Tulsa, OK Real Estate & Homes for Sale | realtor.com® (2024)

FAQs

Are home prices dropping in Tulsa? ›

Are Tulsa home prices dropping or rising? Home prices in Tulsa are rising overall. Median home prices are up 8.6% since April 2023 and up 16.6% in the past 3 years.

Tulsa, OK housing market

In May 2024, the median listing home price in Tulsa, OK was $285K, trending up 3.5% year-over-year. The median listing home price per square foot was $152. The median home sold price was $233.5K.

The average annual household income in Tulsa is $79,727, while the median household income sits at $52,438 per year. Residents aged 25 to 44 earn $53,611, while those between 45 and 64 years old have a median wage of $60,279.

White American: 62.6% (57.9% Non-Hispanic Whites) African American: 15.6% Native American: 5.3%

Employment by Industries

From 2021 to 2022, employment in Tulsa, OK grew at a rate of 1.51%, from 474k employees to 481k employees. The most common employment sectors for those who live in Tulsa, OK, are Health Care & Social Assistance (64,537 people), Manufacturing (55,977 people), and Retail Trade (55,560 people).

Tulsa County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Released in March 2023, the housing assessment found that 12,900 units of different levels of housing will be needed in the next decade. Current pent-up demand accounts for around 4,000 of those units.

What salary do you need to live in Tulsa? ›

Oklahoma home buyer stats

"Minimum" down payment assumes 3% down on a conventional mortgage with a minimum credit score of 620. If you're eligible for a VA loan (backed by the Department of Veterans Affairs) or a USDA loan (backed by the US Department of Agriculture), you may not need any down payment at all.

It generally costs more to buy a home. However, depending on the housing market, your Tulsa, Oklahoma home may appreciate in value over time. You will also want to consider how long you intend to live on the property prior to buying the home.

Minimum down payment in Oklahoma: The minimum down payment a borrower may put down on a home in Oklahoma depends on the loan. The down payment can be as low as 0% (USDA and VA loans), 3% (Conventional loans), or 3.5% (FHA loans).

According to Consumer Affairs, a family of four that makes at least $61,664 is considered middle class in Oklahoma. Lucky for Oklahomans, this number is on the lower end of income minimums across the country. Alabama and Arkansas are the two states with the lowest income minimum at $51,798.

It comes as new data from ZipRecruiter shows the average livable wage in Oklahoma is $56,102 – just under $27 an hour. According to the Oklahoma Employment Security Commission, the average hourly rate for an Oklahoman working for a business is $29.50 an hour.

The cost of living in Tulsa, OK is 1% lower than the state average and 12% lower than the national average. Tulsa, OK housing is 26% cheaper than the U.S average, while utilities are about 4% less pricey.

This result reflected a growing shift in the Oklahoma City and Tulsa areas to the Democratic Party, as although Republicans won the district back in 2020 and carried it in the presidential election, Democrats won the area in the 2022 elections.

This migration distinguished the city's demographics from neighboring communities (Tulsa has larger and more prominent Catholic and Jewish populations than most Oklahoma cities) and is reflected in the designs of early Tulsa's upscale neighborhoods.

Who is Tulsa's largest employer? ›

From the top 10 to the bottom, here are the largest employers in Oklahoma in 2023. The Department of Defense, not surprisingly, is the largest employer in Oklahoma, according to a new report from the Oklahoma Department of Commerce, which does have a few surprises.

The 5 largest ethnic groups in Tulsa, OK are White (Non-Hispanic) (53%), Black or African American (Non-Hispanic) (14.5%), Two+ (Non-Hispanic) (7.47%), White (Hispanic) (7.15%), and Two+ (Hispanic) (5.03%).

Are Oklahoma home prices dropping or rising? Home prices in Oklahoma are rising overall. Median home prices are up 3.6% since April 2023 and up 16.5% in the past 3 years.

In fact, Tulsa is one of the best markets to buy a property because of its favorable median home price, average days on the market, and good appreciation rate.

Among 74106 residents, there is a homeowner vacancy rate of 2.8% and a rental vacancy rate of 8.1% from a total of 8,619 units.

More people are moving to Oklahoma, and to Tulsa. The U.S. Census said the state's population is growing faster than most of the country. The U.S. Census said about 7,000 people moved to Tulsa in 2021. Some of it was driven by Tulsa Remote, a program that pays people to move here.