Economic Indicators
The Greater Oklahoma City Partnership is your go-to source for economic and trend analysis of the Oklahoma City regional economy.
The Greater Oklahoma City Chamber produces an annual economic forecast with a comprehensive analysis of the national, state and metro economies, including historic trend analysis, an overview of the current economic situation and a forecast of the upcoming year. Read the Greater Oklahoma City 2021 Economic Forecast now.
On this page you can see economic trends in the market updated monthly.
July 2017: OKC Ranks No. 2 for Best Places for Families
Source: HomeUnion, 2017
Metro | Zip Code | School Quality Rank | Housing Affordability |
Kansas City | 64014 | 88.5 | $159,700 |
Oklahoma City | 73170 | 89.6 | $165,000 |
St. Louis | 63026 | 81.1 | $167,000 |
Palm Beach | 33496 | 87.9 | $167,500 |
Chicago | 60503 | 81.9 | $168,000 |
Indianapolis | 46112 | 86.3 | $184,100 |
Cleveland | 44147 | 87.1 | $200,000 |
Philadelphia | 19044 | 84.2 | $217,500 |
Atlanta | 30519 | 86.5 | $220,000 |
Columbus | 43065 | 86.1 | $229,500 |
- The zip code 73170, located in south Oklahoma City, ranked high in both school quality and housing affordability, resulting in the Oklahoma City metro being ranked No. 2.
- HomeUnion analyzed neighborhoods with the most affordable homes and highest-ranked public schools.
- HomeUnion shows that homes purchased within these zip codes will see property values increase faster than others in their metro.
- The National Bureau of Economic Research found that for every dollar spent on public schools in a community, home values increased by $20.
Monthly Economic Indicators - prepared February 2017
Total Population
Source: U.S. Census Bureau, Population Estimates
Employment - OKCMSA
Source: U.S. Bureau of Labor Statistics; LAUS; Note: BLS Methodology changes resulted in revisions going back to Jan 2006
Nonfarm Employment
Source: U.S. Bureau of Labor Statistics; Not Seasonally Adjusted; Note: BLS Methodology changes resulted in revisions going back to Jan 2006
Nonfarm Employment (CES) - OKCMSA | December 2016 | December 2015 | % CHANGE |
Total Nonfarm | 636,000 | 635,500 | 0.1 |
Goods Producing | 82,100 | 85,100 | -3.5 |
Service-Providing | 553,900 | 550,400 | 0.6 |
Mining and Logging | 14,800 | 18,000 | -17.8 |
Construction | 31,000 | 30,200 | 2.6 |
Manufacturing | 36,300 | 36,900 | -1.6 |
Trade, Transportation, and Utilities | 113,300 | 113,900 | -0.5 |
Retail Trade | 70,500 | 69,500 | 1.4 |
Information | 8,200 | 8,100 | 1.2 |
Financial Activities | 34,900 | 33,300 | 4.8 |
Professional and Business Services | 78,000 | 80,400 | -3.0 |
Education and Health Services | 95,400 | 90,900 | 5.0 |
Leisure and Hospitality | 67,500 | 68,600 | -1.6 |
Other Services | 24,400 | 24,700 | -1.2 |
Government | 132,200 | 130,500 | 1.3 |
Average Weekly Earnings
Source: U.S. Bureau of Labor Statistics; Not Seasonally Adjusted; Earnings of Production Employees
Average Weekly Earnings - Oklahoma | December 2016 | December 2015 | % CHANGE |
Mining and Logging | $1,190.80 | $1,166.22 | 2.1 |
Manufacturing | $758.65 | $768.95 | -1.3 |
Wholesale Trade | $800.43 | $738.34 | 8.4 |
Building Permits
Source: U.S. Census Bureau; New Privately Owned Housing Units Authorized
Building Permits - OKCMSA | December 2016 | December 2015 | % CHANGE |
Total | 419 | 406 | 3.2 |
