Norman, Oklahoma is a great place to live for those looking for an affordable cost of living. According to RentJungle.com, the average rent for a two bedroom in Norman is only $1,020 compared to the national average of $1,430. Additionally, the Grocery Cost Index in Norman is 98 versus 100 nationally according to Numbeo.com. Those savings can really add up over time! \nNorman is also home to many well-known companies such as Love’s Travel Stops & Country Stores and O’Reilly Auto Parts Corporate Office Headquarters. The University of Oklahoma has its main campus there as well and employs thousands of faculty and staff. With its low cost of living and abundance of job opportunities, it’s easy to see why people choose to live in Norman, Oklahoma.
Norman has an unemployment rate of 3.3%. The US average is 6.0%.
Norman has seen the job market increase by 2.6% over the last year. Future job growth over the next ten years is predicted to be 33.9%, which is higher than the US average of 33.5%.
Tax Rates for Norman
- The Sales Tax Rate for Norman is 8.8%. The US average is 7.3%.
- The Income Tax Rate for Norman is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Norman
- The average income of a Norman resident is $28,273 a year. The US average is $28,555 a year.
- The Median household income of a Norman resident is $59,866 a year. The US average is $69,021 a year.