Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Tulsa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,991 | $127,500 | $242,182 |
| Price Trend (Annual %) | 9.9% | 5.5% | 8.2% |
| Median Gross Rent | $1,060 | $979 | $1,342 |
| Rent Trend (Annual %) | 4.3% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Tulsa County is about 70% higher than in Oklahoma. Rent is about 8% higher than the Oklahoma average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Tulsa County, up about 9.9% and 4.3% a year respectively. Home prices are changing faster.
Median rent in Tulsa County rose about 37.0% between 2015 and 2023, from $774 to $1,060. Over the same span, rent in Oklahoma rose about 34.7%.
Affordability
On average, housing unit costs 3.2 yearly household incomes in Tulsa County.
Buying the median-priced home in Tulsa County costs roughly 17.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Tulsa County. The price-to-rent ratio in Oklahoma is about 10.9.
| Metric | Tulsa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Median Home Price | $216,991 | $127,500 | $242,182 |
| Median Household Income | $67,864 | $63,953 | $78,145 |
| Price-to-Income Ratio | 3.2 | 2.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Tulsa County rose about 88.8%, while median household income rose about 50.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Tulsa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 54.3% | 57.6% | 58.2% |
| Rental Rate | 36.6% | 29.9% | 31.3% |
| Vacancy Rate | 9.1% | 12.5% | 10.6% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Tulsa County has a homeownership rate of 54.3%, lower than the Oklahoma average of 57.6%. Its housing vacancy rate is 9.1%, compared with 12.5% in Oklahoma.
Housing Stock
| Metric | Tulsa County | Oklahoma Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.47 people | 2.51 people | 2.54 people |
| Median Structure Built Year | 1979 | 1980 | 1978 |
| Median Number of Rooms | 5.5 | 5.5 | 5.5 |
The typical housing unit in Tulsa County was built around 1979. On average, 2.5 people live in a home with about 5.5 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Tulsa County, Oklahoma.
What is the median home price in Tulsa County, Oklahoma?
The median home price in Tulsa County, Oklahoma is $216,991, higher than the Oklahoma average of $127,500.
What is the average home price in Tulsa County, Oklahoma?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Tulsa County, Oklahoma?
The median gross rent in Tulsa County, Oklahoma is $1,060 per month, higher than the Oklahoma average of $979.
What was the median gross rent in Tulsa County in 2020?
In 2020, the median gross rent in Tulsa County, Oklahoma was $881 per month.
What is the price-to-rent ratio in Tulsa County, Oklahoma?
The price-to-rent ratio in Tulsa County, Oklahoma is about 17.1, meaning it would take roughly 17.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Tulsa County.
Are home prices or rent rising faster in Tulsa County, Oklahoma?
Both home prices and rent are rising in Tulsa County, up about 9.9% and 4.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Tulsa County, Oklahoma?
54.3% of households in Tulsa County, Oklahoma own their home, lower than the Oklahoma average of 57.6%.
What is the vacancy rate in Tulsa County, Oklahoma?
The housing vacancy rate in Tulsa County, Oklahoma is 9.1%, lower than the Oklahoma average of 12.5%.