Codes and Lack of Variety, the Culprits of Tulsa’s Housing Shortage

According to data from the Greater Tulsa Association of Realtors, since 2020, average home prices in the city have increased by $117,000. This was one of many figures presented to city councilors last month, highlighting the housing shortage throughout the metropolitan area, as Housing Solutions Tulsa estimated in March of last year that the city would need about 13,000 new homes to meet demand from now until 2033. However, due to existing codes, there are limitations on the types of housing that can be built in Tulsa.

Daniel Jeffries, an urban planner who presented to the city councilors, told a local media outlet that there are simply laws that do not allow most types of housing in much of the city, so much so that only 20% of the city’s land permits the construction of multi-family homes or apartments. For this reason, city records indicate that builders have constructed fewer of these types of homes over the past four years. Additionally, Mr. Jeffries points out that these restrictions contribute to rising home prices, as more types of housing would lead to greater price diversity.

However, this data does not necessarily reflect the type of housing people want to acquire today, as more than half of Tulsa residents surveyed in 2019 expressed their willingness to live in duplexes or townhouses, types of housing that represent only 7% and 3% of the total homes in the city, respectively. According to city records, the construction of these types of homes has remained below 10% of new homes. City officials also express that another reason for the lack of this type of housing is that many Tulsa residents oppose multi-family homes in their neighborhoods.

Many other urban planners argue that regardless of the type of housing built, the city of Tulsa must increase the number of homes approved for construction by more than 50 percent each year, in order to reach an average pace that alleviates the housing shortage in the coming years. Another possible relief to this housing shortage situation is suggested by Councilor Christian Bengel, who says that real estate developers could use vacant structures, such as abandoned hotels and empty houses, which could be purchased and adapted for this purpose, helping many people to find housing.

Available Foreclosures:

Tulsa: 150 homes available.

By Elías DaSilva | 25 de octubre de 2024.