Single Unit | 402 | 394 | 2.0 |
Double Units | 12 | 12 | 0.0 |
3 & 4 Units | 0 | 0 | 0.0 |
5 + Units | 5 | 0 | >100.0 |
Bldgs w/ 5+ Units | 1 | 0 | >100.0 |
Residential Sales
Source: Oklahoma City Metro Realtors Association - MLS Statistics
Residential Sales - OKC | December 2016 | December 2015 | % CHANGE |
Total Closed | 1,692 | 1,548 | 9.3 |
Median Sales Price | $158,000 | $153,000 | 3.3 |
Average Interest Rate | NA | NA | NA |
Average Days on Market | 61 | 72 | -0.2 |
FHFA House Price Index - OKCMSA
Source: Federal Housing Finance Agency; All-Transactions Index (Estimated Using Sales Prices and Appraisal Data)
FHFA House Price Index - OKCMSA | Q3-2016 | Q3- 2015 | % CHANGE |
OKCMSA | 204.66 | 196.90 | 3.9 |
Apartment Rent Rates
Source: C2ER
Apartment Rent Rates - OKC | Q4-2016 | Q4-2015 | % CHANGE |
Average cost of 900sf, 2bed, 1 bath | 818.00 | 794.00 | 3.0 |
CPI
Source: Bureau of Labor Statistics; All Urban Consumers; Unadjusted Index; All Items
CPI | December 2016 | December 2015 | % CHANGE |
Composite (CPI-U) U.S. City Average | 241.4 | 236.5 | 2.1 |
Major Airport Traffic
Source: Will Rogers World Airport
Major Airport Traffic | December 2016 | December 2015 | % CHANGE |
Year to Date Passengers | 3,715,374 | 3,720,455 | -0.1 |
Monthly Enplanements | 158,181 | 159,120 | -0.6 |
Monthly Deplanements | 147,644 | 146,380 | 0.9 |
Tourism
Source: Smith Travel
Tourism - OKC | December 2016 | December 2015 | % CHANGE |
Hotel/Motel Occupancy Rates | 48.1% | 51.3% | -6.2 |
Average Daily Rates | $77.96 | $80.36 | -3.0 |
Commercial Real Estate
Source: * Xceligent Q3 2015 and 2016 Industrial, Office
Commercial Real Estate - OKCMSA | Q4 2016 | Q4 2015 | % CHANGE |
Office Vacancy Rate (Direct) | 13.0% | 10.9% | 19.3 |
Office Rental Rate (Direct/Weighted Avg.) | $17.88 | $17.04 | 4.9 |
Industrial Vacancy Rate | 6.2% | 6.2% | 0.0 |
Industrial Rental Rate (Weighted Avg.) | $4.51 | $4.22 | 6.9 |
c2ER Cost of Living Index
Source: C2ER; 100 represents national avg; Example: 84.6 indicates that OKC is 15.4% below the nation in cost of living
C2ER Cost of Living Index - OKC | Q4-2016 | Q4-2015 | % CHANGE |
Composite (All Items) | 84.6 | 88.1 | -4.0 |
Grocery Items | 91.5 | 91.2 | 0.3 |
Housing | 71.4 | 75.3 | -5.2 |
Utilities | 89.7 | 102.6 | -12.6 |
Transportation | 82.2 | 89.5 | -8.2 |
Health Care | 90.5 | 95.1 | -4.8 |
Misc. Goods & Services | 90.8 | 91.9 | -1.2 |
Sales Tax Receipts
Source: Oklahoma Tax Commission; December 2016 News Release
Sales Tax Receipts - OKC | December 2016 | December 2015 | % CHANGE |
Primarily December 2016 w/ January 2017 estimates | $32,829,527 | $34,911,211 | -6.0 |
July 2017: OKC Ranks No. 2 for Best Places for Families
Source: HomeUnion, 2017
Metro | Zip Code | School Quality Rank | Housing Affordability |
Kansas City | 64014 | 88.5 | $159,700 |
Oklahoma City | 73170 | 89.6 | $165,000 |
St. Louis | 63026 | 81.1 | $167,000 |
Palm Beach | 33496 | 87.9 | $167,500 |
Chicago | 60503 | 81.9 | $168,000 |
Indianapolis | 46112 | 86.3 | $184,100 |
Cleveland | 44147 | 87.1 | $200,000 |
Philadelphia | 19044 | 84.2 | $217,500 |
Atlanta | 30519 | 86.5 | $220,000 |
Columbus | 43065 | 86.1 | $229,500 |
- The zip code 73170, located in south Oklahoma City, ranked high in both school quality and housing affordability, resulting in the Oklahoma City metro being ranked No. 2.
