Location: Washington County, 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 | $1,050 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,080 |
| 5 Bedrooms | $2,413 |
| 6 Bedrooms | $2,703 |
| 7 Bedrooms | $2,919 |
| 8 Bedrooms | $3,065 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $165,658 | 0.82% | C |
| 3BR | $1,790 | $272,107 | 0.66% | D |
| 4BR | $2,080 | $352,554 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 74021, located in Collinsville, OK, within the Washington County, OK metro area, presents a unique set of characteristics when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for ZIP 74021 in fiscal year 2024 is set at $1360, which is lower than the market rent of $1,693. This indicates that while government-subsidized rents are slightly below what the market demands, there's still a gap where landlords can potentially benefit from both programs.
The median home value in ZIP 74021 stands at $281,542, which suggests that it is neither the most expensive nor the cheapest neighborhood in the metro. However, considering the FMR and market rent figures, this ZIP code leans towards being a value pocket for small-portfolio investors looking to maximize returns through rental income while maintaining a reasonable property value.
A key indicator for potential investment opportunities is the 17.3% renter share, which is notably higher than the typical percentage in many areas. This high concentration of renters, combined with the relatively lower home values, could signal a sweet spot for Section 8 properties. Landlords can leverage this higher demand for affordable housing to secure steady, government-backed rental income.
To summarize, ZIP 74021 appears to be a value pocket within the Washington County, OK metro. Its FMR of $1360 and market rent of $1,693 suggest a balance between affordability and market rates, making it an attractive option for those seeking stable rental income. Additionally, the high renter share of 17.3% provides further evidence that this ZIP code is well-suited for Section 8 investments, given the strong demand for subsidized housing.
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.