MARKET SNAPSHOT

TULSA q1 2025

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AVERAGE RENT

$1,027 Q1 2025

OCCUPANCY RATE

91.9% Q1 2025

QUARTERLY NET ABSORPTION

488 Q1 2025

ANNUAL RENT CHANGE

2.0% Q1 2025

ANNUAL OCCUPANCY CHANGE

-10 BPS Q1 2025

QUARTERLY COMPLETIONS

0 Q1 2025

KEY TAKEAWAYS
Net absorption totaled 1,260 units over the 12 months ending March 2025, slightly outpacing the 1,220 units delivered—signaling a shift toward supply-demand equilibrium.
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Roughly 1,500 units are currently under construction in Tulsa, down nearly 50% from the cycle peak and representing just 2.2% of existing inventory.
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Tulsa Multifamily investment activity accelerated in 2024, with single-asset trades rising to 13—up from 8 in 2023, according to Real Capital Analytics.
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MARKET OUTLOOK

The Tulsa multifamily market is well-positioned for meaningful growth through 2025, supported by a sharp slowdown in new supply and resilient renter demand...

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