Location: Washington County, 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 | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,240 | $200,807 | 0.62% | D |
U.S. Census Bureau data (2024)
The investment landscape for Section 8 landlords in ZIP 74051 presents several challenges that must be carefully considered. Tenant turnover is a significant risk, with the market rent at $861 falling below the Fair Market Rent (FMR) of $1030 for fiscal year 2024. This discrepancy can lead to higher turnover rates as tenants seeking subsidies may find it difficult to secure housing at the lower market rate.
Vacancy exposure is another concern, as the Days on Market (DOM) data is currently unavailable. This lack of information makes it difficult to predict how quickly properties might fill when vacant, potentially leading to extended periods without rental income.
Deferred maintenance poses a third risk. The typical home value in ZIP 74051 is $189,208, while the median income stands at $67,841. These figures suggest that residents may struggle to afford necessary repairs and upgrades, which could affect property values and require landlords to shoulder the costs of maintaining their investments.
However, these risks are offset by a high concentration of renters in the area, with 19.3% of the population renting. High renter density typically correlates with greater demand for housing vouchers, indicating that there may be a robust pool of potential Section 8 tenants. This demand can stabilize occupancy rates and provide a steady stream of rental income.
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.