called my mom and she told me they had to be scams.” After living in Norman for 4 years, Hollon knew the trend of housing prices in Norman and couldn’t believe that they were so low.

With an over saturated rental market, this seems to be a trend that may stick around for a couple of years to come. So students, if you’re daring enough to wait it out, you may score yourself a sweet deal.