| Rental Statistics by Tulsa Metro City January 1, 2023 - December 31, 2023 |
| ALL OF TULSA METRO: |
| Total Number of Single Family Homes Leased: 1,238 (up 8.69% from 2022) |
| Average Price Per Square Foot: $1.06 (up 6.65% from 2022) |
| Average Days on Market: 32.0 (up 30.61% from 2022) |
| Average Rent Rate: $1,715.98 (up 1.23% from 2022) |
| TULSA: |
| Total Number of Single Family Homes Leased: 438 (down 17.7% from 2022) |
| Average Price Per Square Foot: $1.07 (up 6.83% from 2022) |
| Average Days on Market: 32.25 (up 26.47% from 2022) |
| Average Rent Rate: $1,487.20 (down 0.59% from 2022) |
| BROKEN ARROW: |
| Total Number of Single Family Homes Leased: 330 (down 4.90% from 2022) |
| Average Price Per Square Foot: $1.03 (up 4.38% from 2022) |
| Average Days on Market: 29.70 (up 25.11% from 2022) |
| Average Rent Rate: $1,781.96 (up 3.72% from 2022) |
| OWASSO: |
| Total Number of Single Family Homes Leased: 115 (down 8.00% from 2022) |
| Average Price Per Square Foot: $1.03 (up 2.36% from 2022) |
| Average Days on Market: 26.19 (up 4.5% from 2022) |
| Average Rent Rate: $1,806.05 (no change) |
| JENKS: |
| Total Number of Single Family Homes Leased: 122 (up 117.86% from 2022) |
| Average Price Per Square Foot: $0.98 (no change) |
| Average Days on Market: 19 (up 40.85% from 2022) |
| Average Rent Rate: $1,860.90 (up 0.59% from 2022) |
| BIXBY: |
| Total Number of Single Family Homes Leased: 114 (up 44.30% from 2022) |
| Average Price Per Square Foot: $1.05 (up 3.06% from 2022) |
| Average Days on Market: 29.57 (up 9.52% from 2022) |
| Average Rent Rate: $2,020.48 (up 7.24% from 2022) |
In 2023, the rental property market in the Tulsa Metro witnessed notable changes. Overall, the total number of single-family homes leased increased by 8.69%, reaching 1,238. The average price per square foot rose by 6.65%, settling at $1.06. However, the most significant shift was observed in the average days on market, which surged by 30.61% to 32.0 days. The average rent rate experienced a moderate increase of 1.23%, amounting to $1,715.98.
Analyzing specific Tulsa Metro cities, Tulsa experienced a decline in the total number of leased homes, dropping by 17.7% to 438. Despite this, the average price per square foot increased by 6.83%, reaching $1.07. The average days on market rose by 26.47% to 32.25 days, while the average rent rate decreased slightly by 0.59% to $1,487.20.
In Broken Arrow, the total number of leased homes decreased by 4.90% to 330, but the average price per square foot saw a 4.38% increase to $1.03. The average days on market increased by 25.11% to 29.70 days, and the average rent rate rose by 3.72% to $1,781.96.
Owasso experienced an 8.00% decline in the total number of leased homes (115), with a 2.36% increase in the average price per square foot ($1.03). The average days on market increased by 4.5% to 26.19 days, while the average rent rate remained unchanged at $1,806.05.
Jenks saw a significant surge in the total number of leased homes, rising by 117.86% to 122. Although the average price per square foot remained unchanged at $0.98, the average days on market increased by 40.85% to 19 days. The average rent rate also experienced a modest increase of 0.59% to $1,860.90.
Bixby exhibited a noteworthy increase of 44.30% in the total number of leased homes (114). The average price per square foot rose by 3.06% to $1.05, and the average days on market increased by 9.52% to 29.57 days. The average rent rate showed a substantial increase of 7.24% to $2,020.48. These statistics provide valuable insights into the dynamic rental property landscape in Tulsa Metro during 2023.
