Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 74054 is currently characterized by a significant disparity between the Fair Market Rent (FMR) set by HUD for the fiscal year 2024 at $890 and the actual market rent reported by the Census ACS at $636. This suggests that the rental market in this area may be experiencing a situation where supply slightly outpaces demand, leading to rents being lower than the government's benchmark. However, the lack of specific data on price cut shares and days on market (DOM) makes it challenging to definitively conclude the balance of supply and demand.
A key indicator of long-term housing pressure in ZIP 74054 is the 20.7% renter share of the population. This relatively low percentage of renters compared to homeowners implies that there might be less immediate pressure on the rental market. However, it also indicates that a significant portion of the population remains vulnerable to housing instability, which can create ongoing demand for rental properties if economic conditions change.
In the context of small-portfolio investors and landlords, the current dynamics suggest a cautious approach. While the rental market appears to be stable, with rents below the FMR, the potential for increased housing pressure due to economic shifts should be considered. Investors and landlords should monitor local economic indicators and the broader housing market trends to adapt their strategies accordingly.
Data Sources: FMR data from HUD (2027). 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.