Is okc a growing market? If so why what makes it appealing to investors?
If we take a look at the data it's easy to see why Oklahoma City is a growing market and why this is good for investors.
Let take a look a few metrics
- Population has increased over 100k since the beginning of the decade
- Household incomes are up 2.55% Year over Year
- The median age of a property has increased due to large numbers of new units coming on the market the past few years.
Why this is good for investors:
- Rents are up over 6% since last year
- Home values are 8% up from last year
Data is from American community survey
Hope this helps!
still not up to our peak of rents when oil was 130 plus a barrel but getting better. i would be curious to see where they get their rental numbers from. not sure there are really any accurate numbers out there.
We buy rental homes in OKC and Tulsa and we are having great success in those markets. OKC seems to have pretty much linear growth. Can't go wrong with either one. Good luck!!
@Obi Emegano It depends on what your investment strategy is. If I’m looking at the metrics @Art Perkitny posted from a buy-and-hold perspective, I’m concerned because median purchase prices are going up faster than rents so cash flow is squeezed. You’ll have to hang on longer to let rents catch up to the purchase price to see net gain on the investment.
Flippers are only playing on the median purchase curve since they are both buyers and sellers with a value ad in between so their margins are tight, too.
I will add this, there are a lot of good things going on in our fair city, job growth, thankfully some job diversification, low unemployment, local investment (MAPS) to improve the livability of the city. All of which means: Our sleepy little cow-town on the plains isn’t under the radar anymore. There is a lot of competition for deals. At the end of the day, the rules haven’t changed, you have to know what your goals are, shop carefully, and be firmly flexible in your exit strategy.
@Obi Emegano it's slowly growing but it's not an exciting market like it sounds like you might be looking for. People invest here for stability and cash flow. You won't wake up in 3 years with equity that will allow you to retire, but you will hold rent rates through downturns, cash flow while you own and can bet on cashing out in 20 years when you sell.
Hey any wholesalers out there who specialize in multifamily? OKC area.
I am looking at OKC for both my retirement and building a rental portfolio for my 2 teenage boys.
Been researching Ohio and like what I see in the burbs. I may contact a few of the posters here. THanks. -Investor : buy and hold, $45K down, up to $400K. Mainy of the city listings I see don't have quite the numbers to make it work. A local specialist and expert would really help determine which pockets are good.
Here is a recent article about Oklahoma in general from a population trend perspective. It may help you make an informed decision on whether or not to invest in OKC