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 | $840 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,430 | $231,438 | 0.62% | D |
U.S. Census Bureau data (2024)
The potential downsides of investing in Section 8 properties in ZIP code 74039 start with tenant turnover. The market rent of $925 is notably lower than the Fair Market Rent (FMR) of $1020 for fiscal year 2024, which suggests that tenants might be more inclined to leave once their subsidy expires. This can lead to higher vacancy rates and increased costs associated with finding new tenants. Additionally, the vacancy exposure is heightened due to the lack of available data on the average number of days on market (DOM), making it difficult to predict how long a property might remain vacant. Deferred maintenance is another significant risk factor, considering the typical home value of $220,501 and the median income of $64,286. With such a disparity between home values and median incomes, landlords must be prepared for the possibility of needing to cover additional repair and maintenance costs themselves.
However, these risks are somewhat mitigated by the high renter share of 19.7%. High renter density often translates into a greater demand for rental housing, including Section 8 vouchers. This means that there is likely to be a steady stream of potential tenants who qualify for the program, reducing the likelihood of extended vacancies.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.