Airbnb City Guide: The Best Places To Invest in Oklahoma City, Oklahoma

Airbnb Rules and Regulations in Oklahoma City, Oklahoma

Oklahoma City has a set of regulations for short-term rentals to ensure a balanced and safe environment for both hosts and guests. Hosts are required to obtain an annual Hotel/Motel License for each rental unit at a cost of $24. Additionally, those operating in residential zones or Historic Preservation Districts must secure a special exception from the Board of Adjustment if the property is not their primary residence.

Safety measures, such as working smoke detectors, carbon monoxide detectors, and fire extinguishers, are mandatory in all listings. Hosts must also collect and remit the 5.5% hotel tax on the listing price for stays up to 29 nights, which Airbnb collects on behalf of hosts in Oklahoma City. By adhering to these regulations and maintaining open communication with guests and local authorities, Airbnb hosts can contribute to the thriving short-term rental market in Oklahoma City while fostering a positive experience for all parties involved.

Oklahoma City Airbnb Market Data:

• Average Revenue – $22.2K per year
• Average Daily Rate – $143.6 per night
• Average Occupancy Rate – 53%
• Average RevPAR – $76.8
• Average Home Prices – $198,826

1. Top Place to Invest in Oklahoma City, Oklahoma - Downtown Oklahoma City

Downtown Oklahoma City is the city's vibrant heart, offering diverse entertainment, dining, and cultural experiences. This bustling area has undergone significant revitalization in recent years, making it an attractive option for Airbnb investors looking to capitalize on the growing tourism industry and strong rental demand.

Downtown Oklahoma City Airbnb Market Data

• Average Revenue – $23.8K per year
• Average Daily Rate – $146.4 per night
• Average Occupancy Rate – 56%
• Average RevPAR – $79.8

Convenience: 8/10

Downtown Oklahoma City offers exceptional convenience, with easy access to public transportation, major highways, and the Will Rogers World Airport. The area is highly walkable, with numerous restaurants, shops, and services within a short distance, making it an ideal location for both short-term and long-term stays.

Tourist Attractions: 9/10

The downtown area boasts a wide array of tourist attractions, including the Oklahoma City National Memorial & Museum, the Myriad Botanical Gardens, and the Oklahoma City Museum of Art. Visitors can also enjoy live performances at the Civic Center Music Hall or catch a game at the Chesapeake Energy Arena, home to the Oklahoma City Thunder NBA team.

Things to Do: 9/10

From exploring the trendy Bricktown Entertainment District to taking a leisurely stroll along the Oklahoma River, downtown Oklahoma City offers endless opportunities for entertainment and recreation. The area hosts numerous festivals and events throughout the year, drawing visitors from around the region.

Average Home Prices: 7/10

As of 2024, the median home price in downtown Oklahoma City is $325,000, according to Zillow data. This represents a 4.5% appreciation rate over the past year, indicating a stable and growing real estate market. While prices are higher than some other areas of the city, the strong rental demand and potential for high occupancy rates make downtown an attractive investment opportunity.

Proximity to Work-Related Travel: 8/10

Downtown Oklahoma City is home to numerous corporate offices, government buildings, and the Oklahoma City Convention Center, making it a prime location for business travelers. The area is also within close proximity to major hospitals, such as OU Medical Center and St. Anthony Hospital, which can generate a steady flow of short-term rental demand.

X-Factor: 8/10

Its unique blend of historic charm and modern amenities sets downtown Oklahoma City apart. The area has undergone a remarkable transformation in recent years, with the restoration of historic buildings and the development of new residential and commercial spaces. This revitalization has created a vibrant and dynamic atmosphere that appeals to both locals and visitors alike.

2. Top Place to Invest in Oklahoma City, Oklahoma - Midtown

Midtown, a vibrant neighborhood just north of downtown Oklahoma City, embodies the city's urban renaissance. With a mix of historic charm and modern amenities, Midtown offers a unique blend of shopping, dining, and entertainment options that appeal to both residents and visitors alike, making it an attractive location for starting a new Airbnb business.

Midtown Airbnb Market Data

• Average Revenue – $14.7K per year
• Average Daily Rate – $111.3 per night
• Average Occupancy Rate – 43%
• Average RevPAR – $49.5

Convenience: 8/10

Midtown's central location provides easy access to major highways and public transportation, ensuring a seamless experience for guests. The area's walkability is a significant draw, with numerous restaurants, shops, and services within a short distance. Additionally, grocery stores like Homeland and Super Cao Nguyen add to the convenience factor.

