Norman Home Prices: $273K, Up 1.9% — 4 ZIPs Analyzed (2026)

$272,817. That’s what a typical home costs in Norman, Oklahoma right now. Prices climbed 1.9% over the past year — modest, but the trend has held for 12 straight months.

Quick answer: The average home price in Norman, OK is $272,817 as of February 2026, up 1.9% year over year according to Zillow.

Current Home Prices in Norman

The Norman housing market is moving up at a steady, unspectacular pace. The current median sits at $272,817, with the cheapest ZIP at $219,429 and the priciest at $320,837 — a spread of roughly $101,000 between the city’s most and least expensive areas.

A 1.9% annual gain is below the long-run U.S. inflation rate. In real terms, Norman home values are basically flat. That’s not a bad thing if you’re shopping. Rapid appreciation prices people out — slow appreciation lets wages catch up.

For context, the city’s home values have risen every single month in the 12-month window covered by this data. There’s no panic here, no sharp correction, no overheated bidding. Just a slow grind upward.

The $272,817 figure puts Norman well under the national median, which sat above $360,000 at last reading. Norman buyers get more square footage per dollar than buyers in coastal metros — and considerably more than in Austin, Phoenix, or Denver.

Norman Home Prices by Neighborhood

Four ZIP codes make up the Norman housing market. The gap between the cheapest and most expensive is wide — about 46% — driven largely by location relative to the University of Oklahoma campus and the city’s western residential corridors.

Most Expensive

• 73026 — $320,837. The priciest ZIP in Norman, sitting nearly 18% above the city average. Rent data is not available for this ZIP.
• 73072 — $313,324. Western Norman, with median rents of $1,383 — the highest in the city. Home values run about 15% above the city median.
• 73069 — $237,678. Despite being on the lower end for home values, rents here are $1,347, almost matching the priciest ZIP. That makes it a solid landlord market.

Most Affordable

• 73071 — $219,429. The cheapest ZIP in Norman, nearly 20% below the city average. This area covers neighborhoods near the OU campus.
• 73069 — $237,678. Central Norman, around 13% under the city average. Decent rent yield given the home price.
• 73072 — $313,324. Norman only has 4 tracked ZIPs, so the third-cheapest is also one of the most expensive — a sign of a small, polarized market.

Rent vs Buy in Norman

Renting wins on month-to-month cost in Norman. The median rent across tracked ZIPs is roughly $1,310, with a low of $1,200 in 73071 and a high of $1,383 in 73072.

A mortgage on the city-median $272,817 home — assuming 20% down at current 30-year rates near 7% — runs roughly $1,450 in principal and interest alone. Add property taxes, insurance, and maintenance, and the all-in monthly cost is closer to $2,000.

That puts ownership at about $700 more per month than renting. The math only flips in the buyer’s favor if you stay 5+ years and home values keep climbing at the recent 1.9% pace.

For students, short-term residents, or anyone unsure they’ll stick around past graduation or a single job cycle, renting is the cleaner choice. For families planning to stay a decade, buying still wins on long-run wealth — but the gap is tighter than it was three years ago.

Population Growth and Migration

Norman is growing, but not fast. The city added about 2,800 residents between 2020 and 2024 — a 2.2% gain over four years.

Each year shows a small, steady gain. No boom, no bust. That kind of population trajectory matches what the housing data shows — modest demand, modest price growth.

How does Norman compare to other Oklahoma cities?

Broken Arrow is the standout, growing more than three times faster than Norman. Edmond and Oklahoma City are also outpacing it. Norman sits in the middle of the pack — growing, but not attracting migrants the way Tulsa’s suburbs are.

For housing, this means demand pressure on Norman prices is real but soft. There’s no flood of newcomers driving bidding wars.

Norman Housing Market Trends

Twelve months of data, twelve months of gains. Here’s the monthly trajectory:

The pattern is unmistakable. Median values rose every single month from March 2025 to February 2026 — total gain of about $5,000, or 1.9%. Average monthly increase: roughly $400.

There’s no volatility here. No correction. No spike. Norman is the housing market equivalent of a slow, steady bond — predictable returns, low drama.

Is Norman a Good Place to Buy in 2026?

Norman is a balanced market leaning slightly toward buyers. Prices are rising, but slowly enough that you won’t get squeezed by bidding wars or weekly price hikes.

The case for buying:

• Median price under $275K is well below the U.S. median
• Rent yields in the cheaper ZIPs (73069, 73071) are decent for landlords
• Population is growing, even if slowly
• 12 months of consecutive monthly price gains suggests stable demand

The case for waiting:

• Renting is currently $700/month cheaper than owning
• 1.9% annual appreciation barely beats inflation in real terms
• Population growth lags Oklahoma City and Edmond — less upward pressure on prices

If you plan to stay 5+ years and want a stable college town with reasonable prices, Norman delivers. If you’re looking for fast appreciation, look at Broken Arrow or Edmond instead.

Norman Housing Market Outlook for 2026-2027

The 3-month trend (December 2025 to February 2026) shows median values up about $940, or roughly 0.35%. If the current pace continues, Norman home prices would hit roughly $277,000 by August 2026 and approach $282,000 by early 2027.

That’s a forecast based purely on momentum, not on broader economic conditions. The trend has been remarkably linear — about $400 per month in average gains for a full year. Nothing in this dataset suggests an inflection point either way.

The cheapest ZIP (73071) has been gaining slightly faster than the city average in percentage terms, while the most expensive (73026) is also rising steadily. No signs of divergence between high-end and low-end submarkets.

Watch for changes in mortgage rates and OU enrollment trends — both have outsized effects on a college town like Norman.

Similar Markets in OK

• Oklahoma City — Norman’s parent metro, with faster population growth and a deeper housing inventory.
• Edmond — A higher-priced suburb of OKC growing more than twice as fast as Norman.
• Broken Arrow — Tulsa-area suburb with the strongest population growth in the state at 7.7%.
• Tulsa — Oklahoma’s second-largest city, useful for comparing metro-level price levels.
• Midwest City — A smaller OKC suburb that often shows up cheaper than Norman.

Frequently Asked Questions

What is the average home price in Norman?

The average home price in Norman, OK is $272,817 as of February 2026. That figure is the median across the four ZIP codes tracked in the city, ranging from $219,429 in the cheapest area to $320,837 in the priciest.

Are home prices going up or down in Norman?

Prices are going up. Norman home values rose 1.9% year over year, and they have increased every month for 12 consecutive months. Average monthly gain over the past year was roughly $400.

Is it cheaper to rent or buy in Norman?

Renting is cheaper today. Median rents range from $1,200 to $1,383 across tracked ZIPs, while a mortgage on the $272,817 median home runs about $2,000 per month all-in at current rates. Owning makes sense if you’ll stay 5+ years.

What is the most affordable neighborhood in Norman?

ZIP 73071 is the most affordable at $219,429 — about 20% below the city average. This ZIP covers areas near the University of Oklahoma campus, where rents also run lowest at $1,200.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.