Market Update: OKC VeloCity | Oklahoma City Economic Outlook – Full Analysis

Oklahoma City closed 2025 on solid economic footing, marked by steady job growth, historically low unemployment, and continued business investment across the metro. While growth is expected to moderate in 2026, the region enters the year from a position of strength, supported by a diverse economy and long-term development efforts.

Economic snapshot

• 6,600 jobs added in 2025, a 0.9% increase in nonfarm employment
• 3.2% average unemployment, among the lowest levels since 1990
• More than four consecutive years with unemployment below 4%
• 121 companies considering relocation or expansion in the region

2025 in review

Job growth in 2025 was spread across several key industries. Construction led the way, followed by education and health services, reflecting continued demand tied to population growth, infrastructure investment, and workforce needs. Additional gains occurred in financial activities, leisure and hospitality, and trade, transportation and utilities.

Some sectors experienced modest declines, including manufacturing, professional and business services, and government employment. Even with those decreases, overall employment growth remained positive and balanced.

Unemployment remained one of Oklahoma City’s strongest economic indicators. The metro posted an average unemployment rate of 3.2% for the year, ranking among the top 10 large U.S. metros for lowest unemployment. Rates ranged from a low of 2.4% in April to a high of 3.8% in November, staying below 4% throughout the year.

Looking ahead to 2026

Job growth is expected to continue in 2026, though at a more measured pace. Current forecasts project the addition of nearly 4,500 jobs, or about 0.6% growth. Other forecasting models tracked by the Greater Oklahoma City Chamber show similar expectations, ranging between 0.7% and 1.1%.

What to expect in 2026

• Job gains led by financial activities, manufacturing, health care, and construction
• Continued growth in professional and business services
• Flat or modest declines in trade and transportation
• Leisure and hospitality employment expected to remain steady

Employers appear to be approaching hiring cautiously. Job postings in December 2025 were essentially unchanged from the prior year, compared to an 8% increase nationally, suggesting a focus on steady, sustainable growth.

Business investment signals confidence

2025 marked the final year of Forward Oklahoma City VI, the region’s five-year economic development initiative. During the year, 113 Chamber-assisted companies announced plans to create more than 3,400 jobs, with an average annual salary of approximately $60,700. Those projects represented more than $4.45 billion in capital investment.

Over the full five-year program, companies announced nearly 23,500 jobs, $1.3 billion in payroll, and $7.4 billion in capital investment, building on the success of earlier Forward campaigns and reflecting long-term confidence in the region.

Major employers across biotechnology, manufacturing, logistics, health care, data infrastructure, and retail distribution expanded operations or announced new investments in 2025, reinforcing Oklahoma City’s appeal as a competitive place to do business.

Who is choosing Oklahoma City

Interest in the region remains strong. As of December 2025, 121 companies were actively considering relocating to or expanding in the Greater Oklahoma City region. About 70% of those prospects are in manufacturing, reflecting a national trend toward reshoring operations and strengthening supply chains in lower-cost, centrally located markets. Aerospace and distribution projects also continue to show strong interest, while office projects have improved as companies adapt to evolving workplace models.

Real estate, housing, and construction trends

The industrial real estate market is adjusting after several years of rapid growth. New construction has increased competition and vacancy, while asking rents declined slightly in 2025. Current development is largely focused on smaller, speculative projects.

The office market remained stable, with vacancy rates below the national average. Retail activity rebounded in 2025, with taxable retail sales rising more than 3% after a slight decline in 2024. Residential construction also increased, with housing starts up 13% year over year.

Construction activity is expected to accelerate in 2026, with total construction value forecast to grow by 12%, driven primarily by non-residential and infrastructure projects.