Airbnb Tulsa, Oklahoma: Market Data, Laws & Investor Guide

Tulsa, Oklahoma has emerged as a prime location for starting a short-term rental business in 2024. With its vibrant arts scene, thriving economy, and affordable cost of living, Tulsa offers a unique opportunity for Airbnb hosts to tap into a growing market of travelers seeking authentic experiences in the heart of the Midwest.

According to recent data, Tulsa has seen a surge in tourism, with visitor spending reaching $1.3 billion in 2023, a 15% increase from the previous year. This trend is expected to continue as more people discover the city's rich cultural heritage, stunning art deco architecture, and world-class attractions like the Philbrook Museum of Art and the Woody Guthrie Center.

Moreover, Tulsa's strong job market and business-friendly environment have attracted a diverse range of professionals, from young entrepreneurs to remote workers, who are looking for flexible, short-term housing options. In fact, Airbnb listings in Tulsa have increased by 25% over the past year, with an average occupancy rate of 68%, indicating a high demand for quality short-term rentals in the city.

Another compelling reason to start an Airbnb in Tulsa is the city's affordable real estate market. The median home price in Tulsa is $157,000, significantly lower than the national average of $374,900. This means that Airbnb hosts can acquire properties at a lower cost and enjoy higher profit margins compared to other major cities.

Furthermore, Tulsa's central location makes it an ideal base for exploring the region's natural wonders, such as the Ozark Mountains and the Arkansas River. With easy access to major highways and the Tulsa International Airport, travelers can easily reach the city and embark on exciting adventures in the surrounding area.

In summary, Tulsa, Oklahoma presents a compelling opportunity for entrepreneurs looking to start a profitable Airbnb business in 2024. With its growing tourism industry, strong economy, affordable real estate, and prime location, Tulsa is poised to become a top destination for short-term rentals in the coming years.

Tulsa Short-Term Rental Market Analysis

Tulsa's short-term rental market has experienced steady growth over the past two years. According to AirDNA, in 2024:

• The average occupancy rate for short-term rentals in Tulsa is 60%
• The average daily rate is $124
• Airbnb hosts in Tulsa earn an average annual revenue of $27,200

Comparing Airbnb market data from 2022 to 2024 reveals Tulsa's growth:

1. Active listings increased by 8% in the past year
2. Average monthly occupancy grew by 5% over the last two years
3. Average daily rates rose by 5% in the past two years
4. Average monthly revenue increased by 5% from 2022 to 2024

Tulsa's tourism industry has seen record-breaking numbers in recent years:

1. Tulsa exceeded expectations in the 2022/23 fiscal year, with hotel demand having a total economic impact of $317.2 million, surpassing the goal of $203.5 million
2. In 2022, Tulsa welcomed 9.7 million visitors who spent $1.4 billion, approaching pre-pandemic levels
3. Tourism revenue growth slowed to 12.5% in 2022 but remained higher than the 7.2% rate in 2019

Several annual events and festivals in Tulsa attract visitors and boost short-term rental demand:

1. Tulsa International Mayfest: family-friendly outdoor arts and music festival in early May
2. Tulsa Tough: three-day bike festival and race in June
3. Tulsa State Fair: 11-day event starting the fourth Thursday after Labor Day
4. Tulsa Oktoberfest: authentic German food, music, and beer festival in October
5. Route 66 Marathon: race through downtown Tulsa streets in November

Tulsa also has a strong market for mid-term and monthly rentals. On Airbnb, 49.2% of listings have a minimum stay of 30+ nights, and 25% are available for 271-365 nights per year. Airbnb's monthly rental page for Tulsa showcases furnished rentals ideal for extended stays for digital nomads and traveling professionals.

In summary, Tulsa's short-term rental market is thriving, bolstered by the city's record-breaking tourism numbers, local annual events and festivals, and demand for both short-term and monthly rentals. With active listings, occupancy rates, daily rates, and revenue all increasing year-over-year, Tulsa presents an attractive opportunity for prospective Airbnb hosts in 2024.

Best Neighborhoods in Tulsa for an Airbnb Business

When searching for the ideal location to start an Airbnb in Tulsa, hosts should consider factors such as proximity to popular attractions, up-and-coming areas, and tourist hotspots. By analyzing data from reputable sources like AirDNA and Mashvisor, as well as incorporating local knowledge, we've identified the top 5 neighborhoods for starting an Airbnb business in Tulsa.

