Tulsa’s apartment market is receiving a considerable amount of national press as of late. A couple of weeks ago, the city’s apartment market was ranked as one of the top 10 markets nationally for rent growth with a 2.1-percent annual growth in apartment rents. Now, The Street has ranked Tulsa one of the top 10 great cities in the nation for becoming a landlord in 2011.
The Street comprised this list as more people are abandoning homeownership nationally and are moving back into for-rent apartments. In fact, the article quoted a recent REIS Inc. report that cited how national apartment vacancy decreased to 6.2 percent last quarter from 6.6 percent the previous quarter. This was the second-largest increase in occupancy recorded during the winter months since 2000 and the lowest vacancy rate since 2008.
In the article, The Street reported that Tulsa’s current apartment vacancy rate is 8.3 percent with an average rent of $584 per month. While Tulsa’s rents are growing in value, The Street said the big draw in Tulsa is the creation of jobs.
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