Tulsa wasn't incorporated as a city until 1898 because it had very little going on during its early stages. In the 1830s, Indian tribes such as the Cherokee and Creek settled the area. Europeans only began to move into the region in 1882 when the St. Louis and San Francisco Railroad began serving Tulsa. As with other municipalities, the railroad spurred population growth because people were incentivized to settle permanently and open businesses that served travelers. Still, by 1900 only 1,390 people were living in the city.
Beginning in 1901, when oil was discovered near the city, Tulsa began to experience explosive growth. The local government capitalized on the discovery by offering services to people in the industry. In addition to laborers who moved to Tulsa, several oil companies built headquarters in the city. But the buck didn't stop there. Tulsa was smart enough to take advantage of the oil boom in the early to mid-1900s, and the city built on that success to aggressively diversify its economy into other fields as drilling began moving closer to the shores. Thriving industries in Tulsa now include aerospace, financial services, telecommunications, and technology, and the metropolitan area has an impressive GMP of $54 billion. Local companies range from industry leaders to small businesses. Its 401,190 residents have plenty of employment opportunities, a low cost of living, and an excellent selection of rent-to-own homes.
Tulsa, OK is a great place for affordable rent-to-own homes! With a median household income of over $49,474 and a median rent of $839, the Tulsa, OK rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Tulsa, OK. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
Tulsa, OK is seeing rapid growth and Tulsa, OK's' housing market remains optimal with an average home price that is -34% below the 2023 national average. Tulsa, OK is part of Tulsa county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Tulsa is 1.06% which is above the national average, which is 0.99%.
If you're thinking of moving to Tulsa, the cost of living won't deter you. The city's living expenses are .5% lower than the state average and 16.8% lower than the national average. Municipalities in the area are generally more expensive, other than Sperry, which is 5.3% cheaper than Tulsa. Sand Springs, Broken Arrow, and Owasso are between 2.8% and 9.7% higher.
With Tulsa, you can have your cake and eat it too - the city's economy and amenities come with affordable housing prices. In a state where the median home cost is a low $124,800 - more than $100,000 below the U.S. average of $231,200 - Tulsa is even lower at $118,700. Other than Sperry, where the median cost is $66,200, you won't find a cheaper real estate market than Tulsa in its immediate vicinity. Houses in Sand Springs, Broken Arrow, and Owasso range from $133,800 to $185,200 on average. Tulsa rent-to-own homes are practically a bargain for a major U.S. city.
If you're interested in Tulsa rent-to-own homes, don't forget to consider important factors in addition to monthly living costs, such as average commute, taxes, crime rates, etc. The following are some common Tulsa statistics compared to the U.S. national average.
|Tulsa Averages||National Averages|
|One-Way Commute||18.4 minutes||26.4 minutes|
|Income Tax Rate||5.0%||4.6%|
|Median Household Income||$41,957||$53,482|
|Median Property Taxes||$1,345||$2,200|
|Median Home Cost||$118,700||$231,200|
|Median Home Age||46 years||40 years|
Tulsa is proud of its successes and doesn't try to hide its failures or tragic moments. Learn all about the city and how it developed by visiting the Tulsa Historical Society and Museum. Exhibits provide information about the relocation of Native Americans to the area in 1836, the Tulsa Race Massacre of 1921, and many other historically significant incidents that made the city what it is today. You can also join a tour for a more in-depth outlook on past events in Tulsa.
Even strolling through the streets of Tulsa is enjoyable. Many of its Deco District buildings are 80-100 years old and built with art deco architecture. The Blue Dome and Tulsa Arts Districts have a range of shops, dining, and entertainment to suit every taste. Museums, bars, music, casino resorts, and other venues sprinkle the city with action from early morning until late at night.
If you want to escape to a greener environment, the city maintains approximately 8,652 acres containing 135 parks. The municipality provides water playgrounds, sports fields, community centers, fitness equipment, gyms, swimming pools, splash pads, and open space, among its many recreational offerings throughout the city. Gathering Place, a 100-acre riverfront park located along the Arkansas River, provides over 100 daily experiences for Tulsans. Play areas, engaging activities, events, learning experiences, sports fields, and dining are all available to the public in this magnificent municipal park.
The local government cares about its residents' quality of life and economic well-being. Coupled with low housing and living costs, you'll have a hard time finding a better city to move to than Tulsa.