Between 2019 and 2021, Oklahoma City experienced the tenth largest drop in vacant rental housing nationally, experiencing a decline of 51% overall.
That means now is a great time to purchase an investment property in one of the city's most popular neighborhoods. These areas have a high demand for rentals due to their proximity to employment opportunities, good safety ratings, and great community vibe.
Keep reading to discover the Oklahoma City neighborhoods that are bound to attract high rentals and abundant renters.
1. Oklahoma City
Thanks to a rapidly growing job market that's expanded by 330,000 jobs in the last ten years, Oklahoma City real estate investors will find no shortage of people looking to rent a home.
Here, around 40% of people rent their homes, and rents have increased by an average of 17% annually due to high demand. Nowadays, the average rent for real estate in Oklahoma City is $871.
Edmund is a suburb of Oklahoma located along the I-35, north of the city.
It offers easy access for those who work in the metro and is also home to two universities, namely Oklahoma Christian University, and the University of Central Oklahoma. The top attractions in this neighborhood include the popular Arcadia Lake and Spring Creek Park recreation areas.
Edmund Public Schools is one of the fastest-growing school districts in the state, offering a high standard of education as well as an excellent early childhood center.
These aspects make Edmund an attractive area for real estate investments targeting students as well as families. The average rent in Edmund is $1,047.
On the southern boundary of Oklahoma City along the I-35, you'll find Norman. This suburban town is about a 30-minute drive from the city center, close to Lake Thunderbird State Park.
Norman has a dense suburban feel and is a popular choice for young professionals thanks to its abundant coffee shops, parks, and restaurants.
It's one of the best places to invest in real estate in Oklahoma City if you want to attract affluent, up-and-coming tenants paying an average rent of $875 per month.
Nearly half the residents of this suburb to the northwest of Oklahoma City rent their homes. Bethany is popular for its awesome community vibe and safe atmosphere.
Proximity to the Stinchcomb Wildlife Refuge and Lake Overholser add to the appeal of Bethany, and the average rent in this area is $855.
5. Midwest City
Located just a few minutes south of Oklahoma City, Midwest City is a hub of family attractions and excellent shopping opportunities. It also boasts steady employment growth and is home to the Tinker Air Force base.
It has a low cost of living and 43% of residents rent their homes. The average rental in this family-friendly town is around $847.
Make the Most of Your Investment in Oklahoma City Neighborhoods
Whichever of these Oklahoma City neighborhoods appeals to your business sense, a reputable property management firm can help you maximize its earning potential.
We can help you with every aspect of running and maintaining your Oklahoma real estate investments, from finding a qualified tenant, to making sure you get your rental on time every month.
Book an appointment now to discuss our range of services and discover how we can help you.