Oklahoma City Real Estate Market Overview & Forecast (2025 & 2026)

The Oklahoma City real estate market is drawing increased attention from investors, homebuyers, and developers alike. As of Q1 2025, the city offers a compelling blend of affordability, economic resilience, and growth potential—factors that make it a standout in the broader U.S. housing market.

With home prices still well below national averages and rental yields that continue to outperform many other urban markets, Oklahoma City is establishing itself as a high-opportunity location for both residential and investment real estate.

Unlike many coastal or high-demand urban markets, Oklahoma City has not experienced the same level of volatility in home values. Instead, it offers steady price growth, low cost of living, and robust population trends, creating a stable environment for long-term real estate investments.

In fact, the market has shown remarkable consistency over the last 12 months, even amid broader economic uncertainty and rising mortgage rates.

Additionally, the metro area benefits from a diversified job base spanning energy, aerospace, healthcare, logistics, and tech—sectors that provide economic resilience and attract skilled workers. With infrastructure improvements, favorable property taxes, and an ongoing revitalization of its urban core, Oklahoma City continues to offer strong fundamentals for real estate buyers in 2025 and beyond.

Overview of The Oklahoma City Real Estate Market

As of Q1 2025, the Oklahoma City real estate market is displaying steady resilience, bolstered by affordability, population growth, and a balanced economic outlook. Home prices have continued to climb at a sustainable pace, supported by a mix of local buyers, inbound migration, and relatively low barriers to entry compared to other metros. While higher mortgage rates remain a factor, the market maintains positive momentum as both demand and supply conditions support long-term growth.

The median listing price in Oklahoma City currently stands at $235,000, reflecting a 2.3% year-over-year increase.

Meanwhile, the median sold price is approximately $229,000, indicating that transactions are generally aligning with asking values. This limited discrepancy suggests a well-balanced market where neither buyers nor sellers hold dominant negotiating power.

Inventory remains stable, with 4,621 active listings and just 1,975 new listings entering the market at the end of Q1 2025. Homes are selling at a healthy pace, spending an average of 35 days on the market, which demonstrates continued buyer engagement without the frenzy seen in hotter markets.

Additionally, approximately 27.2% of homes are selling above listing price, highlighting the level of competition in desirable neighborhoods and move-in-ready homes.

The median price per square foot across Oklahoma City is currently $147, offering significant affordability relative to national averages. However, this figure varies depending on location, with areas like Nichols Hills and Edmond commanding higher premiums due to school quality, amenities, and housing stock.

More accessible neighborhoods such as Del City and Midwest City remain attractive to first-time buyers and rental property investors.

Overall, the Oklahoma City housing market is defined by:

• Median home prices up 2.3% YoY.
• Balanced inventory with stable listing volume.
• Homes selling in approximately 35 days on average.
• 27% of homes selling above list price.
• Narrow gap between asking and sold prices.

In summary, the Oklahoma City real estate market in 2025 presents an affordable, investor-friendly environment. Buyers benefit from low entry costs and steady appreciation, while sellers enjoy competitive offers in key neighborhoods.

Neighborhood Analysis

Oklahoma City’s diverse neighborhoods offer a range of property types, pricing dynamics, and investment opportunities. Understanding the characteristics and performance of each area is essential for buyers, sellers, and investors looking to analyze the Oklahoma City housing market effectively.

Nichols Hills

Nichols Hills remains one of the city’s most affluent neighborhoods, known for its upscale homes, landscaped boulevards, and proximity to luxury retail and golf clubs.

The median home price is approximately $1.05 million, with values rising 4.8% year-over-year. Properties here attract both high-net-worth individuals and institutional buyers due to the area’s exclusivity and long-term appreciation potential. Demand remains strong, with homes often receiving multiple offers and spending fewer than 25 days on the market.

Edmond

Edmond offers a suburban environment with highly rated public schools and family-friendly amenities. It’s especially appealing to move-up buyers and families seeking larger homes and proximity to top education.

The median home price is around $390,000, up 3.7% YoY. The area continues to see brisk activity, particularly for homes in gated communities and newer developments. Homes in Edmond typically sell within 30–35 days, and the inventory remains competitive due to strong buyer demand.

Downtown Oklahoma City

Downtown is seeing rapid transformation with new developments, condos, and a growing entertainment district. It appeals to young professionals and investors seeking urban rental properties.

The median home price in the area is about $325,000, with a 2.9% year-over-year increase. Properties here offer value appreciation and potential for short-term rental income due to location. Demand is stable, though competition is moderate, and properties sell within 40 days on average.

The Village

Known for its mid-century homes and walkable streets, The Village has gained popularity among first-time buyers and investors.

The median price is approximately $235,000, up 2.6% from the previous year. Its affordability and central location contribute to strong demand, especially for updated homes. Homes here sell quickly—often within 25–30 days—with limited discounting from list prices.

