Tulsa ranks high for house flipping

Tulsa is the 11th best city in the nation if you want to “flip a house,” according WalletHub.com and its 2016’s Best Cities to Flip House report. House flipping is buying a rundown property, renovating it and selling it for a profit. There were 110,000 house flipping investors in 2015 with an average gross profit of $55,000.

WalletHub’s number crunchers compared the 150 largest cities based on 19 key metrics. The factors range from “median purchase price” to “average full home remodeling costs” to “housing-market health index.” Tulsa ranks No. 12 in “House flipping market potential.” Tulsa is No. 16 in “Renovation and remodeling costs.” Tulsa is No. 97 in “Quality of life.”

Here are some rankings for Tulsa: (1 is best, 75 is average)

  • 1st – Number of Real-Estate Agents per Capita
  • 10th – Avg. Kitchen Remodeling Costs
  • 10th – Avg. Full Home Remodeling Costs
  • 24th – Avg. Gross Return on Investment
  • 30th – Median Purchase Price
  • 35th – Avg. Bathroom Remodeling Costs
  • 36th – Housing-Market Health Index
  • 49th – Percentage of Population with Walkable Park Access
  • 59th – Median Salary (Adjusted for Cost of Living)

Top Flipping Market Cities

  1. Sioux Falls, South Dakota
  2. Fort Wayne, Indiana
  3. El Paso, Texas
  4. Oklahoma City
  5. Lincoln, Nebraska
  6. Lubbock, Texas
  7. Tampa, Florida
  8. New Orleans, Lousiana
  9. Boise, Idaho,
  10. Laredo, Texas
  11. Tulsa
Highest average gross return on investmentPittsburg
Lowest average gross return on investmentAustin, Texas
Lowest median purchase priceCleveland, Ohio
Highest median purchase priceFreemont, California
Highest percentage of home flipsMemphis, Tennessee
Lowest percentage of home flipsJackson, Mississippi

Most real estate agents per capita

  1. Tulsa
  2. Seattle
  3. Oklahoma City
  4. Atlanta, Georga
  5. Miami
  6. Orlando
Fewest real-estate agents per capitaOxnard, California
Lowest average kitchen remodeling costsMobile, Alabama
Highest Average kitchen remodeling costNewark, New Jersey
Lowest average bathroom remodeling costsLittle Rock, Arkansas
Highest Average bathroom remodeling costBoston, Massachusetts
Highest median salaryGilbert, Arizona