Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $164,751 | 0.73% | D |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 74002 presents a unique set of conditions that landlords and small-portfolio investors should consider. With a median home value at $138,370, the area offers an entry point into homeownership that is relatively affordable compared to many other markets across the country. However, the absence of data on the percentage of listings that have been reduced and the median days on market (DOM) suggests stability in the housing market, but also indicates a lack of recent volatility or significant changes in demand.
On the rental side, the Forward Monthly Rent (FMR) for ZIP code 74002 is projected at $890 for fiscal year 2024, which contrasts with the current market rent of $715 as reported by the Census Bureau's American Community Survey. This gap between FMR and actual market rents signals potential upward pressure on rental prices in the coming years. Landlords and investors can expect to see gradual increases in rental rates, aligning with the FMR projections, as the market adjusts to economic conditions and possibly higher costs of living.
For long-term investors, the setup in ZIP 74002 implies a moderate appreciation thesis. The combination of an affordable median home value and the expected rise in rental rates can contribute to increased property values over time. As rental income becomes more competitive with the FMR, it can attract more buyers into the market, driving up demand and potentially leading to higher property values. However, the lack of specific data on listing reductions and DOM suggests that while there is room for growth, it will likely be steady rather than explosive.
Investors should also consider the broader economic context of the area. While the median home value and rental dynamics provide a snapshot of the market, external factors such as employment trends, population growth, and infrastructure development play critical roles in shaping future appreciation. Monitoring these elements alongside housing and rental metrics will give a clearer picture of the long-term investment landscape in ZIP 74002.
In summary, the current data points towards a stable yet moderately appreciating market for ZIP 74002. The affordability of homes combined with the projected increase in rental rates supports a positive outlook for both short-term cash flow and long-term capital gains. However, the absence of certain key indicators suggests caution in expecting rapid changes, and a focus on the fundamental drivers of real estate value will be essential for successful investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.