-2.png)
Rental Market Summary & Key Takeaways
Tulsa Key Takeaways
Landlords
Slight Rent Increase: Month-over-month increase indicates steady demand.
Stable Yearly Growth: A moderate year-over-year increase suggests a healthy market.
Warm Market Temperature: Balanced environment with moderate competition.
Tenants
Stable Prices: Minimal changes in rent offer predictability.
Wide Selection: Ample availability of rentals.
Warm Market: Competitive, but manageable market conditions.
Broken Arrow Key Takeaways
Landlords
Stable Rent: No change year-over-year suggests steady demand.
Decreased Mothly Rent: Indicates a slightly cooling market.
Short Market Time: Lower days on the market suggest faster turnovers.
Tenants
Stable Monthly Rent: No increase month-over-month.
Potential for Negotiation: A cooler market may provide leverage in rent negotiations.
Less Time to Decide: Shorter average days on the market require quick decision-making.
Sources & Additional Information:
- Market temperature is based on changes in renter demand compared to the national average.
- For example, a hot market has increasing demand.
- Temperature is based on all bedrooms and all property types.
- Median rent - 3-bedroom houses: (1) Tulsa - $1,500; (2) Broken Arrow - $1,715; (3) National average - $1,850.
- Bordo, Jonas. “The Complete 2023 Guide to Rent Prices in the US.” Accessed 20 Nov. 2023.
- Source: zillow.com 2023, rental-manager/market-trends/tulsa-ok, Accessed 27 June. 2024.
- Source: zillow.com 2023, rental-manager/market-trends/Broken-Arrow-ok, Accessed 27 June. 2024.