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Tulsa, OK housing market
Housing market indicators
| Indicator | 2022 | 2023 | 2024 | 2025* | Change | 2022 | 2023 | 2024 | YTD |
|---|---|---|---|---|---|---|---|---|---|
| Median Listing Price per Square Feet | $157 | $162 | $160 | $164 | 19.8% | 3.2% | -1.2% | 2.5% | |
| Active Listing Count | 1,994 | 2,347 | 2,945 | 3,415 | 78.2% | 17.7% | 25.5% | 16% | |
| Median Days on Market | 59 | 58 | 68 | 58 | 15.7% | -1.7% | 17.2% | -14.7% | |
| Share of listings with price increase | 1.2% | 0.9% | 0.7% | 0.9% | |||||
| Share of listings with price decrease | 11.3% | 15.4% | 19.3% | 19.7% | |||||
* last available value
Home prices
Short term housing supply drivers
Long term housing demand drivers
Long term housing supply drivers
Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED
Housing market overview
Tulsa, OK MSA Overview and Key Areas
- The Tulsa Metropolitan Statistical Area (MSA) encompasses Tulsa, Rogers, Wagoner, Muskogee, Washington, Osage, Creek, Okmulgee, and Pawnee counties in northeastern Oklahoma, with a 2024 population of 1,059,803.
- Centered around Tulsa city (population 415,154 in 2025), it includes urban core in Tulsa County and growing suburbs in surrounding areas.
- Key geographic regions: Urban core (Tulsa city), North suburbs (Owasso, Collinsville in Rogers County), South suburbs (Broken Arrow, Bixby, Jenks in Tulsa/Wagoner Counties), West side (Sand Springs in Tulsa County), and outer areas (Bartlesville in Washington County, Muskogee in Muskogee County).
- Population growth steady at 1-4% annually, driven by suburban expansion.
| Area | City/town | Population | Density | Income | Quality of Schools | Crime level | Property tax (%) | Comments |
|---|---|---|---|---|---|---|---|---|
| Urban Core | Tulsa | 415,154 | High (urban) | Median | Mixed (5-8/10 GreatSchools) | High | 0.88-1.1% | County seat, diverse economy, higher poverty 18.6% |
| South Suburbs | Broken Arrow | 122,756 | Medium | High | Good (7-9/10) | Low | 0.85-1.0% | Fast-growing family area |
| North Suburbs | Owasso | 42,831 | Medium | High | Excellent (8-10/10) | Low | 0.9% | Affluent, low density growth |
| South Suburbs | Bixby | 31,728 | Low-Medium | High | Excellent (8-10/10) | Very Low | 0.85% | Rural-suburban transition |
| South Suburbs | Jenks | 28,537 | Medium | High | Excellent (9-10/10) | Low | 0.9% | Riverfront development |
| West Side | Sand Springs | 20,190 | Medium | Medium | Good (6-8/10) | Medium | 1.0% | Industrial base |
| Outer North | Bartlesville | 38,355 | Low | Medium-High | Good (7-9/10) | Low | 0.95% | Energy hub, part of CSA |
| Outer East | Muskogee | 36,849 | Medium | Low | Mixed (4-7/10) | High | 1.05% | Port and manufacturing |
To view all table columns, please open this table on a laptop or desktop screen.
Citizens: Income and Education
- MSA median household income around $60,000-$65,000, with Tulsa city at $58,407 and suburbs higher at $80,000+.
- Per capita income in Tulsa $42,803; suburbs like Owasso/Broken Arrow exceed $50,000.
- Poverty rate 15-18% MSA-wide, higher in urban core (18.64%).
- Bachelor's degree or higher: 30-35% MSA average; Tulsa city 32%, suburbs 40%+ in areas like Jenks/Owasso.
- Median age 36.5 years; working-age (18-64) 59% of population.
- Racial diversity: 57% White, 15% Black, 15% multiracial, 6% Hispanic, 4% Native American.
Key Economic Sectors
- Aerospace and defense: Major employers like American Airlines maintenance, Tinker AFB influence.
- Energy: Oil/gas exploration, Phillips 66 in Bartlesville.
- Manufacturing: Auto parts, machinery in Muskogee/Sand Springs.
- Healthcare: Saint Francis, Hillcrest systems employ 50,000+.
- Finance/Tech: Growing fintech, Williams Companies HQ.
- Retail/Logistics: Amazon, Walmart distribution centers.
- Tourism: Hard Rock Casino, Route 66 attractions.
Housing Buying Market: Supply Drivers
- Zoning openness: Moderate; suburbs like Broken Arrow/Bixby allow single-family growth, urban Tulsa restrictive on density.
- Regulatory strictness: Low-moderate; streamlined permitting in Wagoner/Rogers Counties vs. stricter Tulsa city codes.
- Construction workforce cost: Low; labor abundant from local trade schools, wages 20% below national average.
- New construction pace: 5,000-7,000 units/year, focused south/north suburbs; land availability high in Creek/Osage Counties.
- Material costs stable due to regional supply chains.
- Inventory: 3-4 months supply, tighter in suburbs.
Housing Buying Market: Demand Drivers
- Net migration in: +10,000/year, from CA/TX/CA rust belt; suburbs gain families.
- Growing industries: Aerospace (Boeing expansions), healthcare (new hospitals), logistics (e-commerce boom).
- Declining: Traditional oil/gas volatile but stable; manufacturing steady.
- Remote work influx post-2020 boosted demand in low-tax suburbs.
- Median home price $250,000-$280,000 MSA; suburbs $350,000+.
- Sales volume up 5-8% yearly in Broken Arrow/Owasso.
Key Challenges on the Housing Market
- Affordability gap: Urban core prices rose 40% since 2020, outpacing wages.
- Inventory shortage: Suburban land constrained by floodplains in Arkansas River valley.
- Crime in core: Deters buyers, insurance premiums high.
- Infrastructure lag: Schools overcrowded in fast-growth Bixby/Jenks.
- Weather risks: Tornadoes increase insurance 15-20% over national.
- Labor shortages for skilled trades despite low costs.
- Interest rates impact: 2024-2025 hikes slowed flips.
Investment Potential Differences Between Geographic Areas/Regions
| Area | Appreciation Potential | Risk | Key Drivers |
|---|---|---|---|
| South Suburbs (Broken Arrow, Bixby, Jenks) | High | Low | Population boom, excellent schools, highway access, new builds |
| North Suburbs (Owasso) | High | Low | Affluent in-migration, low crime, industrial parks |
| Urban Core (Tulsa) | Medium | Medium-High | Revitalization projects, but crime/poverty drag |
| West Side (Sand Springs) | Medium | Medium | Value buys, industrial growth offset by older stock |
| Outer Areas (Bartlesville, Muskogee) | Low | High | Economic stagnation, higher crime in Muskogee, distance from core |
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