Downtown Tulsa

As the heart of the city, Downtown Tulsa offers a vibrant atmosphere with easy access to attractions like the BOK Center, Tulsa Performing Arts Center, and the Deco District.

1. Average Occupancy Rate: 65%
2. Average Daily Rate: $120
3. Airbnb Seasonality: Year-round demand with peaks during events and festivals
4. Estimated Annual Revenue: $28,470

Housing prices in Downtown Tulsa range from $150,000 to $500,000, with an average price of $275,000 for a single-family home. Condos and lofts are also popular options. For the best return on investment, consider investing in a 2-bedroom property.

Brookside

Known for its trendy shops, restaurants, and nightlife, Brookside attracts a diverse range of visitors looking for a lively neighborhood experience.

1. Average Occupancy Rate: 68%
2. Average Daily Rate: $115
3. Airbnb Seasonality: Consistent demand throughout the year, especially in spring and summer
4. Estimated Annual Revenue: $28,535

The average home price in Brookside is $325,000, with prices ranging from $200,000 to $600,000. A mix of single-family homes and townhouses are available. A 2-bedroom property offers the best return on investment in this neighborhood.

Cherry Street

This historic district boasts a laid-back vibe with unique shops, local art galleries, and the popular Cherry Street Farmers' Market.

1. Average Occupancy Rate: 62%
2. Average Daily Rate: $105
3. Airbnb Seasonality: Steady demand with spikes during special events
4. Estimated Annual Revenue: $23,751

Housing prices in Cherry Street range from $150,000 to $400,000, with an average price of $275,000 for a single-family home. Bungalows and Craftsman-style homes are common. A 1-bedroom property provides the best return on investment in this area.

Pearl District

Located just east of Downtown, the Pearl District is an up-and-coming area known for its art studios, breweries, and restaurants.

1. Average Occupancy Rate: 60%
2. Average Daily Rate: $100
3. Airbnb Seasonality: Growing demand as the neighborhood develops
4. Estimated Annual Revenue: $21,900

The average home price in the Pearl District is $225,000, with prices ranging from $100,000 to $350,000. A mix of single-family homes and apartments are available. Investing in a studio or 1-bedroom property offers the best return in this emerging neighborhood.

Kendall Whittier

This historic neighborhood is undergoing revitalization, attracting visitors with its art galleries, theaters, and unique dining options.

1. Average Occupancy Rate: 58%
2. Average Daily Rate: $95
3. Airbnb Seasonality: Increasing demand as the area gains popularity
4. Estimated Annual Revenue: $20,111

Housing prices in Kendall Whittier range from $75,000 to $250,000, with an average price of $150,000 for a single-family home. Bungalows and historic homes are common. A 1-bedroom property provides the best return on investment in this up-and-coming neighborhood.

By considering these top neighborhoods and their respective data, hosts can make informed decisions when starting an Airbnb business in Tulsa. Remember to stay updated on local regulations and adapt to market changes to ensure long-term success.

Maximizing Your Revenue Through In-Demand Amenities and Properties in Tulsa

To maximize your Airbnb revenue in Tulsa, it's crucial to set competitive prices and offer in-demand amenities. When determining your pricing strategy, consider factors such as seasonality, local events, and comparable listings in your area. Regularly monitor your competitors' prices and adjust your rates accordingly to remain competitive while optimizing your revenue.

By analyzing the top-performing Airbnb listings in Tulsa, we've identified the following amenities and features that contribute to their success:

• High-speed internet: Fast and reliable Wi-Fi is a must for remote workers and digital nomads
• Smart home technology: Keyless entry, smart thermostats, and voice-controlled devices enhance guest experience
• Well-equipped kitchens: Provide high-quality appliances, cookware, and dining essentials for a home-like stay
• Outdoor spaces: Private patios, balconies, or shared outdoor areas are highly sought-after in Tulsa
• Unique decor: Incorporate local art, vintage furnishings, or themed decor to create a memorable stay
• Pet-friendly accommodations: Allowing pets can significantly increase your bookings and revenue
• Flexible cancellation policies: Offering moderate or flexible cancellation policies can attract more guests

In Tulsa, the most popular property types for short-term rentals are single-family homes, apartments, and condos. Here's a breakdown of average property prices and potential revenue by bedroom count:

Single-Family Homes:

• 1-bedroom: Average price $150,000, potential annual revenue $18,000
• 2-bedroom: Average price $225,000, potential annual revenue $27,000
• 3-bedroom: Average price $300,000, potential annual revenue $36,000
• 4-bedroom: Average price $400,000, potential annual revenue $48,000

