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Oklahoma
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VACANCY
Apartment
The average Vacancy Rate was 5.4% in the Oklahoma City metro
- Vacancy in the Oklahoma City metro drifted downward by 10 basis points.
- Vacancy is expected to finish 2024 at 5.3% in the Oklahoma City metro.
Distribution / Warehousing
The average Vacancy Rate was 6.3% in the Oklahoma City metro
- Vacancy in the Oklahoma City metro rose by 60 basis points.
- The Oklahoma City metro had the highest vacancy level since Q2 2022.
- Vacancy is expected to finish 2024 at 6.1% in the Oklahoma City metro.
Office
The average Vacancy Rate was 19.9% in the Oklahoma City metro
- Vacancy in the Oklahoma City metro increased by 100 basis points.
- The Oklahoma City metro had the highest vacancy level since year-end 2021.
- Vacancy is expected to finish 2024 at 20.2% in the Oklahoma City metro.
Retail
The average Vacancy Rate was 14.1% in the Oklahoma City metro
- Vacancy in the Oklahoma City metro drifted upward by 40 basis points.
- The Oklahoma City metro was among the 20 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 14.0% in the Oklahoma City metro.
RENT
Apartment
The average Asking Rent was $806 in the Oklahoma City metro
- Rent in the Oklahoma City metro was up 0.1% from Q1 2024.
- Rent is expected to finish 2024 at $812 in the Oklahoma City metro.
Distribution / Warehousing
The average Asking Rent was $5.41 in the Oklahoma City metro
- Rent in the Oklahoma City metro was up 0.2% from Q1 2024.
- Rent has risen in every quarter since year-end 2018 in the Oklahoma City metro.
- Rent is expected to finish 2024 at $5.50 in the Oklahoma City metro.
Office
The average Asking Rent was $17.76 in the Oklahoma City metro
- Rent in the Oklahoma City metro was up 0.6% from Q1 2024.
- Rent is expected to finish 2024 at $17.85 in the Oklahoma City metro.
Retail
The average Asking Rent was $12.53 in the Oklahoma City metro
- The Oklahoma City metro had the fastest rent growth in the Southwest region, sixth most rapid in the nation.
- Rent is expected to finish 2024 at $12.67 in the Oklahoma City metro.
VACANCY
Apartment
The average Vacancy Rate was 4.1% in the Tulsa metro
- The Tulsa metro had the lowest vacancy in the Southwest region, twenty-sixth lowest in the nation.
- No vacancy change since Q1 2024 in the Tulsa metro.
- The Tulsa metro had the lowest vacancy level since Q1 1995.
Distribution / Warehousing
The average Vacancy Rate was 7.1% in the Tulsa metro
- Vacancy in the Tulsa metro drifted downward by 40 basis points.
- Vacancy is expected to finish 2024 at 7.0% in the Tulsa metro.
Office
The average Vacancy Rate was 25.9% in the Tulsa metro
- Vacancy in the Tulsa metro fell by 80 basis points.
- The Tulsa metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 26.1% in the Tulsa metro.
Retail
The average Vacancy Rate was 15.1% in the Tulsa metro
- Vacancy in the Tulsa metro drifted upward by 20 basis points.
- The Tulsa metro was among the 10 highest vacancies nationally.
- Vacancy is expected to finish 2024 at 15.0% in the Tulsa metro.
RENT
Apartment
The average Asking Rent was $832 in the Tulsa metro
- Rent in the Tulsa metro was up 0.9% from Q1 2024.
- Rent is expected to finish 2024 at $839 in the Tulsa metro.
Distribution / Warehousing
The average Asking Rent was $4.89 in the Tulsa metro
- The Tulsa metro had the sixth fastest rent growth in the nation, and the second in the Southwest region, behind only Dallas.
- Tulsa metro had its fastest rent rate of increase in five quarters.
- Rent has risen in every quarter since year-end 2020 in the Tulsa metro.
Office
The average Asking Rent was $16.87 in the Tulsa metro
- Rent in the Tulsa metro was up 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $16.98 in the Tulsa metro.
Retail
The average Asking Rent was $12.05 in the Tulsa metro
- Rent in the Tulsa metro was down 0.2% from Q1 2024.
- Rent is expected to finish 2024 at $12.21 in the Tulsa metro.