MARKET SNAPSHOT

OKLAHOMA CITY
q1 2025

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AVERAGE RENT

$1,012 Q1 2025

OCCUPANCY RATE

89.3% Q1 2025

QUARTERLY NET ABSORPTION

136 Q1 2025

ANNUAL RENT CHANGE

2.2% Q1 2025

ANNUAL OCCUPANCY CHANGE

-10 BPS Q1 2025

QUARTERLY COMPLETIONS

268 Q1 2025

KEY TAKEAWAYS

Net absorption totaled 2,135 units in the year ending March 2025—well above the 10-year average and nearly matching deliveries—signaling a more balanced supply-demand environment and supporting occupancy stabilization.

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Oklahoma City has roughly 1,350 units under construction—well below the 10-year average and representing just 1.4% of inventory, less than half the U.S. norm of 3.0%.

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Multifamily investment activity accelerated in 2024, with 24 single-asset trades and a 25% increase in dollar volume year-over-year, totaling $273.9 million, according to Real Capital Analytics.

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MARKET OUTLOOK

The Oklahoma City multifamily market is well-positioned for continued stabilization and modest growth through the remainder of 2025. With the construction pipeline down significantly, just 1,350 units currently underway...

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