Side-by-side comparison of home prices, mortgage payments, and housing costs between Edmond and Norman, Oklahoma. Using Oklahoma's 0.88% property tax rate and $3,600/year insurance. Updated for 2026.
Norman edges out Edmond in affordability, saving you roughly $476/month on total housing costs. Both cities are in Oklahoma, so property tax rates and insurance costs are the same — the difference comes down to home prices and what you get for your money in each market.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI. Uses Oklahoma's 0.88% property tax rate.
Buying in Norman saves you approximately $476/month ($5,712/year) compared to Edmond, based on median home prices with identical loan terms.
Norman is the better choice for first-time buyers, with a median price of $245K versus $315K in Edmond. That's $70K less to save for a down payment. You'd need roughly $9K for an FHA 3.5% down payment in Norman, compared to $11K in Edmond. Oklahoma offers the OHFA Homebuyer DPA program (Up to 3.5% DPA) which applies in both cities.
Norman has the better price-to-rent ratio at 18.2x versus 19.4x in Edmond. A lower ratio generally signals better rental income relative to purchase price. Average rent in Norman is $1,120/month on a $245K median home, making it a stronger candidate for buy-and-rent investors.
Norman (pop. 128,026) offers more amenities, schools, and services typical of a larger city, while Edmond (pop. 99,350) may offer a quieter, more community-oriented lifestyle. Norman offers both more options and lower housing costs, making it attractive for families who want urban amenities without a premium price.