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 | $1,200 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,560 | $187,395 | 0.83% | C |
| 3BR | $2,050 | $264,611 | 0.77% | D |
| 4BR | $2,390 | $363,495 | 0.66% | D |
| 5BR | $2,772 | $519,668 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 74011, located in Broken Arrow, OK, presents an interesting landscape for both renters and landlords. The median household income in this area stands at $99,157, which provides a solid financial foundation for residents seeking housing. However, when considering the market rate for rent, which is set at $1,716 per month (ZORI), it becomes evident that a significant portion of the monthly income would need to be allocated towards rent alone. This represents approximately 20.3% of the median income.
In contrast, the Housing Choice Voucher Program, also known as Section 8, offers a more affordable alternative. For fiscal year 2024, the Fair Market Rent (FMR) standard for ZIP 74011 is $1,280. This means that a household receiving a voucher would only pay around 12.9% of their median income towards rent, making it considerably easier on their finances compared to paying the market rate.
Broken Arrow has a rental population of 21.4%, with a total population of 33,900. Given these figures, there is a notable segment of the population who may struggle to afford the market rate for rent, leading to increased competition among landlords for tenants who can pay the ZORI. On the other hand, landlords who accept Section 8 vouchers might find themselves with a steady stream of tenants, albeit at a lower rent rate.
The affordability gap between the ZORI ($1,716) and the FMR ($1,280) highlights the challenge many households face in finding affordable housing. Landlords must weigh the benefits of accepting higher cash rents against the stability and guaranteed payments of Section 8 vouchers. While cash-paying tenants might offer higher immediate returns, the risk of vacancy due to high rent rates cannot be overlooked. Conversely, voucher tenants provide a reliable source of income, albeit at a lower rate, ensuring consistent occupancy.
Takeaway for landlords: In ZIP 74011, where the median income is $99,157, the decision to accept Section 8 vouchers should be based on a careful analysis of the local market conditions and tenant preferences. Landlords who opt to accept vouchers will benefit from reduced vacancy risks and stable income, even if it means lower rent amounts compared to market rates. Those focusing solely on cash-paying tenants must be prepared for a competitive environment and possibly higher vacancy rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.