Is Oklahoma City a Good Place to Invest in Oklahoma Real Estate? A Guide

There's no getting around the fact that the economy within Oklahoma City is more stable now than it's been in a long time. Part of this stability is due to a thriving real estate market. Listings of houses and other units are down by almost half yet investors are seeing sizable returns on those properties.

In fact, there's been an almost 10% increase in list prices, accounting for annual factors. This is why many experts consider this market to be one of the best in the country as of now. On average, the value of a home in Oklahoma City is calculated at over $167,000, and new construction at $250,000.

If you want to get more accurate calculations for the size of your home, then you can expect to get $130 per square foot of your property and sometimes more depending on location.

Another factor to consider is the speed of the market. No one wants to have a home with a listing that stagnates for months and months if not for years or longer. You'll be glad to know that most homes leave the market in under 30 days.

While that may seem quick, you can make it even quicker when you have the right experts on your team. The fact of the matter is that an investment is only as good as the real estate team that's backing it. While they'll get a portion of the profits, you'll know it's worth the investment when you see the impressive return for all your efforts.

Speaking of efforts, an investment team can do most if not all of the heavy lifting, so all you have to do is sign some paperwork and make it happen. Just be sure to do some research into various real estate investment teams before making a final decision on one.

Aside from flipping homes, most people buy real estate in Oklahoma City so that they can have a wonderful stream of long term passive income. Of course, it's not as easy as buying a home and renting it out, for instance. Rather, you'll need the best property, location, and more if you plan on getting the most out of your investment.

The good news is that the real estate market has been great for renters too. While more homes are being built in Oklahoma, there's still a demand for housing that can't quite be kept up with. This discrepancy in supply in demand has resulted in a significant amount of people who rent rather than own.

Many apartments in the area can be rented out for under $850 a month but the demand for higher quality rental housing is booming. This is attractive to plenty of people who don't have the means to purchase a house, especially when prices are higher than they've been in the recent past. Despite the price of renting rising somewhat over the years, it still remains one of the best solutions for well over a quarter of the city's inhabitants. In the last year rents are up by 12%.

In fact, some of the most popular renting locations are the suburbs because of the great school systems. The popularity also due to the higher standard of living and superior amenities.

If you're interested in the higher-end of property rentals, then look no further than Yukon, Piedmont, Mustang, Moore, Norman, Choctaw and others.  These neighborhoods boast some of the priciest rents. Depending on the type of unit, the rent can be as high as $1,950 every month.

By purchasing a new home for instance, you can end up getting a quick rental with the average vacancy at 12 days in the last year.

Another major factor to consider when you invest in real estate is the job market. The great news is that the unemployment rate in the state has been on a steady decline since the pandemic. Not only has it fallen by 3% and now down to 2.6% unemployment, but there has also been a notable increase in jobs.

Not counting farm jobs, a whopping 13,400 jobs have been added to the labor market recently. When it comes to Oklahoma City, you can be rest assured knowing how there are almost 7000,000 jobs in the metro area. Oklahoma City was one of only fourteen US metro areas to grow by over 100,000 form the last census to the current one.

Government experts predict the recovery of the economy to continue on its promising path. As that happens, you'll be able to see significant growth in a wide range of sectors, including transportation, trading, construction, financial, health, and education. Now is the best time to take advantage of all the upswings.

As if that wasn't enough, you can also take a look at the city's gross domestic product. It almost clocks in at $80 billion and is predicted to grow by over 40% over the course of the next decade.

Another way to get a handle on the job market in a specific area is by taking note of the major companies that exist there. After all, companies like Google and Apple are what make Silicon Valley as iconic as it is. The biggest businesses and corporations within Oklahoma city include Hertz, the Sonic Corporation, Boeing, AT&T, Midfirst Bank, the United Parcel Service (UPS), and American Fidelity Insurance.

It also helps a lot that the city is considered a major nexus of transportation in the Midwest. This is due to the fact that Interstate 44, 40, and 35 all connect in the metropolitan area.

It's no wonder that the city continues to show great annual job gains year after year.

Why invest in property in an area you would never want to live in. By learning about the high quality of life in Oklahoma, you'll realize why it's such a great place for investing your hard-earned money. Who knows, you may even decide to live there yourself.

