There is no doubt that Tulsa real estate is booming. At the height of the COVID-19 pandemic,
Forbes ranked the Tulsa area as the
4th hottest housing market in 2021, and residents witnessed ballooning home prices amid limited inventory and bidding wars. While residents and investors continue to flock to Tulsa, there are signs that demand is beginning to wane somewhat, which is good news for those who are looking for South Tulsa homes for sale in 2022.
So what should a new homebuyer or investor know before looking at real estate in T-town? Let’s take a look at what Tulsa has to offer.
Booming economy
Once referred to as the “Oil Capital of the World,” Tulsa has come into its own in recent years with its hip downtown and lively nightlife. Tulsa has a new reputation now, known for culture, sophistication, and an arts scene typically seen in much larger metropolitan areas. Although the oil and energy industries are still big players in the Tulsa economy, new industries have taken center stage, including engineering, technology, finance, and manufacturing. Mega employers Google, Amazon, and most recently electric car manufacturer
Canoo, have also invested heavily in the area.
Low rents, energy costs, and taxes also help make Tulsa an attractive place to do business.
Quality of life
Thanks to a high quality of life, Tulsa is becoming an increasingly popular destination for relocators. Read on to learn more about the fantastic activities and amenities this city can offer its residents.
Active Lifestyle
Tucked along the scenic banks of the Arkansas River between the rolling green hills of the Ozarks, Tulsa offers residents tranquility and an affordable cost of living, coupled with a surprisingly cosmopolitan downtown with plenty of things to do. Residents enjoy an active lifestyle with more than 125 parks and miles of hiking and biking trails throughout the city and along the river. Natural beauty abounds with scenic byways, waterways, and lakes. Downtown Tulsa is home to the nationally-renowned
Gathering Place. This 100-acre urban park is located in the center of Tulsa. With comparisons to New York’s Central Park and Chicago’s Millennium Park, Gathering Place combines nature and urban access where those who own South Tulsa real estate can play, relax, and enjoy a wide range of features, including a lodge, boathouse, nature trails, parks, sports areas, playgrounds, and a pond.
Vibrant nightlife and lively neighborhoods
Artists and musicians have infused Tulsa and its surrounding neighborhoods with unique energy and a wide range of entertainment options. Each neighborhood sports its own flair and personality, offering something for everyone.
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The Blue Dome’s bars and restaurants fuel shoppers as they browse The Boxyard, a shopping area constructed of repurposed shipping containers. This area also hosts special events like the Tulsa Food Truck Festival, Tulsa Tough, district-wide St. Patrick’s Day Celebrations, and a Mardi Gras parade.
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Tulsa’s Arts District keeps a steady beat with historic music halls, like Cain’s Ballroom and The Brady Theater. This lively district is a great destination for art lovers because of its many galleries and museums and its First Friday Art Crawl.
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The edgy Pearl District is an artists’ enclave with an eclectic mix of funky restaurants, coffee shops, and craft beer breweries.
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Tucked in the quiet neighborhood of Maple Ridge, SoBo (South Boston) is home to upscale fashion boutiques, gritty music venues, great barbecue, beer, and coffee.
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Cherry Street in the East Village boasts a popular cocktail lounge and popular bohemian-style pizzeria. It also hosts many special events such as MOJOFest.
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Brookside’s unique shopping, dining, and nightlife is the heartbeat of Midtown.
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Cherry Street is a mile-long stretch of trendy bars, restaurants, and fashion retailers, and is also home to one of Tulsa’s most popular Farmer’s Markets, held on Saturdays from the spring through fall.
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Located conveniently in south Tulsa, Woodland Hills Mall’s million square feet of retail expanse houses more than 165 stores.
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Broken Arrow’s bustling Rose District is full of local shops and restaurants, and Jenks historic Main Street includes a variety of boutiques and antique stores.
Tulsa’s unique blend of affordability, access to an active outdoor lifestyle, and countless things to do make it not only a great place to live, but a great place to invest your South Tulsa real estate dollars.
Tulsa real estate at a glance
Good Return on Investment
With so much to offer, it’s no wonder Tulsa has such a hot housing market. And now that demand has slowed somewhat post-pandemic, it’s a great time to consider South Tulsa real estate for your own home or as an investment in rental property. As of January 2022, the typical value of homes in Tulsa was $169,554, and home values have increased by 17% over the past year, making south Tulsa homes for sale a sound investment if you are looking for a good return when you sell. Tulsa is also an attractive place for investing in rental property. Young professionals are attracted by multiple job prospects, access to an active outdoor lifestyle, and a lively downtown scene. Median monthly rent can range from
$1,100 to $2,100 for a two-bedroom residence, depending on the neighborhood.
Affordability
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recent report on affordable housing awarded Tulsa a “2” rating on an affordability index where “1” was most affordable and “10” was least affordable. The same report predicted that homes for sale in south Tulsa would continue to retain their value and rise steadily on pace with demand. Tulsa’s balance of good returns and affordability makes it desirable to homeowners and investors alike.
Variety
Tulsa offers quaint historic homes, palatial estates, modern urban condos, trendy lofts, quiet suburban retreats, and virtually anything in between. You are sure to find your dream home—whatever your needs or preferences.
When you are ready to explore the many different South Tulsa homes for sale, reach out to Pamela Nichols. An Oklahoma native and 20-year veteran of the real estate industry, Pamela knows the neighborhoods in and around Tulsa and can help you navigate the ins and outs of the South Tulsa real estate market.
*Header photo Courtesy of Downtown Tulsa
