Incredibly, we are already through roughly 20 percent of the regular season. It's now past the point where most stats like win percentage, offensive rating, and defensive rating begin to stabilize. There will be a lot of movement from when we did this exercise two weeks ago, but these power rankings are beginning to resemble what we will see at the end of the year.
That means that some of the early surprises have begun to fall back down to Earth, while the Thunder and Nuggets have emerged as the two obvious teams to beat. There has also been a bottom-feeder class in the league like we haven't seen in recent history. Seven teams already essentially have their seasons over, with less than a one percent chance of making the playoffs.
Here's how each team is looking with 16ish games in the books.
MORE: NBA Rookie Rankings
NBA Power Rankings
1. Oklahoma City Thunder 15-1 (previous ranking: 1)
Last season, the Thunder set an NBA record with a +12.7 net rating. This year, they're set to smash that again with a +15.3 net rating.
They haven't even come close to hitting their final form yet either. Jalen Williams still hasn't played a game, but Chet Holmgren has looked like he might take that second-best player mantle. This defense is outrageous once again. Holmgren is the betting favorite to win his first Defensive Player of the Year award, and several of his teammates will join him on All-Defensive teams.
2. Denver Nuggets 11-3 (previous ranking: 2)
Nikola Jokic has turned in some truly remarkable offensive seasons. This one might be his best yet. He's leading the league with 13.2 rebounds and 11.1 assists. His 29.1 points per game aren't too shabby either.
What's more remarkable about the Nuggets is how they've built a great defense around Jokic. Their overall defensive rating may fall, but for now they're ranked 3rd behind heavy zone usage and impeccable team help rotations.
3. Houston Rockets 10-3 (previous ranking: 4)
The Rockets are one of the weirdest teams in the league. They rarely take 3's and they don't play particularly fast, which is the opposite of what most coaches are trying to do around the league. But their offensive rebounding is so elite that they have built one of the top offenses in league history so far this season. That formula will carry through the regular season at least and will be fascinating to watch in the playoffs.
4. Detroit Pistons 13-2 (previous ranking: 12)
The Pistons have been the hottest team in the league. Their defense is legit, and they take away the paint with their two big men Isaiah Stewart and Jalen Duren. The Cade Cunningham and Duren pick-and-roll is becoming one of the toughest plays in the league to stop. This team is also deep though, getting starter-level contributions from two-way player Daniss Jenkins and solid bench play from castoffs of other teams.
5. New York Knicks 9-5 (previous ranking: 6)
On paper, the Knicks are a better team than last season. They're faster, their shot profile has improved, and they're more balanced. There are still some concerns. OG Anunoby, who always misses some games, is currently out with a hamstring injury. The defense still isn't good. And the Knicks have been an awful road team, going just 1-4 so far.
6. Los Angeles Lakers 11-4 (previous ranking: 4)
Welcome back, LeBron James! The King made his debut this week, and the passing skills are still there. The Lakers have been banking wins without their main guys on the floor. Now, with Luka Doncic, LeBron, and Austin Reaves, these guys should start to really hum.
7. Cleveland Cavaliers 10-6 (previous ranking: 5)
The Cavs finally incorporated Darius Garland back into the lineup, but he's already re-injured that same troublesome toe. They don't need him or Max Strus yet to stay near the top of the East. They should hit another gear once those guys come back. For now, they're in cruise control.
8. Minnesota Timberwolves 10-5 (previous ranking: 10)
The Wolves are managing to take care of business, beating the bad teams in the league. Jaden McDaniels is continuing his hot close to last season with a brilliant offensive campaign. Julius Randle is chugging along, scoring efficiently and also leading the team in assists.
9 . San Antonio Spurs 11-4 (previous ranking: 9)
The Spurs can't catch any luck with injuries. Victor Wembanyama will be out for two to three weeks with a calf injury, and Stephon Castle is also out for at least one to two weeks with a hip flexor injury. They will join Dylan Harper on the sidelines. At least De'Aaron Fox is back, although he has been inconsistent since his return to action.
10. Toronto Raptors 10-5 (previous ranking: 19)
The Raptors are the team that nobody saw coming this year. Their offense is way better than expected. Scottie Barnes is doing a little bit of everything. Brandon Ingram has been even more automatic on mid-rangers than in previous years, proving the critics of that trade wrong. Unheralded role players Sandro Mamukelashvili and Jamal Shead are leading a nice bench unit.
10. Golden State Warriors 9-8 (previous ranking: 7)
Steph Curry can still look like the best player in the league on any given night. He proved that by scoring 95 points over two games against an elite Wemby-led Spurs defense earlier in the month.
The Warriors have seen some slippage though, getting blown out by the Thunder, losing to a surging Magic team, and not having the energy to compete in a back-to-back against the Heat. When all their gears are clicking though, they're one of the best teams in the league.
12. Atlanta Hawks 9-7 (previous ranking: 14)
The whispers are starting to grow louder: Are the Hawks better without Trae Young? Their defense certainly is. They have some great rangy guards and wings that let them wreak havoc and play aggressively. Dyson Daniels needs to shoot more, but he's been a good facilitator. Nickeil Alexander-Walker is finding his own on offense. Onyeka Okongwu is shooting 3's. Mo Bamba is turning into an NBA Twitter darling. And they are winning games behind their new do-everything star Jalen Johnson.