Moore

Moore is a high-demand suburb with growing population inflows and strong school ratings, making it attractive to both families and rental investors. The median home price is around $260,000, reflecting a 3.1% increase YoY. Moore benefits from steady new construction and solid resale activity, with average days on market at 32 days.

Neighborhood Median Prices and Price per SqFt

Oklahoma City Rental Market Overview

The Oklahoma City rental market in 2025 remains one of the most affordable and accessible among major U.S. metropolitan areas. Strong population growth, rising interest rates, and housing affordability challenges are contributing to a steady increase in rental demand.

The city’s growing job base and lower cost of living continue to attract a diverse mix of renters, including young professionals, families, and remote workers.

Average Rent Prices in Oklahoma City

As of Q1 2025, average rent prices in Oklahoma City are as follows:

• Studio Apartments: Approximately $840/month
  
  
• One-Bedroom Apartments: Around $960/month
  
  
• Two-Bedroom Apartments: About $1,190/month
  
  
• Three-Bedroom Apartments: Approximately $1,520/month
  

Compared to the previous year, this represents an average rent increase of 2.6%, reflecting stable but growing pressure in the rental sector. The uptick is most notable in newer developments and centrally located areas, where demand has outpaced supply.

Rental affordability remains a strong factor in attracting new residents from more expensive markets like Dallas and Denver. However, even with relatively low costs, the city’s rental market is tightening due to increased migration and limited new rental construction.

Rent by Neighborhood

• Downtown Oklahoma City: One-bedroom apartments average $1,350/month, driven by proximity to major employers, entertainment hubs, and lifestyle amenities.
  
  
• Midtown: One-bedroom rents are around $1,200/month, supported by local restaurants, walkability, and renovated housing stock.
  
  
• Edmond: Two-bedroom apartments typically rent for $1,400/month, favored by families and professionals seeking good schools and quieter environments.
  
  
• The Village: One-bedrooms average $1,050/month, offering affordability with quick access to retail and parks.
  
  
• Norman: Studio apartments near the University of Oklahoma rent for about $900/month, making it popular among students and faculty.
  

Vacancy Rates

The current rental vacancy rate in Oklahoma City stands at approximately 5.2%, a slight decline from 5.7% the previous year. This decrease suggests an increasingly competitive rental landscape, particularly for updated and well-located units.

Limited construction in the affordable segment has contributed to this trend, along with rising home prices that have prevented some renters from transitioning to ownership. Landlords in core and suburban neighborhoods are reporting stronger lease renewal rates and minimal turnover.

Drivers of Rental Demand

Key factors fueling rental demand in Oklahoma City include:

• Affordability Gap: With median home prices rising past $270,000, more residents are opting to rent instead of buy.
  
  
• Interest Rates: Elevated mortgage rates are discouraging first-time buyers from entering the market, keeping them in long-term rental positions.
  
  
• In-Migration: Oklahoma City continues to attract newcomers from Texas, California, and other high-cost regions.
  
  
• Remote Work Appeal: The city’s low cost of living, improving amenities, and expanding tech and healthcare sectors are drawing digital workers and young professionals.

In conclusion, Oklahoma City remains a landlord-friendly market with consistent demand and moderate rent growth. For investors, this presents an opportunity to secure income-generating assets in stable neighborhoods with favorable entry pricing and long-term upside.

Factors Influencing The Oklahoma City Housing Market

The Oklahoma City housing market in 2025 is being shaped by a combination of economic, demographic, and structural forces. These factors help determine pricing trends, buyer competition, inventory movement, and overall investor potential.

1. High Mortgage Rates: Mortgage rates in Oklahoma City continue to range between 6.6% and 7.1%, significantly affecting affordability and reducing the number of qualified buyers. As a result, more residents are delaying home purchases and remaining in the rental market. These elevated borrowing costs are also discouraging current homeowners from listing, further tightening supply.
   
   
2. Inventory Constraints: Inventory remains limited, especially in entry-level price segments. As of Q1 2025, Oklahoma City recorded approximately 2,560 active listings, down from the previous year. New construction has focused heavily on mid- to high-end developments, leaving affordable housing underbuilt and intensifying competition for lower-priced homes.
   
   
3. Inbound Migration and Population Growth: Oklahoma City continues to attract residents from California, Colorado, and Texas due to its affordable cost of living, central location, and growing employment base. This inbound migration supports both rental and ownership demand, particularly in suburbs and neighborhoods with good schools and amenities.
   
   
4. Limited New Housing Development; Despite an uptick in permits, new home construction remains below necessary levels to meet demand. Developers face challenges such as rising material costs, labor shortages, and zoning delays. Most new projects are concentrated in suburban fringe areas, offering limited relief to central city inventory pressures.
   