Tourist Attractions: 7/10

While Midtown may not boast as many tourist attractions as some other districts, it still offers a variety of engaging experiences. Factory Obscura, an immersive art installation, is a notable highlight. The neighborhood's proximity to downtown attractions like the Oklahoma City National Memorial & Museum and the Myriad Botanical Gardens is also a plus.

Things to Do: 8/10

Midtown is a hub of activity, with diverse restaurants, bars, and shops to explore. From bowling at Dust Bowl to enjoying outdoor patios at popular eateries like Barrios Mexican Kitchen and The Hall's Pizza Kitchen, there's no shortage of entertainment options. The district also hosts events like the Midtown Walkabout and Make Ready Market, showcasing local artisans and makers.

Average Home Prices: 7/10

As of 2024, the median home price in Midtown is $213,700, according to Zillow data. This represents a modest appreciation rate compared to the city-wide average of 3.9% over the past year. While prices are slightly higher than in some other areas of Oklahoma City, the strong rental demand and potential for high occupancy rates make Midtown an attractive investment opportunity for Airbnb and short-term rental investors.

Proximity to Work-Related Travel: 8/10

Midtown's location is ideal for business travelers, with St. Anthony Hospital, the city's oldest and largest, situated within the neighborhood. The district's proximity to downtown Oklahoma City also provides easy access to the Convention Center and other major corporate offices.

X-Factor: 9/10

What sets Midtown apart is its unique blend of historic charm and urban energy. The neighborhood's ongoing revitalization has transformed once-neglected areas into thriving community spaces, with a focus on supporting local businesses and fostering a sense of community. This authentic, local vibe is a significant draw for travelers seeking an immersive experience in the heart of Oklahoma City.

3. Top Place to Invest in Oklahoma City, Oklahoma - Automobile Alley

Once a thriving hub for the city's car dealerships, Automobile Alley has transformed into a trendy district filled with unique shops, restaurants, and art galleries. This historic area, located just north of downtown Oklahoma City, offers a perfect blend of urban living and vintage charm.

Automobile Alley Airbnb Market Data

• Average Revenue – $17K per year
• Average Daily Rate – $ 111.5 per night
• Average Occupancy Rate – 51%
• Average RevPAR – $56.9

Convenience: 8/10

Automobile Alley's central location provides easy access to major highways, public transportation, and the Oklahoma City streetcar system. The district's walkability is a significant draw, with numerous amenities within a short distance, including grocery stores, pharmacies, and fitness centers. This convenience factor is highly appealing to both short-term and long-term guests.

Tourist Attractions: 7/10

While Automobile Alley may not have as many tourist attractions as some other areas of the city, it still offers a unique experience for visitors. The district's historic architecture, featuring restored brick buildings and vintage neon signs, creates a charming atmosphere. Guests can also explore the nearby Oklahoma City National Memorial & Museum and the Oklahoma City Museum of Art.

Things to Do: 9/10

Automobile Alley boasts diverse shopping, dining, and entertainment options. Visitors can browse unique boutiques, enjoy craft cocktails at trendy bars, or savor delicious meals at popular restaurants like Broadway 10 Bar & Chophouse and Hideaway Pizza. The district also hosts regular events, such as the monthly Shop Hop, which showcases local businesses and artisans.

Average Home Prices: 6/10

As of 2024, the median home price in Automobile Alley is $385,000, according to Zillow data. This represents a 5.2% appreciation rate over the past year, slightly higher than the city-wide average. While prices are higher compared to some other areas of Oklahoma City, the strong rental demand and potential for high occupancy rates make Automobile Alley a viable investment opportunity for those aspiring to start a short-term rental business.

Proximity to Work-Related Travel: 8/10

Automobile Alley's proximity to downtown Oklahoma City makes it an ideal location for business travelers. The district is within easy reach of major corporate offices, the Oklahoma City Convention Center, and the OU Medical Center. This proximity to work-related destinations can generate steady short-term rental demand.

X-Factor: 9/10

Its unique blend of history and modern urban living sets Automobile Alley apart. The district's beautifully restored buildings, vibrant arts scene, and thriving local businesses create a unique atmosphere that appeals to both locals and visitors. This authentic, creative vibe is a significant draw for travelers seeking a memorable experience in the heart of Oklahoma City.

