As with many parts in the country, the Oklahoma apartment rental market has experienced high occupancy rate and a steady and strong increase of prices in recent years. However, the outlook on the market is expected to soften, which means the rental rates are anticipated to remain steady. Apartment rentals are more concentrated in the urban areas like Oklahoma City and Tulsa, but renters throughout the state have a variety of apartment choices that fit their needs and their budget.
Oklahoma is located in the central part of the county, but its diverse landscape of mountains, forest and lakes is also reflective of the diverse towns and cities throughout the state. Oklahoma City in Oklahoma County has the largest population in the state with roughly 620,000 people, which also makes it among the top 30 most populated cities in the United States. The Oklahoma City metropolitan area covers a seven county region with population estimates of more than 1 million people. The Oklahoma City metropolitan area has a number of neighborhoods and towns each with their own pace of life and culture. Tulsa in Tulsa County is located n the northeast area of the state is the second largest city; however, its growing metropolitan area extends to three neighboring counties of Osage, Rogers and Wagoner. Oklahoma City, Tulsa and their neighboring counties have more available apartment rentals compared to other areas in the state.
Many companies have made Oklahoma their home, but there are a handful of the major employers whose presence create a large number of jobs and make a major economic impact. Tinker Air Force Base in Oklahoma City employs about 26,000 people and has spurred the creation of roughly 33,000 secondary jobs in the area. Other top employers include Cimarron Alliance Foundation, a nonprofit that employs more than 10,000 people, and a maintenance and engineering center for American Airlines, which employs roughly 5,000 people.