• The unemployment rate for the Oklahoma City Metro was 3.3% in March, according to the Bureau of Labor Statistics. This matches the state-wide unemployment rate and remains well below the national rate of 3.7%.
  • The market-wide vacancy rate continued to tighten throughout the quarter, declining from 3.6% in Q1 2019 to 3.3% for Q2 2019.
  • Average asking rents for industrial property grew to $5.85 per sq. ft. by the close of Q2 2019. Rental rates for Class A industrial space are generally found between $6.50 and $7.00 per sq. ft. Class A rent growth has slowed, however, largely due to an oversupply of space and competition for tenants amongst landlords.
  • The aviation and aeronautics industry continues to expand their footprint in the Oklahoma City industrial market. There are nearly 240 aviation-related institutions in the greater metropolitan area, producing a combined economic output of $4.9 billion per year.