Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $930 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,850 |
| 5 Bedrooms | $2,146 |
| 6 Bedrooms | $2,404 |
| 7 Bedrooms | $2,596 |
| 8 Bedrooms | $2,726 |
The ZIP code 74031 in Tulsa County stands out due to limited available data regarding its residents, rental percentages, median income, and median home values. Despite these gaps, there is significant insight to be gleaned from the Federal Market Rent (FMR) figures pertinent to the area.
The FMR for ZIP 74031 is set at $1130 for fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it directly influences the amount of rental assistance that can be provided to tenants through the Section 8 program. While the market rent data for the area is not specified, the FMR serves as a benchmark for what is considered a fair rent for subsidized housing units.
In terms of voucher economics, landlords who participate in the Section 8 program within ZIP 74031 can expect to receive a payment standard that reflects the $1130 FMR. This means that the maximum subsidy amount for a unit in this ZIP code will be based on this figure, which can help stabilize cash flows for properties accepting vouchers.
Given the lack of detailed demographic data, it's challenging to fully characterize the ZIP code as either stable or transitional. However, the presence of a defined FMR suggests some level of stability in the rental market, even if other specifics remain unclear. Landlords should monitor local market conditions closely to make informed decisions about participation in the Section 8 program.
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.