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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 Q4 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2021 (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 411,401 people, 167,948 houses or apartments, and a median cost of homes of $188,851, 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 62.71% of the city's housing units. Other types of housing that are prevalent in Tulsa include large apartment complexes or high rise apartments ( 26.05%), duplexes, homes converted to apartments or other small apartment buildings ( 6.55%), and a few row houses and other attached homes ( 3.19%).

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 51.61% owning and 48.39% 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 ( 37.23%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.86%). There's also some housing in Tulsa built before 1939 ( 8.75%).

Vacant housing appears to be an issue in Tulsa. Fully 12.41% 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 5.53% during the period.

Appreciation rates are so strong in Tulsa that despite a nationwide downturn in the housing market, Tulsa real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tulsa appreciation rates continue to be some of the highest in America, at 14.10%, which is higher than appreciation rates in 80.26% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tulsa. Tulsa appreciation rates in the latest quarter were at 1.49%, which equates to an annual appreciation rate of 6.08%.

Relative to Oklahoma, our data show that Tulsa's latest annual appreciation rate is higher than 90% 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:
$188,851

Tulsa, OK HOME PRICES

> $1,379,000
$1,034,001 - $1,379,000
$689,001 - $1,034,000
$552,001 - $689,000
$414,001 - $552,000
$276,001 - $414,000
$138,001 - $276,000
$69,001 - $138,000
$0 - $69,000
1.1%
1.1%
1.2%
1.2%
2.9%
2.9%
3.3%
3.3%
6.5%
6.5%
14.0%
14.0%
38.9%
38.9%
23.5%
23.5%
8.6%
8.6%
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:
167,948

Tulsa Appreciation Rates

 
Time Period Total Appreciation Average Annual Rate Compared To
OK
Compared To
America
Latest Quarter:
2022 Q3 - 2022 Q4
Last 12 Months:
2021 Q4 - 2022 Q4
Last 2 Years:
2020 Q4 - 2022 Q4
Last 5 Years:
2017 Q4 - 2022 Q4
Last 10 Years:
2012 Q4 - 2022 Q4
Since 2000:
2000 Q1 - 2022 Q4
106.01% 3.19%
3
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,453 / per month

Homeownership Rate

Owners
Renters
Vacant
51.6%
51.6%
48.4%
48.4%
12.4%
12.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
10.9%
10.9%
43.2%
43.2%
37.2%
37.2%
8.7%
8.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.7%
62.7%
3.2%
3.2%
6.6%
6.6%
26.1%
26.1%
1.4%
1.4%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.6%
2.6%
16.9%
16.9%
25.8%
25.8%
39.3%
39.3%
12.8%
12.8%
2.7%
2.7%
0.0% 100.0%
% OF HOMES