4. Top Place to Invest in Oklahoma City, Oklahoma - Paseo Arts District

Nestled in the heart of Oklahoma City, the Paseo Arts District is a vibrant, bohemian neighborhood that has become a haven for artists, musicians, and creative souls. This historic area, with its Spanish Revival architecture and colorful murals, offers a unique and eclectic atmosphere that attracts both locals and visitors, making it an intriguing option for Airbnb and short-term rental investors.

Paseo Arts District Airbnb Market Data

• Average Revenue – $23.7K per year
• Average Daily Rate – $143.6 per night
• Average Occupancy Rate – 55%
• Average RevPAR – $80.3

Convenience: 7/10

The Paseo Arts District's location, just a few miles north of downtown Oklahoma City, provides relatively easy access to major highways and public transportation. While the area is walkable within its boundaries, guests may need to rely on vehicles or ride-sharing services to explore other parts of the city. The district offers various local amenities, including restaurants, cafes, and boutiques.

Tourist Attractions: 8/10

The Paseo Arts District itself is a tourist attraction known for its monthly First Friday Gallery Walk, which showcases the work of local artists and attracts thousands of visitors. The district is home to over 20 galleries, studios, and shops and the Oklahoma Shakespeare in the Park theater. Guests can also explore nearby attractions like the Oklahoma City Zoo and the National Cowboy & Western Heritage Museum.

Things to Do: 9/10

The Paseo Arts District offers a wealth of cultural experiences and activities. Visitors can attend art workshops, listen to live music at local venues or enjoy a meal at one of the many unique restaurants in the area. The district also hosts annual events, such as the Paseo Arts Festival and the Magic Lantern Celebration, which feature live performances, food vendors, and interactive art displays.

Average Home Prices: 7/10

As of 2024, the median home price in the Paseo Arts District is $325,000, according to Zillow data. This represents a 4.8% appreciation rate over the past year, slightly higher than the city-wide average. While prices are higher compared to some other areas of Oklahoma City, the district's unique charm and strong rental demand make it an attractive investment opportunity for Airbnb and short-term rental investors.

Proximity to Work-Related Travel: 6/10

The Paseo Arts District is located a bit further from major work-related destinations than other central neighborhoods. However, it is still within a reasonable distance of downtown Oklahoma City, the Oklahoma City Convention Center, and the OU Medical Center. While the district may not be the most convenient location for business travelers, its unique atmosphere and cultural offerings can still attract diverse guests.

X-Factor: 10/10

Its vibrant, creative energy and bohemian charm truly sets the Paseo Arts District apart. The district's colorful murals, Spanish Revival architecture, and thriving arts scene create an unmatched one-of-a-kind atmosphere in Oklahoma City. This authentic, artistic vibe is a significant draw for travelers seeking a unique and immersive experience in a neighborhood that celebrates creativity and self-expression.

5. Top Place to Invest in Oklahoma City, Oklahoma - Suburban Northside

The suburban northside of Oklahoma City, encompassing neighborhoods like Edmond, Nichols Hills, and The Village, offers a tranquil and family-friendly atmosphere with easy access to the city's amenities. This area, known for its excellent schools, safe communities, and beautiful parks, has become increasingly attractive to Airbnb and short-term rental investors seeking to cater to a diverse range of guests.

Suburban Northside Airbnb Market Data

• Average Revenue – $23.3K per year
• Average Daily Rate – $136.2 per night
• Average Occupancy Rate – 58%
• Average RevPAR – $79

Convenience: 8/10

The suburban northside provides a convenient living experience, with well-maintained roads, ample parking, and easy access to major highways like I-35 and I-44. While the area may not be as walkable as some central neighborhoods, it offers a variety of local amenities, including grocery stores, restaurants, and shopping centers. Guests can easily navigate the area by car or take advantage of ride-sharing services.

Tourist Attractions: 6/10

While the suburban northside may not be a primary tourist destination, it does offer some notable attractions. The Arcadia Lake Recreation Area, located in Edmond, provides fishing, boating, and hiking opportunities. Guests can also visit the historic Harn Homestead Museum or explore downtown Edmond's charming boutiques and cafes. However, most major tourist attractions are located closer to the city center.

