Why Out-of-State Investors Are Choosing Oklahoma Commercial Real Estate
Why Oklahoma Real Estate is a Smart Investment
Oklahoma is attracting the attention of out-of-state investors. Why? Oklahoma has several key ingredients that create a lucrative commercial real estate market.
First, Oklahoma is a prime location. By being right in the middle of the country, Oklahoma is a good central headquarters location. Both of the major cities- Oklahoma City and Tulsa- have seen a strong surge of urban renewal initiatives in the past few years, meaning more and more businesses and residents moving within the city, requiring a need for commercial real estate, from office buildings to multi-family housing. Both Tulsa and OKC have had a consistent rise in population over the past ten years, with OKC growing “twice as fast as the national average” (Why Oklahoma City's Real Estate Market Is a Good Investment in 2020) This is in part because of the state’s low cost of living, making it attractive for young professionals and families.
On the business side, “Thanks to business-friendly government incentives to grow the job market, the aviation and aerospace, bioscience, financial services and international trade sectors are keeping the economy diverse and housing market robust,” (Why Oklahoma City's Real Estate Market Is a Good Investment in 2020). These are just some of the industries to keep an eye out for. In addition, Oklahoma is very landlord-friendly, and with a strong rental market. Likewise, Tulsa is also growing in population and business, with strong housing and renter’s market (The Tulsa Real Estate Market: What Investors Should Know For 2020). With initiatives like Tulsa Remote, the city is attracting a younger workforce to live and work here.
While 2020 has certainly brought declines in the market, Oklahoma real estate has been active throughout the entire pandemic and continues to march forward, and has not suffered nearly as much as many other real estate markets in other states. As Oklahoma commercial real estate company Price Edwards noted in their midyear office market report: “The biggest story of the first half of 2020 is that the market is not nearly as damaged as it could have been.”
In short, Oklahoma commercial real estate is attractive to out-of-state (and in-state) investors because it provides a safe, reliable cash flow. Commercial properties in Oklahoma are affordable and have the right mix of quality of life + low cost of living + steady growth in population and business + low taxes.
But don’t just take our word for it, hop onto Loopnet or another listing site and check out Oklahoma commercial real estate for yourself!
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