- HomeUnion analyzed neighborhoods with the most affordable homes and highest-ranked public schools.
- HomeUnion shows that homes purchased within these zip codes will see property values increase faster than others in their metro.
- The National Bureau of Economic Research found that for every dollar spent on public schools in a community, home values increased by $20.
June 2017: OKC Ranks No. 1 for Best Large Cities to Start a Business
Source: WalletHub, 2017
Rank | City | Total Score | Business Environment Rank | Access to Resources Rank | Business Costs Rank |
1 | Oklahoma City | 56.85 | 6 | 71 | 21 |
2 | Salt Lake City | 55.14 | 101 | 1 | 25 |
3 | Charlotte | 54.9 | 14 | 36 | 48 |
4 | Tulsa | 54.16 | 53 | 35 | 12 |
5 | Grand Rapids | 54.02 | 48 | 55 | 10 |
6 | Durham | 53.59 | 69 | 14 | 29 |
7 | St. Louis | 53.54 | 68 | 28 | 8 |
8 | Austin | 53.37 | 4 | 9 | 127 |
9 | Amarillo | 53.31 | 25 | 19 | 82 |
10 | Sioux Falls | 52.77 | 50 | 64 | 18 |
- WalletHub compared the 150 most populated U.S. cities searching for the “Best Large Cities to Start a Business.”
- WalletHub ranked Oklahoma City No. 1 using 16 key metrics such as office space affordability, educational attainment of the local labor force and five-year survival rate.
- OKC ranked No. 1 for energy costs and No. 3 for cost of doing business for metropolitans with more than one million people, according to Moody’s North American Business Cost Review, 2016.
May 2017: OKC Ranks No. 2 for First-Time Homebuyers
Source: SmartAsset, 2017
Rank | City | # of Mortgage Lenders | Loan Funding Rate | Avg. Value per SF | Market Volatility | Negative Quarters Since 2011 | Index |
1 | Pittsburgh, PA | 35 | 79% | $82.08 | 1.40% | 0 | 100 |
2 | Oklahoma City, OK | 83 | 75% | $77.67 | 2.10% | 4 | 91 |
3 | Omaha, NE | 56 | 84% | $107.08 | 2.10% | 5 | 87 |
4 | Indianapolis, IN | 73 | 77% | $70.58 | 2.30% | 5 | 83 |
5 | Tulsa, OK | 51 | 74% | $71.83 | 2.40% | 5 | 80 |
6 | San Antonio, TX | 125 | 63% | $80.50 | 3.00% | 3 | 78 |
7 | Houston, TX | 204 | 69% | $87.50 | 4.10% | 4 | 73 |
8 | Colorado Springs, CO | 85 | 78% | $124.92 | 3.70% | 5 | 72 |
9 | Fort Worth, TX | 48 | 74% | $86.33 | 4.10% | 5 | 71 |
10 | Louisville, KY | 72 | 75% | $87.92 | 2.30% | 5 | 70 |
- Oklahoma City ranked No. 2 on the list for “The Best Cities for First-Time Homebuyers” based on affordability, mortgage availability and the stability of the housing market in every U.S. city with a population of more than 300,000.
- According to Zillow, the average value per square foot of residential real estate in OKC is just $77.67, ranking among the lowest in the United States.
- Oklahoma City’s market has been among the most stable in the past five years; the quarterly FHFA home price index has declined on just four occasions since Q1 2011.
