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 2022 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 2022 for county Tulsa is 1.06% which is above the national average, which is 0.99%.
Tulsa, OK has a walk score of
Tulsa, OK has a bike score of
The state tax rate is 0.25 to 4.75% on top of the federal tax rate of 10 to 37%.