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The Tulsa Real Estate Market: Trends for 2023

Groundfloor is offering an unprecedented $30 million financing pledge to real estate developers in Tulsa. Those looking to take advantage of this opportunity can begin the process now, where they can apply online in a matter of minutes! Investors who want greater portfolio diversification and consistent returns up to 10% can start the investment process – with sign-up taking just moments, it's never been easier or faster!

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Let's learn more about why Tulsa real estate market is booming!

With its flourishing economy, Tulsa has catapulted to the top of many prospective homeowners' lists. The city offers an ideal mix for buyers – median home prices that remain amongst the most affordable in America and rapid appreciation values - offering strong returns on investments. Not only does this "Green Country" area boast a vibrant community nestled along two scenic mountain ranges straddling either side; it is also becoming increasingly attractive due to booming industries such as aerospace, finance, manufacturing and high tech!

With a population of over one million and climbing, Tulsa is blooming with potential. Last year alone saw an influx of 7,000 new residents - bringing along increased median household incomes and growing property values. Investing in rental properties has never been more attractive for investors looking to cash in on the golden opportunity that this flourishing city offers!

Tulsa is the second-largest city in Oklahoma and home to over a million residents! It's no surprise since more than 25% of Oklahomans live within Tulsa's metropolitan statistical area (MSA). Plus, its population growth has been on an incredible upswing with 8.3% rise just between 2010 - 2020 alone! With seven counties comprising Metro Tulsa, including Rogers, Pawnee and Creek Counties – all 1+m citizens have plenty of options for calling this amazing region their home.

The Tulsa Job Market

Despite the challenging economic environment, Tulsa's job market had a thriving 2021-2022. Amazon opened its third fulfillment center in the area and electric vehicle manufacturer Canoo announced plans to build a $400 million plant that will support 2,000 new positions. Furthermore, low rents, energy costs and taxes make it 11% more affordable than average for businesses looking to establish operations there - so it is no wonder why this city continues gaining momentum!

Why Move to Tulsa

Homebuyers looking for a taste of the Midwest are expanding in Tulsa, OK. With over 1,000 homes currently on offer (February 2023) and prices ranging from pocket change all the way up to an opulent 8.5 million dollars - there’s something in this Tulsa that will suit every budget! The median listing price is $227K while sold home prices hover around 205K – not bad at all considering you can find spacious townhomes or duplexes/triplexes for bargain basement rates here too!

The housing market is booming! In January 2023, the median home listing price increased 10.9% year-over-year to a hefty $227.3K and was accompanied by an average per square foot cost of $134 -- making it one of America's most attractive real estate markets for prospective buyers and sellers alike. The Median Home Sold Price came in at a cool $205K in that same period too!

Tulsa, OK is an exceptional place to call home. With 144 public schools rated good and higher by GreatSchools as well as 55 private and charter schools, it's no wonder that homes in this incredible city sell fast—around 60 days on the market! The trend for median days on market has gone up since last month, subtly increasing from last year - clearly families are eager to move into Tulsa. 

In the past year, Tulsa, OK has experienced a steady rental market with no changes to average 1-bedroom rent prices. However, over the last month apartment shoppers have seen increases in studio and 1-bedroom rents of 19% and 12%, respectively. For those looking for a bit more space, 2 bedrooms saw an increase of 4%. As it stands right now on February 4th, 2023 — one bedroom apartments are commanding an average monthly rental rate of $949 dollars while two-bedders clock in at around $1,089 per month.

As you can see, Tulsa is a great place to invest and live. Groundfloor is revolutionizing real estate investing, and Tulsa has been chosen as the platform's next big milestone! To commemorate this exciting announcement, Groundfloor will be dedicating an impressive $30 million to help local home flippers and independent developers in the city take advantage of the residential housing boom. An added bonus? Everyday investors can easily get involved by affording a mere minimum investment of just $10!



Clinton Dugan

SR. Organic Growth Manager