MARKET SNAPSHOT

Oklahoma City Q3 2026

AVERAGE RENT

$1,018 Q3 2026

OCCUPANCY RATE

88.5% Q3 2026

NET ABSORPTION

867 T4Q

ANNUAL RENT CHANGE

0.3% Q3 2026

YoY OCCUPANCY CHANGE

-60 BPS

UNIT COMPLETIONS

1,030 T4Q

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KEY TAKEAWAYS
Renter demand in Oklahoma City nearly doubled year over year in the third quarter, though trailing absorption continues to lag completions, a gap tied largely to a weak start to 2026 rather than current softness.
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Construction activity has collapsed with the number of units underway equal to just 0.3% of inventory, the lowest level since 2007, and starts also at a decade low, setting up a sharply lighter supply environment through 2027.
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Oklahoma City leads nearly all peer markets in the region for annual rent growth after two consecutive quarterly gains, even as occupancy remains mid-pack and the market works through the last of a lingering supply overhang.
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MARKET OUTLOOK

Oklahoma City’s multifamily market should continue firming gradually over the next several quarters, supported by a construction pipeline that has effectively bottomed out...

Featured Oklahoma Research Reports:

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Colton Howell 2026

Colton Howell

Managing Director

colton.howell@mmgrea.com

richardRedding

Richard Redding

Senior Director

richard.redding@mmgrea.com

Stuart Krous 2024

Stuart Krous

Senior Advisor

stuart.krous@mmgrea.com

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