MARKET SNAPSHOT

Tulsa Q3 2026

AVERAGE RENT

$1,065 Q3 2026

OCCUPANCY RATE

89.4% Q3 2026

NET ABSORPTION

1,035 T4Q

ANNUAL RENT CHANGE

1.1% Q3 2026

YoY OCCUPANCY CHANGE

-20 BPS

UNIT COMPLETIONS

977 T4Q

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KEY TAKEAWAYS
Annual absorption of 1,035 units has edged ahead of the 977 units delivered over the past year, the first time demand has outpaced new supply since early 2022.
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Effective rents rose 1.4% in the third quarter and 1.1% year over year to $1,065, the strongest annual gain since early 2025.
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Occupancy has recovered 70 basis points from its late-2025 low to 89.4%, as the construction pipeline has fallen to its smallest level since 2022.
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MARKET OUTLOOK

Tulsa's market is turning a corner as supply pressures fade. Annual absorption of 1,035 units has edged past deliveries for the first time since early 2022, completions have fallen 34% to 977 units, and the pipeline sits 64% below its 2023 peak...

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Colton Howell 2026

Colton Howell

Managing Director

colton.howell@mmgrea.com

richardRedding

Richard Redding

Senior Director

richard.redding@mmgrea.com

Stuart Krous 2024

Stuart Krous

Senior Advisor

stuart.krous@mmgrea.com

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