Texas and Oklahoma: ‘Room for Rent’… available in your wallet

​​​​​TEXAS – Major metros in Texas and Oklahoma offer more
affordable multifamily housing alternatives than other parts of the United
States.

The country’s year-over-year rent growth averaged 5.5
percent at mid-year, exceeding the 8-year average of post-recession gains and
far above the pace of consumer inflationary increases.

In Texas and Oklahoma, while apartment rent growth is
likewise a prevalent pattern, the major markets still fall below the national
benchmark and are comparatively more affordable than other major metros.

The average nationwide rent payment now consumes 40 percent
of household income. Multifamily renters in Texas and Oklahoma have
extra room in their wallets with rent-to-income ratios all under 30 percent and
as low as 20 percent in Oklahoma City.