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Tulsa vs Oklahoma City for Rental Property Investing

Side-by-side comparison of Tulsa, OK and Oklahoma City, OK — cap rates, rent, prices, and investment metrics.

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Tulsa wins 4–3 across key metrics
Tulsa leads on cash flow (4.64% vs 4.46% cap rate) · Oklahoma City leads on population growth
Metric
Tulsa, OK
Oklahoma City, OK
Est. Cap Rate
4.64%
4.46%
Median Home Price
$195,000
$210,000
Median Monthly Rent
$1,100
$1,150
1% Rule
0.56%
0.55%
GRM
14.8x
15.2x
Price / Income
3.9x
3.8x
Property Tax Rate
0.9%
0.88%
Vacancy Rate
6.3%
6.5%
Population Growth
0.6% / yr
1% / yr
Annual Appreciation
2.3%
2.4%
Population
413,066
687,725
Median Income
$50,200
$54,600

Tulsa vs Oklahoma City: Which Is Better for Investors?

Cash flow: Tulsa has the edge with an estimated cap rate of 4.64% compared to Oklahoma City's 4.46%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $195,000 in Tulsa vs $210,000 in Oklahoma City, while rents come in at $1,100/mo and $1,150/mo respectively.

Growth & appreciation: Oklahoma City is growing faster at 1% annually vs Tulsa's 0.6%. Oklahoma City leads on home value appreciation at 2.4% per year.

Costs & risk: Property taxes are 0.9% in Tulsa vs 0.88% in Oklahoma City. Vacancy rates of 6.3% and 6.5% are mixed — Tulsa has the tighter rental market.

Bottom line: Tulsa edges out Oklahoma City on most key metrics. While cap rates are moderate at 4.64%, Tulsa's overall profile is stronger. Use our free calculators to model specific deals in Tulsa or Oklahoma City.

Tulsa, OK
4.64% cap rate · $195,000 median · $1,100/mo
Full analysis →
Oklahoma City, OK
4.46% cap rate · $210,000 median · $1,150/mo
Full analysis →
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