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 | $1,160 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,970 | $228,938 | 0.86% | C |
| 4BR | $2,300 | $332,703 | 0.69% | D |
U.S. Census Bureau data (2024)
30.1% of residents in ZIP 74033 rent their homes, indicating a moderate demand for rental properties. The $1350 Fair Market Rent (FMR) for Section 8 eligibility in ZIP 74033 for fiscal year 2024 is lower than the $1,506 market rent (ZORI), suggesting that landlords can expect slightly higher rents outside of the Section 8 program. However, the median home value stands at $242,708, which is significantly higher than the average rent, showing that homeownership is also a viable option for many in the area.
$80,542 is the median income for households in ZIP 74033, which is crucial for understanding the financial capabilities of potential tenants. This figure, combined with the $1350 FMR, means that tenants participating in the Section 8 program will likely have additional income available for utilities and other living expenses. The 29-day Days on Market (DOM) statistic indicates that properties are typically rented quickly, suggesting strong interest from tenants looking for housing in this ZIP code.
The 0.1% price-cut share suggests that rental prices in ZIP 74033 are relatively stable, with few landlords needing to reduce their asking prices to attract tenants. This stability can be beneficial for small-portfolio investors who prefer consistent cash flows without frequent adjustments to rental rates.
In summary, the data paints a picture of a market where the demand for rentals is balanced, with a slight preference for market rates over Section 8 rents. The quick rental times and stable prices indicate a healthy rental environment. For landlords considering the Section 8 program, the lower FMR compared to the market rent may mean accepting slightly less income per unit, but the security of steady tenants and a manageable DOM period makes it a viable option. The verdict on Section 8 in ZIP 74033 is positive, given the robust rental market and the ability to leverage the program for reliable tenancy.
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.