The Oklahoma City Commercial Real Estate Market

Shanti Ryle

January 30, 2026

Rainbow-colored office buildings in Oklahoma City's downtown area

Key Takeaways

Oklahoma City is attracting national attention for its combination of affordability, access, and steady economic growth, fueling interest across all asset types.
The industrial market remains one of the metro’s strongest performers, with stable demand, healthy absorption, and leasing activity driven by local expansions and regional distribution advantages.
Office leasing is holding steady in well-located submarkets like North and Northwest, as tenants favor smaller, updated spaces and landlords adapt with repositioned assets.
Retail shows mixed signals with experiential concepts and premium brands entering the market, even as some big-box exits put short-term pressure on absorption.
Multifamily fundamentals have stayed solid, with healthy occupancy rates, modest rent growth, and strong tenant interest despite a slower pace of new development.

From its historic stockyards to its fast-growing innovation districts, Oklahoma City continues to evolve as a rising force in commercial real estate. Investors, tenants, and brokers across the country are taking note - and Crexi is here to support every step of the journey.

With powerful search tools and lead management solutions, Crexi empowers real estate professionals to explore hundreds of Oklahoma City listings and close deals faster. Whether you’re sourcing land in Mustang, marketing an industrial asset in Yukon, or leasing office space in downtown OKC, Crexi simplifies the process and connects you with active buyers and tenants across the region.

To date, Crexi has facilitated over $610 billion in property transactions and marketed listings valued at more than $7 trillion nationwide. Our platform proudly supports professionals in Oklahoma City, Edmond, Yukon, McLoud, Mustang, and beyond as the go-to digital marketplace for commercial real estate.

A man-made pond reflects two commercial real estate buildings in Oklahoma City

Oklahoma City Commercial Real Estate Overview

With a unique blend of western heritage and urban ambition, Oklahoma City has quietly become one of the most compelling commercial real estate markets in the country. Spanning eight counties and serving as the state’s economic and cultural core, the metro area combines accessibility, affordability, and a deep bench of industries.

The city’s central location and robust infrastructure make it a vital crossroads for U.S. commerce. Interstates 35, 40, and 44 intersect in OKC, positioning it as a logistical hub for north-south and east-west distribution. Will Rogers World Airport adds to that connectivity, supporting both cargo and passenger transit in and out of the region.

What draws many to Oklahoma City’s CRE market is its balance of growth potential and cost-efficiency. Compared to larger metros, OKC offers favorable cap rates, low operating costs, and steady population growth, making it a strong contender for investors seeking long-term value. In recent years, the city has also seen an uptick in adaptive reuse projects, mixed-use developments, and investment in formerly overlooked neighborhoods, signaling increasing interest in both urban and suburban submarkets.

In short: Oklahoma City is growing, diversifying, and gaining momentum.

Oklahoma City Regional Context

Oklahoma City’s growth stretches far beyond downtown, shaped by a metro area that’s both expansive and easy to navigate. A younger population, lower cost of living, and steady inflow of new residents continue to support demand across housing, retail, and employment centers. Each county in the region plays a role in how the market functions, from established business hubs to fast‑growing suburban communities. As Oklahoma City earns national and worldwide attention, the metro is becoming harder for investors and developers to overlook.

Nearly 1.5 million people live within the Oklahoma City metropolitan area, which spans more than 5,500 square miles.
Oklahoma City is made up of 10 different counties, each one contributing key strengths to the regional economy.
The median age in Oklahoma CIty is 36, about 10% younger than the U.S. average.
Although the per capita income ($38,251) and median household income ($69,895) is about 10% lower than national figures, the cost of living in Oklahoma City is about 18% lower than the U.S. average.
Oklahoma City was named the No. 1 Best Big City to Live by U.S. News and Work Report (2025-2026), in a report that evaluated more than 850 U.S. cities based on factors like quality of life, affordability, and job market.
The city has been named as a host community for the 2028 Olympic Games, putting the region on the global stage.
Oklahoma City is the 20th largest city in the U.S., with the state boasting steady growth rates that continue to drive demand for residential and commercial development.

Downtown Oklahoma City's office business sector

Oklahoma City Job Market

Oklahoma City’s job market is in a solid place, showing steady growth built on a mix of established industries and new momentum. Legacy employers continue to anchor the economy, but there’s also a noticeable shift happening - emerging sectors are gaining traction, and local policy is creating space for innovation to thrive. From major infrastructure investments to expanded business incentives, the city is laying groundwork that supports both immediate job growth and long-term stability.

The Gross Domestic Product (GDP) for the Oklahoma City MSA exceeds $100 billion, increasing by nearly 45% since 2016.
The unemployment rate in Oklahoma City is 3.8% (as of November 2025), significantly lower than the national rate.
Oklahoma City’s target industries include aviation and aerospace, bioscience, energy, logistics, and shared services.
Major employers in Oklahoma City include the State of Oklahoma, Tinker Air Force Base, Oklahoma State University, the University of Oklahoma, and INTEGRIS Health.
Industries seeing measurable job growth include construction, manufacturing, financial services, and education and health services.
A significant number of corporate giants maintain operations in Oklahoma City, such as Dell Inc., Williams-Sonoma, Sprint, and Hertz.
The city’s economy is receiving a boost from recent development projects such as the OKANA Resort and Indoor Waterpark, the OAK dining and retail district, and the OG&E Coliseum.
Oklahoma City lawmakers passed a broad range of pro-business measures in 2025, including a new R&D tax rebate, the BioSecure Act, and incentives for tourism, aerospace engineering, and more.
Oklahoma City University, the University of Central Oklahoma, and Oklahoma State University - OKC are just a few of the many colleges and universities serving students in the region.
With an expansive transportation infrastructure that includes interstates like I-35, I-40, and I-44, the Will Rogers World Airport (WRWA), and the Oklahoma City Streetcar system, major cities like Dallas, Kansas City, and Denver are within a single day’s drive.

