Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Tulsa Real Estate Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 8 years ago on . Most recent reply

User Stats

186
Posts
208
Votes
Nate Garrett
  • Property Manager
  • Tulsa, OK
208
Votes |
186
Posts

Tulsa Rental Market Update - Fall 2016

Nate Garrett
  • Property Manager
  • Tulsa, OK
Posted

Tulsa rental market continues to significantly outpace inflation

As 2016 comes to a close, we took a look at the performance of the Tulsa rental market (and suburbs) over the last few years and discuss some factors influencing the market moving forward. Using raw data provided by , we created a series of charts to assist Tulsa-area single family property owners in understanding current rental trends in the Tulsa metro area.

Impact of the 2007 housing crisis on the Tulsa rental market

The Tulsa rental market was not as severely affected by the 2007-2008 housing crisis as other markets, but after the crisis, rents were somewhat stagnant until 2012, when a period of strong rent appreciation began. Since then, rents have continued to grow strongly year over year in the Tulsa metro.

Strong rental growth in the suburbs

The above chart shows a strong overall upward trend in rents beginning in 2012 and continuing until the present. But it is clear that some of the suburbs have fared better than others over the last 4 years:

This data meshes nicely with our observations of rental growth and leasing activity in the Tulsa metro. Jenks and Bixby both offer excellent school districts and properties in these two suburbs have had great rental price appreciation and tend to lease very quickly.

Tulsa and Owasso have also had excellent rent appreciation over the last 4 years. The Broken Arrow rental market has underperformed a bit, but has still managed to outpace inflation.

Tulsa Rental Market Outpaces Inflation

The good news for real estate investors in the Tulsa area is that rental growth has continued to grow faster than inflation for the last 4 years. The average annual inflation for the last 4 years has been very low:

2012 - 2.1%

2013 - 1.5%

2014 - 1.6%

2015 - 0.1%

2016 - 1.0% (Jan-Aug)

Source:

This is excellent news for Tulsa real estate investors, especially those that have their properties financed with long-term, fixed interest rates. In this case, the monthly principal and interest payment has remained the same, while rents have been steadily increasing.

Looking forward

Local economic conditions play a critical role in the Tulsa rental market. Low oil prices remain a threat to employment levels, which could negatively impact the rental market.

However, as has been noted by several , the housing crisis and other demographic trends have fundamentally altered the housing market nationwide. Homeownership levels are down significantly and forecasts point to increased numbers of renter households for the foreseeable future. As a result, we believe it is likely that there will continue be strong demand for single family rental homes in the Tulsa metro area in the near to mid-term.

Most Popular Reply

User Stats

38
Posts
18
Votes
Jonathan Gobbo
  • Real Estate Broker
  • Tulsa, OK
18
Votes |
38
Posts
Jonathan Gobbo
  • Real Estate Broker
  • Tulsa, OK
Replied

Time to start raising rents on my properties!  Ha Ha Thank you for the info!

Loading replies...