Fueled by a diversifying economy and record-breaking capital investment, Oklahoma City is riding a wave of growth that is reshaping its metropolitan landscape.

Yes, you guessed it! That means there aren't enough places for people to live.

The city's economic outlook for 2025 projects an addition of nearly 18,200 new jobs, a 2.5% increase, as sectors like aerospace, bioscience, and technology gain prominence.​

As with any metropolitan area experiencing job growth, the need for more housing is rising. Like many metros nationwide, Oklahoma City is facing a housing affordability and a housing access crisis, with the Oklahoma City Planning Department estimating a need for 45,000 new housing units.​

In May, the city passed an accessory dwelling unit ordinance to help address the shortage.​

By changing OKC's development code to allow backyard cottages, housing capacity expands, affordable housing options are created, and social benefits are increased, such as caring for an elderly parent," Assistant Planning Director Lisa Chronister says in a statement.​

Oklahoma City's boom, however, is pushing development outward, creating an urgent need for housing in the city's suburban corridors, according to a new report titled 2025 Heartland Growth Engine, produced by investment firm Catalyst Capital Fund.​

Greater Oklahoma City is no longer a hidden gem," the report notes. "It is a metro on the move, attracting billions in both public and private capital."​

The report forecasts that by 2030, the city's outlying areas will demand more than 70,000 new housing units, requiring $16 billion to $18 billion in residential and mixed-use investment to meet that need.​

Economic Growth

Oklahoma City metro's strategy of economic diversification is paying dividends, contributing to record-low unemployment in 2025. This robust job market is attracting both people and investment.​

Major economic announcements have become common, such as the development of a 300,000-square-foot Scheels superstore, a $100 million project expected to create over 200 full-time jobs and draw 2.5 million visitors annually. Other significant projects, like the Andretti Indoor Karting & Games entertainment complex, signal growing consumer demand and investor confidence in the market.​

The report also projects a need for up to 5,000 new hotel rooms and billions more for entertainment venues and supporting infrastructure, pushing the total commercial investment to between $6 and $7 billion.​

This commercial boom is expected to create thousands of jobs, further intensifying the demand for housing.​

Spreading to the Suburbs

Suburban corridors — spanning parts of Canadian, Cleveland, McClain, Oklahoma, Logan, and Pottawatomie counties — are already home to half of the metro's 1.5 million residents and are seeing some of the region's fastest population growth.​

These corridors succeed because they are underpinned by Oklahoma City's broader economic engine," the report says.​

The report projects a need for $9.7 to $11.5 billion in residential capital alone to keep pace with housing demand. The investment needs vary by corridor :​

• Cleveland and McClain counties, south of the city, require the most significant investment, with a projected need for 20,000 to 22,000 housing units costing between $3.5 and $4 billion.​
• Canadian County to the west, encompassing fast-growing communities like Yukon and Mustang, will need 15,000 to 18,000 new units, representing a $2.5 to $3 billion investment.​
• The northern corridor, including Edmond and Guthrie, is projected to need 12,000 to 15,000 units at a cost of $2 to $2.5 billion.​
• To the east, areas in Oklahoma and Pottawatomie counties will require 10,000 to 12,000 units, backed by $1.7 to $2 billion in capital.​

Feeding the Momentum

Oklahoma City voters recently added to this momentum, approving a historic $2.7 billion bond package on October 14, 2025, dedicating funds to hundreds of projects, including parks, transit, and critical infrastructure upgrades.​

These public commitments are catalyzing major private projects, like the $2.5 billion Boardwalk at Bricktown development, which, if built, would be the tallest U.S. building. Other projects include the residential conversions of historic downtown buildings.​

With a strong economic base and a clear path for public investment, the report said Oklahoma City's suburban frontier represents the most significant development opportunity in the region for the coming decade.

Oklahoma City's boom mirrors the trajectory of other rapidly growing Sun Belt metros, but its economic engine is accelerating while some national indicators show signs of cooling.

However, this rapid growth has a significant downside: a growing housing shortage and affordability crisis, a challenge echoed in fast-growing cities nationwide. As the city attracts new residents and investment, it faces the same critical test as its peers: how to manage explosive growth and meet the demand for housing without sacrificing the very affordability that fueled its ascent.