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 | $860 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,470 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $175,901 | 0.64% | D |
| 3BR | $1,470 | $279,739 | 0.53% | F |
| 4BR | $1,720 | $496,313 | 0.35% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 74073, which includes Sperry, OK, stands at $87,045. At first glance, this might seem sufficient for covering the market rate rent of $933. However, the reality is more nuanced. A household earning the median income would likely struggle to consistently pay the market rate rent without significant financial strain, considering other living expenses.
The Fair Market Rent (FMR) set by HUD for ZIP 74073 for fiscal year 2024 is $1,110. This figure represents the maximum amount that a Section 8 voucher holder can pay toward their rent. Landlords who accept Section 8 vouchers will receive the difference between the tenant's portion and the FMR directly from the government.
With only 13.7% of the 5,881 population being renters, competition among landlords for tenants is relatively low compared to densely populated areas. However, the affordability gap between the median income and both the market rate ($933) and FMR ($1,110) highlights a challenge for attracting and retaining tenants who can afford these rates.
The takeaway for landlords considering voucher versus cash-pay strategies is clear: accepting Section 8 vouchers can provide a steady stream of guaranteed income, albeit at a lower rate than the market allows. Given the tight budget constraints many potential renters face, vouchers offer a reliable option for maintaining occupancy rates. For those landlords willing to navigate the slightly more complex process of working with housing authorities, the stability provided by voucher payments can outweigh the risks associated with finding cash-paying tenants who can meet higher rental prices.
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.