This month Apartment List reports the national rent index jumped another 2.5%, tying last month’s record-setting growth. The national median rent has now increased by 11.5% in 2021, and is 9.4% above the pre-pandemic level from March 2020. That’s inflation.
Rents are still below pre-pandemic levels in a handful of pricey markets (e.g., San Francisco, NYC), but even in these cities prices are quickly rebounding. In fact, rents are now increasing in virtually all of the nation’s 100 largest cities. What follows are the Tulsa Metro highlights and national market illustration.
Rents in Tulsa increased 1.3% month-over-month, compared to 2.5% nationally. Month-over-month growth in Tulsa ranks #85 among the nation’s 100 largest cities. Better by far than most cities.
Year-over-year rent growth in Tulsa currently stands at 7.8%, compared to 2.9% at this time last year.
Median rents in Tulsa currently stand at $772 for a 1-bedroom apartment and $1007 for a two-bedroom.