Oklahoma City Investment Property for Sale - 2023 Rental Home Appreciation
The Oklahoma City (OKC) real estate market presents a great investment opportunity for real estate investors. The reason? Population growth, high demand for housing, affordable house prices, and above-average appreciation rates. In short, it offers a lot of potential for real estate investors to earn a good return on their investment.
OKC's growth, affordability, and home price appreciation should put it on any real estate investor's list.
Oklahoma City's Attractive Housing Market
The Oklahoma City metropolitan area is home to many great neighborhoods and suburbs for real estate investors to consider. They include Del City, Edmond, Nichols Hills, Warr Acres, and Yukon.
- Del City: Del City is in southeast OKC along I-40 near Tinker Air Force Base. It's close to downtown Oklahoma City and offers a suburban feel. The median listing price in Del City is $111/sqft, and the median sales price is $129,950. The median rent is $1,250/month.
- Edmond: Edmond is located north of Oklahoma City along I-35. It's considered the "Crown Jewel" of Oklahoma and known for its excellent schools that attract families. The median listing price in Edmond is $164/sqft, and the median sales price is $392,340. The median rent is $1,960/month.
- Nichols Hills – Nichols Hills is in northwest OKC near Lake Hefner. It's known for its unique, single-family homes and lush parks. The median listing price in Nichols Hills is $250/sqft, and the median sales price is $822,500. The median rent is $2,100/month.
- Warr Acres: Warr Acres is in west OKC near Lake Hefner and I-44. It's nestled in the Sandstone Hills and offers residents a suburban feel. The median listing price in Warr Acres is $123/sqft, and the median sales price is $174,900. The median rent is $1,300.
- Yukon: Yukon is located in west OKC along I-40. It's known as the Czech capital of Oklahoma and has many new construction homes that attract young families. The median listing price in Yukon is $153/sqft, and the median sales price is $279,000. The median rent is $1,750/month.
A few other neighborhoods worth noting are Bricktown, known for its many restaurants, urban beach, and public art; Norman, home of the National Weather Center; and Tulsa, home to the most extensive collection of art deco architecture in the country.
Rental Home Appreciation in Oklahoma City
Oklahoma City's growth has generated a lot of demand for rental properties. In fact, 39% of households in OKC are renter-occupied, and the city only has a 5.7% vacancy rate.
According to Realtor, the median listing price in Oklahoma City is $149 per square foot with a median sale price of $265,000. Zillow's Home Value Index reports an 18.1% change since last year. The median rent in Oklahoma City is $1,650 per month.
Affordability, appreciation, and demand combine to present a great investment opportunity for home buyers, real estate investors, and property management companies.
Economic Growth in Oklahoma City
Oklahoma City real estate isn't the only thing that's growing. OKC's population grew 17% in the past decade, almost twice as fast as the national average. It's the capital of the State of Oklahoma and already the state's largest city, and it's not projected to stop growing anytime soon.
The city's job market has grown with its population. OKC's primary industries are aviation, aerospace, biosciences, energy, and logistics. The United States Air Force, INTEGRIS Health, Paycom, Sonic, and American Fidelity are the largest employers. These employers provide well-paying jobs and stability for the city's economy. Oklahoma City's unemployment rate is just 2.2%.
In Oklahoma City, population growth, affordability, and home price appreciation combine with a robust rental market and local economy to create tremendous investment opportunities.
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