103 1 Bedroom Apartments for rent in Oklahoma City, OK
February 2020 Oklahoma City Rent Report
Welcome to the February 2020 Oklahoma City Rent Report. Oklahoma City rents remained steady over the past month. In this report, we'll evaluate trends in the Oklahoma City rental market, including comparisons to similar cities nationwide.
February 2020 Oklahoma City Rent Report
Welcome to the February 2020 Oklahoma City Rent Report. Oklahoma City rents remained steady over the past month. In this report, we'll evaluate trends in the Oklahoma City rental market, including comparisons to similar cities nationwide.
Oklahoma City rent trends were flat over the past month
Oklahoma City rents have remained flat over the past month, however, they have increased marginally by 0.9% year-over-year. Currently, median rents in Oklahoma City stand at $635 for a one-bedroom apartment and $812 for a two-bedroom. Oklahoma City's year-over-year rent growth lags the state average of 1.0%, as well as the national average of 1.6%.
Oklahoma City rents more affordable than many other large cities nationwide
As rents have increased marginally in Oklahoma City, a few comparable cities nationwide have also seen rents grow modestly. Oklahoma City is still more affordable than most similar cities across the country.
- Oklahoma City's median two-bedroom rent of $812 is below the national average of $1,193. Nationwide, rents have grown by 1.6% over the past year compared to the 0.9% increase in Oklahoma City.
- While Oklahoma City's rents rose marginally over the past year, many cities nationwide also saw increases, including Phoenix (+3.7%), Dallas (+2.4%), and Seattle (+1.8%).
- Renters will find more reasonable prices in Oklahoma City than most other large cities. For example, San Francisco has a median 2BR rent of $3,090, which is more than three-and-a-half times the price in Oklahoma City.
For more information check out our national report. You can also access our full data for cities and counties across the U.S. at this link.
Methodology - Recent Updates:
Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.
Read more about our new methodology below, or see a more detailed post here.
Methodology:
Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.
Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.
Read more about our methodology here.
About Rent Reports:
Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.
We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.