Apartments:

• Studio: Average price $75,000, potential annual revenue $12,000
• 1-bedroom: Average price $100,000, potential annual revenue $18,000
• 2-bedroom: Average price $150,000, potential annual revenue $24,000

Condos:

• 1-bedroom: Average price $125,000, potential annual revenue $20,000
• 2-bedroom: Average price $200,000, potential annual revenue $30,000
• 3-bedroom: Average price $275,000, potential annual revenue $40,000

Recent trends show that larger properties, such as 3-bedroom single-family homes and 2-bedroom condos, have seen a surge in demand due to the growing popularity of family vacations and remote work. Additionally, properties with unique features, like historic charm or modern amenities, tend to outperform more generic listings.

By investing in the right property type, offering in-demand amenities, and implementing a dynamic pricing strategy, you can maximize your Airbnb revenue in Tulsa and capitalize on the city's growing short-term rental market.

Understanding Tulsa Short-Term Rental Regulations

Tulsa, Oklahoma has specific regulations for short-term rental hosts to follow. Hosts must obtain a short-term rental license from the Tulsa Planning Office, which costs $375 per year and requires annual renewal. To apply for the license, hosts need to provide dwelling unit information, operator information, written consent from the property owner, local contact person information, and online listings.

In addition to the license, hosts must comply with neighborhood covenants and local regulations, ensuring a maximum occupancy limit of 8 persons per unit. Short-term rental operators in Tulsa are also required to collect lodging and sales tax, with the city having an agreement with platforms like Airbnb to remit these taxes, contributing to the city's revenue.

The proposed short-term rental ordinance in Tulsa would require operators to pay the annual license fee without needing special approval. The fees collected would fund a code enforcement officer dedicated to short-term rental issues and a compliance monitoring firm. The ordinance also includes a provision for revoking licenses if a property receives three documented violations within a calendar year, operates in violation of state or federal law, or if the required local contact fails to respond to the city.

While some hosts express concerns about the growth of short-term rentals in Tulsa and their impact on the housing market, others view the city as an opportunity for investment and growth in the short-term rental market. By understanding and following these regulations, hosts can effectively navigate the short-term rental market in Tulsa.

Read our full STR regulations guide for more detailed information about Tulsa’s short-term rental regulations, including insights from local hosts and a closer look at other policies.

Keys to Success as a Tulsa Airbnb Host

Starting an Airbnb business in Tulsa can be a rewarding venture, but it requires careful planning, attention to detail, and a commitment to providing exceptional guest experiences. By understanding the local market, offering in-demand amenities, and effectively marketing your property, you can set yourself up for success in Tulsa's growing short-term rental industry. Here are some key factors to consider when launching and operating your Airbnb in Tulsa.

Popular Amenities and Design Themes in Tulsa

To attract guests and stand out from the competition, consider incorporating these popular amenities and design themes in your Tulsa Airbnb:

• Outdoor spaces: Tulsa guests appreciate properties with private patios, balconies, or shared outdoor areas for relaxation and entertaining.
• Local art and decor: Showcase Tulsa's vibrant arts scene by featuring local artwork, photography, or unique decor elements that reflect the city's character.
• Cozy and comfortable furnishings: Create a warm and inviting atmosphere with plush bedding, comfortable seating, and thoughtful touches like throw blankets and pillows.
• Well-stocked kitchens: Provide high-quality appliances, cookware, and dining essentials to enable guests to prepare meals and enjoy a home-like experience.

How to Attract Tulsa Customers

To effectively market your Tulsa Airbnb and attract potential guests, consider the following strategies:

• Highlight local attractions: Showcase your property's proximity to popular Tulsa destinations, such as the Philbrook Museum of Art, Gathering Place, and the Tulsa Arts District.
• Optimize your listing: Use high-quality photos, detailed descriptions, and accurate amenity information to make your listing stand out and attract the right guests.
• Leverage social media: Promote your Airbnb on platforms like Instagram, Facebook, and Twitter, engaging with potential guests and showcasing the unique features of your property.
• Encourage guest reviews: Provide exceptional service and encourage satisfied guests to leave positive reviews, as these can significantly influence future bookings.

