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 | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $77,000 | 1.19% | B |
| 3BR | $1,200 | $137,278 | 0.87% | C |
| 4BR | $1,400 | $211,429 | 0.66% | D |
U.S. Census Bureau data (2024)
In ZIP code 74035 located in Hominy, OK, there are several factors that could present challenges for a first-time Section 8 landlord. The primary concern is tenant turnover, which is likely to be higher due to the significant gap between the market rent of $662 and the Fair Market Rent (FMR) of $890 for fiscal year 2024. This difference can lead to frequent changes in tenants as they seek properties that better match their budget. Additionally, the vacancy exposure is high because the days on market (DOM) for rental properties is not available, indicating potential difficulty in finding tenants quickly. Deferred maintenance is another issue, as the typical home value in the area is $105,979 while the median income stands at $47,833. This suggests that homeowners might struggle to maintain their properties adequately, which could affect the quality of rental units over time.
However, these risks must be weighed against the high renter share of 24.3% in the area. A large proportion of renters typically translates into higher demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of tenants. Despite the challenges posed by the market conditions, the strong presence of renters supports the idea that there will be consistent interest in affordable housing options.
The verdict for a first-time Section 8 landlord in ZIP 74035 is moderate risk. While there are notable risks such as tenant turnover and deferred maintenance, the high renter density offers some mitigation through increased voucher demand.
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.