April 2017: OKC Ranks No.8 for Educated Millennial Population Growth
Source: Forbes; U.S. Census Bureau American Community Survey One-Year Estimates, 2010-2015
City | Educated Millennials Core City Population Percentage Growth | Educated Millennials Metro Area (Excl. core city) Percentage Growth | Ratio of Core City Growth to Metro Area Growth |
Providence | 26.4% | -0.6% | 47.42 |
Birmingham | 56.2% | -6.9% | 8.2 |
Richmond | 35.0% | 6.4% | 5.47 |
Salt Lake City | 57.7% | 11.0% | 5.24 |
New Orleans | 34.3% | 12.9% | 2.65 |
Hartford | 65.7% | 27.0% | 2.44 |
San Jose | 34.0% | 14.1% | 2.4 |
Oklahoma City | 20.0% | 8.5% | 2.34 |
Louisville | 10.4% | 6.6% | 1.86 |
Milwaukee | 24.9% | 17.0% | 1.46 |
Jacksonville | 33.3% | 26.5% | 1.26 |
Indianapolis | 28.4% | 22.7% | 1.25 |
Nashville | 45.0% | 42.0% | 1.07 |
Memphis | 10.7% | 10.0% | 1.07 |
Raleigh | 18.8% | 19.7% | 0.96 |
Tucson | 2.4% | 3.3% | 0.73 |
Grand Rapids | 51.5% | 88.6% | 0.58 |
Buffalo | -4.6% | 15.6% | 0.29 |
Norfolk | 1.8% | 23.4% | 0.08 |
Rochester | -12.9% | 22.2% | -0.58 |
- Educated millennials are defined as those between the ages 25-34 with a bachelor’s degree or more.
- Larger numbers of educated millennials are seen as an indicator of urban revitalization.
- The Greater Oklahoma City region currently has 19 colleges and universities with 142,574 students enrolled in the 2015-2016 school year.
- Oklahoma City also ranks No. 8 in the top ten cities in which millennials are buying homes.
March 2017: Cost of Living in OKC
Source: C2ER Cost of Living Index, 2016 Annual Average Data
Source: Oklahoma State Regents for Higher Education – Data After Five Years for All State System Graduates 2008-2009 (Graphs depict data of the 2008-2009 graduates working in the Greater Oklahoma City Region)
- If you are earning $70,000 after tax in Boston, the comparable income to achieve the same standard of living in Oklahoma City is $39,993.
- How much less will you spend in Oklahoma City than Boston?
- Groceries ......................................13%
- Housing .........................................65%
- Utilities............................................43%
- Transportation ..............................27%
- Health............................................32%
February 2017: Five years after graduation – How are we doing at retaining our college graduates?
Source: Oklahoma State Regents for Higher Education – Data After Five Years for All State System Graduates 2008-2009 (Graphs depict data of the 2008-2009 graduates working in the Greater Oklahoma City Region)
- More than 25,000 students graduated from an Oklahoma college or university in 2008-2009.
- Five years later, about 62 percent of those graduates were found to be working in Oklahoma.
- Of those nearly 16,000 statewide graduates, about 60 percent are working in the Greater Oklahoma City region while 20 percent are working in the Tulsa region.
- Of the Ph.D. graduates, 95 percent work in the Greater Oklahoma City region.
January 2017: OKC Ranks No. 8 in “Fastest Growing Median Wage Growth”
Source: Bureau of Labor Statistics
Rank | Metro | Median Wage Growth (2005 – 2015) |
1 | San Antonio, TX | 9.50% |
2 | Pittsburgh, PA | 7.50% |
3 | San Jose, CA | 7.20% |
4 | Houston, TX | 6.40% |
5 | New Orleans, LA | 6.30% |
6 | Washington, D.C. | 6.20% |
7 | Salt Lake City, UT | 5.60% |
8 | Oklahoma City, OK | 5.30% |
9 | Virginia Beach, VA | 5.20% |
10 | Seattle, WA | 4.30% |
- Headlight Data conducted a study of median wage growth in the 53 largest metropolitan regions with populations over 1 million from 2005-2015. Oklahoma City ranks No. 8 with 5.3 percent median wage growth.