A bird's-eye view of a roundabout intersection in Oklahoma City

Oklahoma City Industrial Market

Oklahoma City’s industrial sector continues to perform consistently, fueled by stable demand and measured growth. Leasing activity has held steady, with a mix of new tenants and expanding local operators absorbing space across key submarkets. While construction has tapered slightly, it’s keeping pace with demand, helping to keep vacancy rates in check and support rental growth. With its central location and business-friendly climate, OKC remains an excellent choice for industrial users looking to grow efficiently.

Market overview (CBRE Oklahoma City Industrial Insights H1 2025)

Vacancy rate: 4.51%
Absorption: 492,778 (H1 2025)
Under construction: 1,789,490 SF
Delivered: 492,778 SF
Key leases by tenant: Xerox Corporation (227,596 SF), Lopez Foods (43,194 SF), Taylor Sudden Service, Inc. (29,516 SF)

Crexi Insights

These are the most recent industrial lease and sales trends from Crexi Intelligence (as of January 2026):

For Lease (active)

Asking rate/SF (median): $10 per year
Median SF/listing: 4,958
Days on market: 320
Total listings on Crexi: 346 spaces

For Sale (active)

Median asking price: $1.3 million
Price/SF: $98
Asking cap rate: 7.5%
Days on market: 176
Total listings on Crexi: 131 listings for a total of 4.2 million SF

Sales Comps (past 12 months)

Median sold price: $712,400
Sold price/SF: $91
Total sales volume: $635.3 million
Median SF sold/transaction: 6,021
Total SF sold: 6.9 million
Days on market (median): 188

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Sunset light frames tall buildings in Oklahoma City with their reflection in a water feature in the foreground

Oklahoma City Office Market

The Oklahoma City office market is adjusting to a new normal, with steady tenant interest in smaller, high-quality spaces. Leasing activity is concentrated in well-located submarkets like the North and Northwest, where updated buildings and proximity to talent remain key draws. While vacancy remains elevated, tenant-friendly pricing and flexible lease terms are keeping the market active. As more landlords reposition their assets and repurpose underutilized space, the sector is evolving to meet changing needs.

Market overview (Cushman & Wakefield Q3 2025)

Inventory: 14,770,595 SF
Vacancy rate: 25.1%
Leasing activity: 182,393 SF
Absorption: -489,529 SF
Key leases by submarket: North (32,136 SF), North (25,552 SF), North (25,075 SF)
Under construction: 45,000
Largest submarkets: Central Business District, Northwest, North

Crexi Insights

Crexi provides up-to-date data on the Oklahoma City office market. Here are the most recent lease and sales trends (as of January 2026):

For Lease (active)

Asking rate/SF (median): $16 per year
Median SF/listing: 1,750 SF
Days on market: 273
Total listings on Crexi: 849 spaces

For Sale (active)

Median asking price: $1.3 million
Price/SF: $166
Asking cap rate: 7.4%
Days on market: 249
Total listings on Crexi: 154 listings totaling 3.9 million SF

Sales Comps (past 12 months)

Median sold price: $545,600
Sold price/SF: $126
Total sales volume: $106.1 million
Median SF sold/transaction: 4,132 SF
Days on market (median): 248

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A giant green-list sculpture forms the frame of a bridge across the river from Oklahoma City

Oklahoma City Retail Market

Retail activity in Oklahoma City showed mixed signals in the back half of 2025, with a handful of high-profile openings offset by some big-box closures. Experiential concepts like Slick City Action Park continued to generate momentum, while new tenants, including Restoration Hardware, showed confidence in the market’s long-term potential. Though development has slowed, investor interest remains strong, highlighted by major portfolio sales in Nichols Hills and Classen Curve. As population and income levels continue to grow, the local retail landscape seems to be positioned for reinvention.

Market overview (Cushman & Wakefield U.S. Shopping Center Reports Q4 2025)

Inventory: 32,017,218 SF
Vacancy rate: 8%
Absorption: -44,275 SF
Under construction: 14,000 SF
Deliveries: 2,800 SF (YTD)

Crexi Insights

Retail lease and sales trends from Crexi Intelligence (as of January 2026):

For Lease (active)

Asking rate/SF (median): $16 per year
Median SF/listing: 2,100 SF
Days on market: 224
Total listings on Crexi: 675 spaces

For Sale (active)

Median asking price: $1.2 million
Price/SF: $163
Asking cap rate: 7.1%
Days on market: 144
Total listings on Crexi: 174 listings for a total of 2.4 million SF

Sales Comps (past 12 months)

Median sold price: $640,800
Sold price/SF: $123
Total sales volume: $516.4 million
Sold cap rate: 10.9%
Median SF sold/transaction: 4,873 SF
Days on market (median): 176

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Oklahoma City's downtown area features many multifamily buildings with easily accessible retail commodities

Oklahoma City Multifamily Market

Oklahoma City’s multifamily market held steady through 2025, reflecting consistent demand and careful pacing on the development front. While new construction has slowed compared to recent years, occupancy remains healthy across all property classes. Modest rent growth and stable absorption suggest that renters are still finding value in the region’s affordability and quality of life. With fewer new units coming online, well-positioned properties are seeing strong interest from both tenants and investors.