national average of 14%. The metro has over 70 million square feet of office space, with more than 400,000 square feet under construction. Asking rates average $20.32, ranging from $16.75 to $24.14. STATEWIDE OUTLOOK Oklahoma is expected to add 42,000 jobs in 2025, with nonfarm employment gains averaging 3,500 new jobs per month, a 2.3% growth rate. Job growth will be concentrated in metro areas and labor-intensive service sectors. Construction and oil and natural gas will also see strong growth. Oklahoma’s population is growing at nearly double the U.S. pace, supporting real estate, labor and consumer markets. With average prices 12% lower than the national average and inflation under 2%, the unemployment rate is expected to stay between 3.5% and 4%, while local inflation remains below 2%.
information (-2.1%), finance (-2.0%), professional business services (-1.7%), manufacturing (-1.5%) and trade, transportation and utilities (-1.0%). REAL ESTATE OUTLOOK The CoStar Industrial Market Report (January 2025) shows Oklahoma City has 152 million square feet of industrial space, with rent growing by 0.4%, below the 10-year historical average of 4.7%. The vacancy rate is 5.3%, expected to remain steady. Currently, 610,000 square feet of industrial construction is underway, primarily in the Southeast Submarket. Unlike past construction waves, the current construction is mostly speculative. The office market saw flat rent growth, underperforming the U.S. average of 1.2%. However, Oklahoma City’s vacancy rate of 9.6% outperforms the
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