Demand accelerated sharply in Q2 2026, with 705 units absorbed pushing trailing 12-month absorption to 1,446 units, exceeding the 1,270 units delivered and establishing a positive supply-demand balance for the first in several years.
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The construction pipeline is contracting rapidly, with trailing 12-month construction starts down more than 50% from a year ago, and just 553 units underway, or 0.8% of inventory, one of the leanest pipelines in the region.
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Rents have stabilized near $1,051 per unit after two consecutive quarters of growth, outperforming both Oklahoma City and Northwest Arkansas, which remain in negative annual territory, while occupancy improved 65 basis points sequentially, suggesting the market is finding its footing.
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MARKET OUTLOOK
Tulsa's multifamily market is entering a late-cycle transition with increasingly favorable supply-demand dynamics...
