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 | $1,360 |
| 1 Bedroom | $1,440 |
| 2 Bedrooms | $1,760 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,760 | $193,063 | 0.91% | C |
| 3BR | $2,310 | $294,830 | 0.78% | D |
| 4BR | $2,700 | $422,270 | 0.64% | D |
| 5BR | $3,132 | $511,465 | 0.61% | D |
U.S. Census Bureau data (2024)
The ZIP code 74037 in Jenks, Oklahoma, stands out within Tulsa County due to its unique demographic and economic characteristics. With a population of 24,547, Jenks has a rental rate of 23.1%, indicating a predominantly owner-occupied community. The median income here is notably high at $103,942, reflecting a prosperous local economy. Additionally, the median home value of $340,323 suggests a stable housing market with significant property investment.
From an investment perspective, the disparity between the Fair Market Rent (FMR) and the actual market rent, known as the ZORI, presents a strategic opportunity. For the fiscal year 2024, the FMR for ZIP 74037 is set at $1,540, whereas the ZORI, which represents the true market rent, is $1,809. This difference means that landlords who accept Section 8 vouchers can expect a subsidy that covers approximately 85% of the actual market rent. However, it's important to note that the remaining 15% must be covered by the tenant, ensuring a balance between affordability and market rates.
The data signature for ZIP 74037 reads as stable. High median incomes and substantial median home values indicate a mature, well-established community. While the rental market is smaller compared to ownership, the relatively high FMR and ZORI figures suggest that there is sufficient demand for rental properties among both voucher holders and non-voucher tenants. This stability provides a reliable foundation for landlords and small-portfolio investors looking to enter or expand their presence in Jenks, Oklahoma.
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.