Download the full 2023 Year-end Multi-family Market Report (email required)
The Multi-family Market
In our 2022 report, we highlighted the enduring strength and consistent performance of the multifamily market, showcasing how stakeholders benefitted from steady gains in both property appreciation and rental incomes. However, the landscape shifted markedly post-pandemic, with Oklahoma City's multifamily market experiencing significant fluctuations across key indicators such as sales volume, rental rates and price per unit.
The story of 2023 diverged from recent trends. Despite continued growth, the pace of rental rate increases slowed across all asset classes. Of the properties we surveyed of over 25 units across the metro we observed a 2.7% rise in rental rates, a deceleration from the 6% increase in 2022 and the 12% uptick the preceding year. A closer examination of sales and other metrics, detailed on the following page, supports our perspective on the market's direction for 2024.... Read More