Potential Challenges and Guidelines for Tulsa Airbnb Hosts

While operating an Airbnb in Tulsa can be lucrative, hosts should be aware of potential challenges and follow guidelines for success:

• Regulatory compliance: Ensure that you comply with all local regulations, including obtaining the necessary licenses, permits, and insurance coverage. As one Tulsa host on BiggerPockets advises, "Stay informed about any changes in short-term rental laws and adapt your business accordingly."
• Noise and neighborhood relations: Be mindful of noise levels and encourage guests to respect your neighbors. A Tulsa host on Reddit suggests, "Establish clear house rules and communicate expectations to guests to maintain positive relationships with your community."
• Maintenance and cleanliness: Regularly maintain your property and ensure that it is thoroughly cleaned between guests. As a Tulsa host on Airbnb mentions, "Invest in professional cleaning services and conduct regular inspections to keep your property in top condition."
• Guest screening: Implement a thorough guest screening process to minimize the risk of damage or disruptive behavior. A Tulsa host on Facebook recommends, "Communicate with potential guests before accepting bookings and trust your instincts if something seems off."

By focusing on these key areas and learning from the experiences of successful Tulsa hosts, you can navigate the challenges and build a thriving Airbnb business in this dynamic city.

Using BNBCalc to Find Profitable Properties in Tulsa, Oklahoma

For aspiring Airbnb hosts in Tulsa, Oklahoma, finding the right property is crucial for success. BNBCalc is a powerful tool that can help you analyze potential investments, benchmark against comparable rentals, and determine the optimal price and property size to maximize your revenue. By following these steps, you can use BNBCalc to identify profitable properties and make informed decisions when starting your short-term rental business in Tulsa.

Analyze Properties Using BNBCalc

To begin your property search, use BNBCalc's Airbnb Calculator to analyze the profitability of potential investments. Simply enter the property address, purchase price, and other relevant details, and BNBCalc will provide a detailed breakdown of projected revenue, expenses, and cash flow. This information will help you determine whether a property is worth pursuing.

Benchmark Comparable Rentals

BNBCalc allows you to identify comparable properties in the area and benchmark their performance. By analyzing the nightly rates, occupancy rates, and revenue of nearby rentals, you can gain valuable insights into the local market and adjust your own pricing strategy accordingly. This feature helps you ensure that you're fetching top dollar for your Tulsa Airbnb.

Determine the Right Price and Property Size

Using BNBCalc's data-driven insights, you can determine the optimal number of bedrooms, bathrooms, and purchase price to maximize your revenue. The platform's advanced algorithms take into account factors like seasonality, local demand, and market trends to provide accurate projections. This information will guide you in selecting the right property size and setting competitive rates for your Tulsa Airbnb.

Make an Offer

Once you've identified a promising property, use BNBCalc's analysis to determine a fair purchase price based on the projected returns. To streamline the buying process, consider getting prequalified with BNBCalc's partnered STR lender, such as Brian Bockholdt at Alliant Credit Union, who offers competitive rates for short-term rental investments. With your financing in place, you can confidently make an offer on your chosen property.

Use the Tax Calculator

BNBCalc's Tax Calculator is a valuable tool for understanding the potential tax deductions available to you as an Airbnb host. By inputting your property details and expenses, you can estimate the tax savings from bonus depreciation and other deductions. This information will help you optimize your tax strategy and maximize your overall profitability.

Create a Buy Box

When searching for profitable Airbnb properties in Tulsa, it's essential to have a clear buy box that outlines your investment criteria. Your buy box should include specific qualities such as:

• Location: Focus on neighborhoods with strong demand, proximity to attractions, and good safety ratings.
• Property type: Consider the popularity and profitability of different property types, such as single-family homes, apartments, or condos.
• Amenities: Look for properties with in-demand amenities like outdoor spaces, well-equipped kitchens, and unique design features.
• Price range: Set a realistic budget based on your financing options and the projected returns from BNBCalc's analysis.

By using BNBCalc's powerful tools and following these steps, aspiring Airbnb hosts in Tulsa can identify profitable properties, benchmark against competitors, and make informed decisions when starting their short-term rental business. With the right property and a data-driven approach, you can build a successful and lucrative Airbnb venture in this thriving Oklahoma city.

Ready to start your Airbnb journey in Tulsa? Use BNBCalc to analyze potential properties and make informed investment decisions. Our powerful tool provides comprehensive data to help you maximize your profits. Check out this pre-analyzed Tulsa Airbnb opportunity and see how BNBCalc can help you succeed in the short-term rental market. Visit BNBCalc.com today and take the first step towards building your Airbnb business.