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 | $1,000 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,700 | $247,959 | 0.69% | D |
U.S. Census Bureau data (2024)
In ZIP code 74041, there are several factors that could pose challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the market rent of $1,151 against the Fair Market Rent (FMR) of $1,150 for fiscal year 2024. This slight disparity suggests that tenants might be attracted to non-Section 8 units offering similar rents, leading to higher turnover rates.
Vacancy exposure is another critical issue. The Days on Market (DOM) data is currently unavailable, which means there's uncertainty about how long it might take to fill a vacant unit. This unpredictability can lead to extended periods without rental income, impacting cash flow and profitability.
Deferred maintenance poses a financial risk due to the typical home value of $243,106 and a median income of $83,365. Landlords must ensure properties meet Section 8 standards, which can require substantial upfront investment. With median incomes lower than home values, maintaining a positive cash flow while managing these costs can be challenging.
However, these risks are balanced by the high renter share in the area, which stands at 17.9%. High renter density generally indicates a robust demand for housing vouchers, making it easier to find eligible tenants. This demand can help mitigate some of the risks associated with vacancy and turnover.
Verdict: Moderate risk for a first-time Section 8 landlord.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.