Source: Moody’s Analytics
North American Business Cost Review | ||||||||||
Metro | Cost of Doing Business | Unit Labor Cost | Energy Cost | State & Local Tax | Office Rent | |||||
Index | Rank | Index | Rank | Index | Rank | Index | Rank | Index | Rank | |
Oklahoma City, OK | 86 | 3 | 105 | 27 | 75 | 1 | 64 | 5 | 62 | T-6 |
Kansas City, MO | 93 | 14 | 114 | 46 | 91 | 15 | 77 | 14 | 62 | T-6 |
Nashville, TN | 82 | 1 | 100 | 14 | 93 | 16 | 66 | 8 | 51 | 1 |
Indianapolis, IN | 88 | T-6 | 96 | 6 | 102 | 24 | 96 | 34 | 62 | T-6 |
San Antonio, TX | 88 | T-6 | 92 | 3 | 86 | 9 | 63 | 3 | 87 | 34 |
- Moody’s Analytics released the 2016 edition of the North American Business Cost Review. Indices were calculated for each category based on different factors such as employment, electricity sales, wage and salary disbursements, etc.
- Oklahoma City ranked in the top five in the lowest Cost of Doing Business, Energy Cost, and State & Local Tax categories
December 2016: Assessing Unemployment Rates in Oklahoma City MSA
- Using data from the Bureau of Labor Statistics, we have identified the lowest and highest rate of unemployment in the Oklahoma City MSA.
- Legal occupations enjoyed the lowest unemployment rate at 0.6 percent while farming and fishing occupations had the highest at 7.0 percent.
- The chart above also shows how the OKC MSA unemployment rate has compared to the state and nation in 2016.
November 2016: OKC Ranks No. 9 in “Best Cities for People with Disabilities”
Source: Wallethub, U.S. Census
Ranking | City | Index Score | ‘Economy’ Rank | ‘Quality of Life’ Rank | ‘Health Care’ Rank |
1 | Overland Park, KS | 65.65 | 1 | 78 | 1 |
2 | Scottsdale, AZ | 60.94 | 2 | 39 | 23 |
3 | Lincoln, NE | 58.76 | 11 | 41 | 4 |
4 | Gilbert, AZ | 57.49 | 4 | 63 | 27 |
5 | Peoria, AZ | 56.51 | 6 | 47 | 36 |
6 | Huntington Beach, CA | 56.01 | 54 | 33 | 7 |
7 | Honolulu, HI | 55.8 | 65 | 1 | 49 |
8 | Irvine, CA | 55.49 | 74 | 29 | 5 |
9 | Oklahoma City, OK | 54.84 | 21 | 62 | 6 |
10 | Chandler, AZ | 54.67 | 10 | 54 | 40 |
- WalletHub compared the 150 most populated U.S. cities to determine the most disability-friendly cities in America.
- Wallet Hub used 25 metrics such as “number of physicians per capita” and “park accessibility” to compile an index score for each location.
- Oklahoma City ranked No. 9 overall and No. 6 in health care, proving to be a disability-friendly city.
October 2016: OKC Ranks No. 7 in “Best Cities to Start a Career”
Source: Wallethub, U.S. Census
Ranking | City | Index Score | ‘Professional Opportunities’ Rank | ‘Quality of Life’ Rank |
1 | Salt Lake City, UT | 69.56 | 1 | 10 |
2 | Denver, CO | 65.27 | 3 | 14 |
3 | Austin, TX | 64.37 | 9 | 7 |
4 | Sioux Falls, SD | 63.85 | 7 | 12 |
5 | Minneapolis, MN | 62.67 | 8 | 16 |
6 | Raleigh, NC | 62.29 | 16 | 9 |
7 | Oklahoma City, OK | 62.11 | 5 | 32 |
8 | Amarillo, TX | 61.94 | 6 | 33 |
9 | Houston, TX | 61.04 | 2 | 59 |
10 | Corpus Christi, TX | 60.1 | 4 | 74 |
- WalletHub compared the 150 most populated U.S. cities for professional opportunities and quality of life to find the best cities to start a career.
- Using 17 metrics such as availability of entry-level jobs, annual job-growth rate and median annual income, WalletHub determined the strength of each city’s job market as well as the attractiveness of the social setting.
- Oklahoma City ranked No. 7 due to positive professional opportunities ranking and a high quality of life ranking.