13. Milwaukee Bucks 8-8 (previous ranking: 8)
The Bucks have had some nice stories. AJ Green and Ryan Rollins have been solid two-way guards that have given Giannis Antetokounmpo more help than expected. It all falls apart though without the Greek Freak, who is out for one to two weeks with a groin strain. Expect Milwaukee to struggle during that stretch.
14. Philadelphia 76ers 9-6 (previous ranking: 13)
VJ Edgecombe has cooled off from his hot shooting start, but the Sixers are still getting All-NBA performances from Tyrese Maxey, who is leading the league in minutes. Paul George finally made his season debut but didn't do much. Embiid's availability continues to be a mystery on a game-to-game basis. The stellar guard play is covering up for weaknesses in the team's frontcourt.
15. Miami Heat 9-6 (previous ranking: 17)
The Heat's offense is beginning to come back down to Earth. Norman Powell has been a godsend though, and Tyler Herro is set to return soon. Andrew Wiggins is quietly having one of the best seasons of his career, as is Davion Mitchell.
16. Orlando Magic 8-7 (previous ranking: 18)
The Magic still aren't really clicking, but they have put together some quality wins over the Knicks and Warriors as of late. Desmond Bane is starting to play a little bit better. It will be interesting to see how they play with Paolo Banchero out of the lineup due to a left groin strain.
17. Chicago Bulls 8-6 (previous ranking: 11)
The Bulls remain one of the most confusing teams in the league. After starting 5-0, they lost six of their next seven. They snapped that losing streak by beating the Nuggets in Denver after playing a double-overtime game in Utah the night before, then beating the Blazers on yet another buzzer-beater. Their defense has plummeted back to Earth after opponents stopped missing every 3 against them, but they can put up points with their fast-paced offense.
18. Boston Celtics 8-7 (previous ranking: 20)
The Celtics have been way better than they have any business being. They've outscored opponents by a solid margin, ranking in the top 10 in net rating. Derrick White and Payton Pritchard are finally starting to knock down their 3's. This has been a carry job by Jaylen Brown though, who is creating more offense than ever.
19. Phoenix Suns 9-6 (previous ranking: 23)
Most people didn't have the Suns being this good. They've proven the haters wrong. They're a fun team with cult heroes like Collin Gillespie and Ryan Dunn to go along with superstar Devin Booker. New coach Jordan Ott should get some Coach of the Year buzz.
20. Portland Trail Blazers 6-9 (previous ranking: 16)
The Blazers have cooled from their red-hot start. They still don't have enough shot creation and need Scoot Henderson back. Deni Avdija has looked like an All-Star but hasn't gotten enough help. Toumani Camara's offensive regression has been disappointing to watch.
21. Los Angeles Clippers 4-10 (previous ranking: 15)
The Clippers are wasting another tremendous season from James Harden. They're a slow, old team that doesn't get back in transition. Chris Paul looks sadly finished. Their other newcomer vets haven't been much better.
22. Utah Jazz 5-9 (previous ranking: 27)
Ace Bailey is starting to show signs of life. Keyonte George is breaking out. And Lauri Markkanen's trade value has never been higher. This is going to be a brutal two week stretch, including playing against the Thunder twice, Rockets twice, Lakers twice, Warriors, and Knicks.
23. Memphis Grizzlies 5-11 (previous ranking: 22)
Tuomas Iisalo is hurling water bottles on the ground and having his hands full managing Ja Morant as he tries to get the Grizzlies to buy into his new system featuring shorter rotation patterns. He's had to work with different lineups night to night as Memphis continues to be hit hard with injuries.
24. Charlotte Hornets 4-11 (previous ranking: 24)
Kon Knueppel has been a delight to watch, taking over as a the leader in the Rookie of the Year race. Ryan Kalkbrenner and Sion James have been top 10 rookies as well. The Hornets look like they finally nailed a draft.
25. Dallas Mavericks 4-12 (previous ranking: 21)
This Mavericks offense is tough to watch. Cooper Flagg has started to play better, but he needs much more help from the weak guard rotation on this roster. Is D'Angelo Russell going to guard anyone this year? Anthony Davis will be out for at least another week with his calf injury.
26. Sacramento Kings 3-13 (previous ranking: 25)
The clock is ticking until the Kings break this thing up. None of their pieces fit together. Domantas Sabonis' passing skills aren't being utilized, and now he is hurt. This team can't guard anyone, and it is clear that Doug Christie isn't getting through to his bizarre roster.
27. Indiana Pacers 2-13 (previous ranking: 26)
In comes Bennedict Mathurin and Andrew Nembhard, out goes Aaron Nesmith. The Pacers look miserable during a completely lost season due to injuries.
28. New Orleans Pelicans 2-13 (previous ranking: 28)
Interim coach James Borrego is giving Derik Queen a chance, and that is making the Pelicans a more fun watch. Queen needs polish, but the passing vision and personality are certainly there. Jeremiah Fears' creativity driving the ball and Queen's offense are intriguing for an otherwise bad team.
29. Washington Wizards 1-13 (previous ranking: 29)
Alex Sarr is finally figuring it out, greatly improving his scoring efficiency to add to his defensive instincts. Kyshawn George has emerged as a clear future building block. It's been a disappointing sophomore year for Bub Carrington, who hasn't been able to hit shots.
30. Brooklyn Nets 2-12 (previous ranking: 30)
At least Michael Porter Jr. Is playing well offensively. And he is passing surprisingly well too. He could be a good trade chip at the deadline, despite his $38.3 million owed this season. The Nets have been more watchable with Cam Thomas out as he recovers from a hamstring strain.