Tulsa, OK Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Tulsa, OK Housing Market Trends

With a population of 401,190, 164,000 total housing units (homes and apartments), and a median house value of $141,188, house prices in Tulsa are solidly below the national average.

Single-family detached homes are the single most common housing type in Tulsa, accounting for 61.97% of the city's housing units. Other types of housing that are prevalent in Tulsa include large apartment complexes or high rise apartments ( 26.41%), duplexes, homes converted to apartments or other small apartment buildings ( 6.70%), and a few row houses and other attached homes ( 3.40%).

The most prevalent building size and type in Tulsa are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.87% owning and 50.13% renting.

There is a lot of housing in Tulsa built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tulsa built between 1940-1969 ( 37.57%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.64%). There's also some housing in Tulsa built before 1939 ( 8.99%).

Vacant housing appears to be an issue in Tulsa. Fully 12.61% of the housing stock is classified as vacant. Left unchecked, vacant Tulsa homes and apartments can be a drag on the real estate market, holding Tulsa real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Tulsa Home Appreciation Rates

Real estate appreciation rates in Tulsa's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.82% during the period.

NeighborhoodScout's data show that during the latest twelve months, Tulsa's appreciation rate, at 6.19%, has been at or slightly above the national average. In the latest quarter, Tulsa's appreciation rate has been 1.55%, which annualizes to a rate of 6.34%.

Relative to Oklahoma, our data show that Tulsa's latest annual appreciation rate is lower than 50% of the other cities and towns in Oklahoma.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Tulsa differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tulsa - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Tulsa real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$141,188

Tulsa, OK HOME PRICES

> $1,155,000
0.9%
0.9%
$866,001 - $1,155,000
0.9%
0.9%
$578,001 - $866,000
2.5%
2.5%
$462,001 - $578,000
2.5%
2.5%
$347,001 - $462,000
5.1%
5.1%
$231,001 - $347,000
11.5%
11.5%
$116,001 - $231,000
38.9%
38.9%
$58,001 - $116,000
26.4%
26.4%
$0 - $58,000
11.4%
11.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Low for Nation

High for OK

Value Relative To Nation

Number Of Homes And Apartments:
164,000

Tulsa Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
57.33% 2.16%
2
3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,055 / per month

Homeownership Rate

Owners
49.9%
49.9%
Renters
50.1%
50.1%
Vacant
12.6%
12.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
9.6%
9.6%
1970 - 1999
43.8%
43.8%
1940 - 1969
37.6%
37.6%
1939 or Older
9.0%
9.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
62.0%
62.0%
Townhomes
3.4%
3.4%
Small Apt. Buildings
6.7%
6.7%
Apt. Complexes
26.4%
26.4%
Mobile Homes
1.4%
1.4%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.6%
2.6%
1 Bedroom
17.1%
17.1%
2 Bedrooms
26.3%
26.3%
3 Bedrooms
39.7%
39.7%
4 Bedrooms
11.8%
11.8%
5 or more bedrooms
2.5%
2.5%
0.0% 100.0%
% OF HOMES