   
5. Rental Market Spillover; Strong rental demand is influencing purchase behavior, as higher rents drive some residents toward ownership in search of stability and long-term savings. However, for many, the cost barrier remains too high—especially for first-time buyers facing high interest rates and minimal down payment resources.
   
   
6. Job Market and Economic Growth; Oklahoma City’s economy is expanding steadily, with notable strength in aerospace, energy, and logistics. The city’s low unemployment rate (hovering around 3.2%) and consistent job creation contribute to healthy demand for both rental and owned housing, particularly in employment-adjacent areas.
   
   
7. Investor Participation: Real estate investors—particularly institutional buyers and local firms—remain active in the Oklahoma City housing market. These players are targeting single-family homes for rent, especially in suburban areas like Yukon and Moore, attracted by favorable cap rates, low entry prices, and strong rental yield potential.
   
   

Oklahoma City Housing Market Forecast for 2026

Looking ahead to 2026, the Oklahoma City housing market is expected to remain relatively stable, with modest price growth and continued demand fueled by affordability, migration patterns, and employment expansion. While high mortgage rates and limited new construction pose short-term challenges, long-term fundamentals remain favorable.

Home prices in Oklahoma City are projected to rise by 2.5% to 3.5% over the next 12 months. With the current median home price at approximately $235,000, this growth would bring average values to between $246,250 and $248,750 by early 2026. Price gains are expected to be most pronounced in fast-growing suburbs like Edmond, Mustang, and Moore, where strong family demand continues to drive appreciation.

Inventory levels are expected to remain tight, particularly for homes priced below $300,000. New housing developments are concentrated in higher-end segments, doing little to alleviate pressure in the affordable and mid-range markets. As a result, competition will remain strong for entry-level homes, especially in desirable school districts and employment corridors.

Rental demand will likely stay elevated as affordability challenges keep many would-be buyers in the rental market. Average rents are expected to grow by 2.8% to 3.2% year-over-year, with one-bedroom units projected to average between $1,065 and $1,100/month, and two-bedrooms ranging from $1,250 to $1,290/month by Q1 2026. Vacancy rates are forecast to remain low, under 4%, as new multifamily supply lags behind demand.

Submarkets such as The Village, Midwest City, and Capitol Hill are projected to attract increased buyer and investor activity, thanks to relatively low price points, steady rent growth, and proximity to major employers or revitalization zones.

Interest rates will be a key variable. If mortgage rates remain elevated or climb further, buyer activity may slow, keeping inventory constrained and extending time on market. Conversely, a modest rate decrease could lead to increased competition and stronger price growth as more buyers re-enter the market.

Economically, Oklahoma City is poised to remain resilient. The metro’s low cost of living, strong job market, and business-friendly climate are expected to continue attracting residents and investors alike. Key sectors such as aerospace, energy, and healthcare will play critical roles in sustaining job creation and housing demand.

In summary, the Oklahoma City housing market in 2026 is expected to reflect a balance of opportunity and constraint. Modest home price growth, low rental vacancy, and strong migration trends will define the landscape, creating a competitive but accessible environment for buyers, sellers, and investors.

Is It Worth Buying a Property in Oklahoma City?

Yes—purchasing property in Oklahoma City in 2025–2026 continues to be a strategic and accessible move for both homebuyers and investors. The market offers a favorable combination of affordability, stable returns, and long-term growth potential.

Affordability remains a core strength. The median home price in Oklahoma City is currently around $250,000, significantly below national and regional averages. This price point allows for more manageable mortgage payments and easier entry into homeownership, especially important for first-time buyers and investors seeking lower acquisition costs.

Home prices are projected to rise by 3% to 4% in 2026, supported by limited inventory, strong employment growth, and sustained migration from higher-cost regions. Popular neighborhoods such as Nichols Hills, The Village, and Mesta Park are expected to see above-average appreciation, driven by buyer demand and neighborhood revitalization efforts.

Rental demand in the city is robust, with vacancy rates averaging below 5.2% and rents continuing to increase steadily. One-bedroom apartments are leasing for around $1,050/month, while two-bedroom units average $1,250/month. In key rental pockets like Moore and Edmond, investors enjoy stable tenant retention and favorable cap rates, often ranging between 6% and 8%.

Low property taxes and reasonable maintenance costs further enhance investor returns. Oklahoma’s pro-landlord regulatory environment also makes the market particularly appealing to out-of-state and institutional investors looking for minimal restrictions and strong rental control.

While some buyers may be hesitant due to interest rates, many are choosing to enter the market now to lock in lower home prices and refinance later. Should interest rates decline in late 2025 or early 2026, buyer competition may increase sharply, pushing prices higher and reducing availability.

In short, Oklahoma City presents a low-barrier, high-reward real estate market with strong fundamentals and upside potential.

For buyers and investors seeking an affordable entry point with long-term appreciation and income stability, Oklahoma City stands out as one of the most balanced and resilient housing markets in 2025 and beyond.

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