Section 8 Fair Market Rent (FMR) for ZIP 74018 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 74018, located in Tulsa County, Oklahoma, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1130. This figure represents the maximum amount that the housing authority will reimburse landlords for rent.

To understand how this works, consider the components of a Section 8 voucher payment. Tenants are required to pay 30% of their adjusted income toward rent. The remaining amount is covered by the housing authority, up to the SAFMR limit. Additionally, there are utility allowances that can vary based on the size of the unit and the number of occupants.

Let's break down the payment process. If a tenant's adjusted income is $1000 per month, they would pay $300 toward rent ($1000 x 0.30). The housing authority would then cover the difference between the tenant's contribution and the SAFMR, which in this case is $830 ($1130 - $300).

Utility allowances are separate payments made by the housing authority to help cover utilities. For a two-bedroom unit, these allowances typically range from $150 to $250 per month, depending on the specific circumstances of the household. However, these amounts do not increase the total SAFMR; they are additional payments to the tenant directly.

Given the SAFMR of $1130 for a two-bedroom apartment, landlords in ZIP 74018 should expect to receive this amount as reimbursement from the housing authority. Since the local market rent is not available, it's important to note that the SAFMR is the benchmark for what landlords can reasonably charge for a two-bedroom unit under the Section 8 program.

In summary, the typical reimbursement gap or surplus for a two-bedroom unit in ZIP 74018 is zero if the landlord charges exactly $1130. If the landlord charges less, there would be a surplus, meaning the tenant might have extra funds to contribute to rent. Conversely, if the landlord charges more than $1130, there would be a gap that the tenant would need to cover out-of-pocket, which is not allowed under the program rules. Therefore, setting your rent at or below the SAFMR of $1130 ensures compliance and full reimbursement.

Data Sources: FMR data from HUD (2027).

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.