Tulsa housing costs surge 40% as homelessness crisis worsens

Tulsa's housing crisis is reaching alarming levels, with effective market rents skyrocketing by over 40% from 2018 to 2025, according to the latest findings presented at the Council Public Works Committee meeting on June 25, 2025. The average rent in the area has surged from approximately $700 to around $1,040, highlighting a significant imbalance between supply and demand.

The discussion revealed that while other cities like Austin and various parts of California have faced similar housing affordability issues, Tulsa's rapid increase in housing costs has occurred within a much shorter timeframe. This swift rise has not been matched by a corresponding increase in area median incomes, leading to a growing number of households struggling to afford basic living expenses.

The committee emphasized that the lack of affordable housing is the primary driver of homelessness in Tulsa. Many residents are just one financial setback away from losing their homes, with job loss or personal crises pushing them into precarious situations. The barriers to re-entering the housing market are steep, as individuals often need between $2,000 to $3,000 in cash for first month's rent, security deposits, and other moving costs—an unattainable sum for those living paycheck to paycheck.

Additionally, the meeting highlighted the increasing number of individuals reporting mental health challenges as contributing factors to homelessness. The need for comprehensive case management services is critical, as many individuals lack basic identification and access to essential resources.

As the city grapples with these pressing issues, the committee underscored that the number one priority remains securing more housing options for those experiencing homelessness. The urgency of the situation calls for immediate action to address the growing crisis and provide support for vulnerable populations across Tulsa.