September 2016: OKC Ranks No. 1 in “Top 10 Large Cities in America for Seniors”
Source: Senior Advice, U.S. Census, 2016
Ranking | Metro | Health & Safety | Recreation & Leisure | Quality of Life | SeniorScore |
1 | Oklahoma City, OK | 70 | 71 | 77 | 80 |
2 | Austin, TX | 71 | 65 | 84 | 79 |
3 | Pittsburgh, PA | 76 | 78 | 61 | 79 |
4 | Louisville, KY | 67 | 70 | 70 | 79 |
5 | Fort Worth, TX | 73 | 65 | 79 | 79 |
6 | Richmond, VA | 71 | 71 | 72 | 78 |
7 | St. Louis, MO | 69 | 74 | 69 | 78 |
8 | Omaha, NE | 74 | 71 | 63 | 78 |
9 | Cincinnati, OH | 70 | 75 | 65 | 77 |
10 | San Antonio, TX | 66 | 63 | 81 | 76 |
- SeniorAdvice.com created a SeniorScore based on over 100 variables including health and safety, leisure and recreation, and overall quality of life and ranked the top 10 cities.
- Oklahoma City tops the list by being the most livable city with access to senior housing and healthcare, a pleasant climate and a multitude of recreational options.
- The study shows Oklahoma City has 716 pharmacies, 486 churches and 114 senior living facilities in the area.
August 2016: OKC Ranks No. 5 For “Least Expensive Places To Own A Home”
Source: US Census; 2013
Lowest Monthly Housing Costs | |||
Ranking | City | Median Monthly Housing Costs | % of Income Spent on Housing Costs |
1 | Pittsburgh, PA | $796 | 18% |
2 | Birmingham, AL | $818 | 17% |
3 | New Orleans, LA | $824 | 20% |
4 | Buffalo, NY | $845 | 17% |
5 | Oklahoma City, OK | $847 | 16% |
Highest Monthly Housing Costs | |||
Ranking | City | Median Monthly Housing Costs | % of Income Spent on Housing Costs |
1 | San Jose, CA | $2,430 | 24% |
2 | San Francisco, CA | $2,232 | 22% |
3 | Anaheim, CA | $2,132 | 25% |
4 | Oakland, CA | $1,983 | 24% |
5 | San Diego, CA | $1,817 | 25% |
- Angie’s List determined which cities are the most and least expensive based on all home costs: mortgage, utility costs, real estate taxes, property insurance, maintenance and repairs.
- Oklahoma City ranks No. 5 on the least expensive places to own a home.
- When considering each location’s average wage, Oklahoma City ranked No. 1 on lowest percentage of income spent on housing costs.
July 2016: OKC Ranks #1 for Most Affordable Metros for Young Adults
Source: Economic Policy Institute, CareerTrends, 2016
Ranking | Metro | Population (Million) | Estimated Monthly Budget |
1 | Oklahoma City, OK | 1.3 | $2,109 |
2 | Cincinnati, OH | 2.13 | $2,117 |
3 | Detroit, MI | 4.29 | $2,173 |
4 | Cleveland, OH | 2.07 | $2,176 |
5 | San Antonio, TX | 2.24 | $2,201 |
6 | Memphis, TX | 1.34 | $2,231 |
7 | Grand Rapids, MI | 1.01 | $2,234 |
8 | Pittsburgh, PA | 2.36 | $2,260 |
9 | Columbus, OH | 1.95 | $2,266 |
10 | Minneapolis, MN | 3.42 | $2,269 |
- CareerTrends found the 32 most affordable metros for young adults.
- The average cost for young adults in large metros is $2,571 per month.
- The Oklahoma City estimated monthly budget includes:
Food: $271
Healthcare: $189
Housing: $486
Other Necessities: $366
Taxes: $322
Transportation: $475
DOWNLOAD ECONOMIC INDICATOR REPORTS FROM PREVIOUS MONTHS:
PAST ANNUAL ECONOMIC FORECASTS
Greater Oklahoma City 2011 Economic Forecast - steady growth ahead for Greater OKC
Greater Oklahoma City 2013 Economic Forecast - OKC Demonstrates Patience, Continues to Expand
Greater Oklahoma City 2015 Economic Forecast - Oklahoma City faces a contradiction of forces in 2015
Greater Oklahoma City 2016 Economic Forecast
Greater Oklahoma City 2017 Economic Forecast
Greater Oklahoma City 2018 Economic Forecast