Similar Stories to Steady Apartment Demand Keeps Rents On The Rise In Oklahoma City on Bing News

NewsOK.com RSS - business >> !The Oklahoman, Daily Oklahoman: Business
Fri, 02/21/2020 - 6:26pm

Apartment rents are on the rise, despite all the new construction, because of steady demand, steady renovation of existing stock and steady occupancy. That's according to CBRE's 2019 Oklahoma City Apartment Overview and 2020 Forecast, compiled by brokers Eva Wills and William Forrest. Rent According to CBRE, across the metro area: The average monthly rent for two-bedroom apartments built before 1990 (when most apartments here were built) rose 6.9% to $724 last year, compared with $677 in 2018, $667 in 2017, $664 in 2016, and $665 in 2015. The average monthly rent for one-bedroom apartments built before 1990 rose 7.8% to $610 last year, compared with $566 in 2018, $557 in 2017 and $547 in both 2016 and 2015. Nationally, one-bedroom rents increased 3% on average, from $1,541 in 2018 to $1,586 in 2019, according to Apartmentguide.com's annual Rent Report. Nationally, two-bedroom rents increased 1.7%, from $1,779 in 2018 to $1,808 in 2019, the report said. Statewide, Apartmentguide said, one-bedroom rents fell 6.3% last year to $756. Occupancy Occupancy has been remarkably steady here for 20 years.Read more on NewsOK.com

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