Oklahoma City, OK Multifamily Market Report | Colliers | Q1 2026

Market Overview

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The Oklahoma City multifamily market began Q1 2026 with signs of recalibration, as total inventory reached 104,619 units following 177 new deliveries, a year-over-year decline. Net absorption rebounded to 174 units after turning negative the prior quarter, while units under construction fell for a tenth consecutive quarter to 534, the lowest level in recent years. Overall occupancy held steady at 95%, with Class B at 95.3% and Class C at 95.6% leading performance, while Class A softened slightly to 93.7%. Average monthly asking rents rose to $1,067, up from $1,060 the previous quarter, with Class A averaging $1,233, Class B at $1,076, and Class C at $900. With moderating supply, rebounding absorption, and stable occupancy across the metro's eight submarkets, the market outlook remains positive heading into the remainder of 2026.

‍About Colliers

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Colliers is a global real estate services and investment management firm operating across more than 70 countries. The firm offers comprehensive brokerage, capital markets, valuation, advisory, and research services. Their Q1 2026 Oklahoma City multifamily report tracks occupancy, rents, absorption, deliveries, and construction activity across eight distinct submarkets to help owners, developers, and investors assess market conditions and opportunities. To read the full report, click here.