Things to Do: 7/10

The suburban northside offers a range of activities for families and outdoor enthusiasts. Visitors can enjoy the numerous parks and green spaces, such as Mitch Park in Edmond or Nichols Hills Park. The area also boasts several golf courses, including the Oak Tree Country Club and the Coffee Creek Golf Club. Guests can explore local farmers markets, attend community events, or take a short drive to nearby attractions like the Oklahoma City Zoo.

Average Home Prices: 8/10

As of 2024, the median home price in the suburban northside is $285,000, according to Zillow data. This represents a 3.6% appreciation rate over the past year, slightly lower than the city-wide average. The area offers diverse housing options, from cozy single-family homes to luxurious estates. The relatively stable prices and strong rental demand make the suburban northside an attractive investment opportunity for Airbnb and short-term rental investors.

Proximity to Work-Related Travel: 7/10

The suburban northside is farther from major work-related destinations than central neighborhoods. However, it is still within a reasonable commuting distance of downtown Oklahoma City, the Oklahoma City Convention Center, and the OU Medical Center. The area's proximity to major highways also makes it accessible for business travelers.

X-Factor: 8/10

What sets the suburban northside apart is its family-friendly atmosphere and high quality of life. The area's excellent schools, safe neighborhoods, and abundant green spaces make it an attractive option for families and travelers seeking a peaceful, suburban experience. The suburban northside also offers a sense of community, with regular events and activities that unite residents. This welcoming, family-oriented vibe is a significant draw for guests looking for a comfortable and relaxing stay in Oklahoma City.

6. Top Place to Invest in Oklahoma City, Oklahoma - Nichols Hills

Nestled in the heart of Oklahoma City, Nichols Hills is an affluent suburban enclave known for its tree-lined streets, stately homes, and upscale amenities. This charming neighborhood has become increasingly attractive to Airbnb and short-term rental investors seeking to cater to a discerning clientele in a prime location.

Nichols Hills Airbnb Market Data

• Average Revenue – $24.9K per year
• Average Daily Rate – $149 per night
• Average Occupancy Rate – 58%
• Average RevPAR – $86.4

Convenience: 8/10

Nichols Hills offers a high level of convenience, with easy access to major highways and a variety of local amenities. While the area is primarily residential, it is just a short drive from downtown Oklahoma City and other popular destinations. Residents and visitors alike can enjoy a selection of shops, restaurants, and services at nearby Classen Curve and Nichols Hills Plaza.

Tourist Attractions: 6/10

Although Nichols Hills itself is not a major tourist destination, its proximity to Oklahoma City's attractions makes it an appealing base for visitors. Nearby points of interest include the Oklahoma City Zoo, the Oklahoma City National Memorial & Museum, and the Myriad Botanical Gardens. While the neighborhood may not have a wealth of tourist attractions within its borders, its central location and upscale atmosphere make it an attractive option for discerning travelers.

Things to Do: 7/10

Nichols Hills offers a range of activities for residents and visitors, from golfing at the prestigious Oklahoma City Golf & Country Club to boutique fitness classes at Pure Barre. The neighborhood's tree-lined streets and well-manicured parks provide a pleasant setting for walks and outdoor recreation. Additionally, the nearby Classen Curve and Nichols Hills Plaza offer a variety of shopping, dining, and entertainment options.

Average Home Prices: 7/10

As of February 2024, the median home sold price in Nichols Hills was $480,000, representing a significant 64.4% decrease compared to the previous year, according to Redfin data. However, Zillow reports a more modest 3.1% year-over-year appreciation, with a typical home value of $870,983 as of December 2023. While prices in Nichols Hills are higher than the Oklahoma City average, the neighborhood's prestige and central location make it an attractive investment opportunity for those targeting a high-end rental market.

Proximity to Work-Related Travel: 8/10

Nichols Hills is conveniently located near major employment centers, hospitals, and event venues. The neighborhood is just a short drive from downtown Oklahoma City, home to numerous corporate offices and the Oklahoma City Convention Center. Additionally, the nearby OU Health - University of Oklahoma Medical Center and Mercy Hospital Oklahoma City provide a steady flow of potential short-term rental guests.

X-Factor: 9/10

What sets Nichols Hills apart is its reputation as one of Oklahoma City's most prestigious and desirable neighborhoods. The area's beautiful homes, tree-lined streets, and upscale amenities create an atmosphere of exclusivity and refinement that appeals to a discerning clientele. This unique combination of location, charm, and prestige makes Nichols Hills an attractive investment opportunity for those looking to cater to a high-end rental market in the heart of Oklahoma City.