Despite being such a bustling city, Oklahoma City also ranks high as being a place that balances its buildings with its nature. Everyone needs to feel connected with greenery at some point throughout the long workdays. With that in mind, you can visit one or more of the many parks that are placed throughout the city for the healing and enjoyment of everyone.

Food is another major factor when assessing the quality of life in a specific area. Your mouth might start watering as you learn how Oklahoma City has some of the highest-rated restaurants in the country. This includes Nonesuch Restaurant, OOZIE Mediterranean Restaurant, Cheever's Cafe, The Mule, and Paseo Grill, among others.

The many tourist attractions and hotspots in the city ensure the strong health of the economy. From the Oklahoma City Zoo and the Museum of Art to Brickhouse and the Science Museum Oklahoma, there's always something the residents can do for a fun time. The rently opened First Americans Museum honoring the 39 tribal groups has become a major tourist attraction. The Choctaw Nation is building a $300 million resort next to it. The shopping options are just as diverse and attractive, including Antique Avenue, Rawhide, Black Scintilla, and the Full Circle Bookstore.

This is why a lot of first-time buyers come to settle roots down in Oklahoma City over many other cities across America. In general, a vast majority of citizens see it as a place to get a fresh start and so they come to stay rather than visit for a few years and take off. Since the economy is so strong and on the rise, more and more stores are opening all the time.

Education and school rankings are yet more factors that can help you decide whether or not to invest in property in the Oklahoma City area. The suburbs in both Oklahoma City and Tulsa have a majority of the best-ranking schools in the state.

The Deer Creek School District is the number one school cluster in the entire state of Oklahoma. Made up of 9 different schools, this district has an impressive graduation rate of 96%. To put that score into perspective, it boasts more than 13 percentage points than the average rate in the state.

With a graduation rate of over 90%, Public Bixby Schools in the Tulsa Metro comes in at a relatively close second. Future and current parents can rest assured when they hear that this district of schools is also ranked second in the whole region for standardized ACT scores. We also have rental opportunities in the Tulsa metro.

Coming in third place, the Stillwater Public Schools district sports 4 secondary schools and 6 elementary ones. You can expect most of the students in these schools to get at least a "B" on their report cards if not higher. We are currently looking at a possible expansion to Stillwater for rentals. nStillwater has the second largest state univesity, Oklahoma State University.

While only in fourth place, Piedmont Public Schools have been growing a lot over the years and gaining in quality rather than slipping. They've proven themselves to be a great contender in the education arena and are yet another reason for parents to feel good about bringing their children to a new area. Piedmont is experiencing a strong new construction boom because of the schools.

The crime rate is something you should be mindful of as an investor. However, it's not the most reliable indicator of a worthwhile investment because crime can fluctuate from month to month, let alone from year to year. As of now, violent crime has been decreasing after some spikes occurred.

Despite an increase in homicides, the overall crime rate for Oklahoma City has declined by almost 10%. Of course, any crime rate should be taken with a grain of salt because urban areas have a higher density of people compared to, say, rural areas.

Aggravated assaults and robberies are also on the decline. To put the fluctuations of crime rates in specific areas into perspective, it's important to take a look at the bigger picture.

For example, property crime is a lot more common in the general United States than violent crime. Out of every set of 100,000 people, there are only about 380 violent crimes compared to over 2,100 property crimes.

The good news is that crime throughout the entire country has been declining since the 90s. While there will always be local rises and dips, the general trend is a reduction in all types of crime. In fact, violent crime has almost been cut in half when comparing the current rates to those from two decades ago.

Homicides have halved as well. Aggravated assaults have been reduced by almost 45% and robberies are down by almost 70%.

While Oklahoma City has a slightly higher crime rate compared to other metro areas, this is something that will only continue to decrease. When you buy investment property in this city, you can feel confident that it will pay off now and far in the future if you decide to rent it out.

Now that you've learned all about whether or not Oklahoma City is a good place to invest in Oklahoma real estate, you can make an informed decision. With the future of the city becoming brighter and brighter, you can have peace of mind knowing your investment will earn you a wonderful return.

We can help you get the most out of your investment. Our real estate team can walk you through every step of the process so that every dollar is working in your favor. Where it is a single family home, duplex, or 4-plex we have the investments that work for your wealth building plan.

Do you have questions about our successful services? Feel free to reach out to us so that we can get started on a fruitful relationship.