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 |
|---|---|---|---|---|
| 2BR | $1,090 | $107,975 | 1.01% | B |
| 3BR | $1,430 | $145,007 | 0.99% | C |
| 4BR | $1,670 | $162,363 | 1.03% | B |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 74106 in Tulsa, OK, suggest a market where demand is closely aligned with supply, but with some interesting nuances that frame it as a market in motion. The Fair Market Rent (FMR) for ZIP 74106 in fiscal year 2024 is set at $960, which is significantly lower than the market rent of $1,255 as indicated by Zillow's ZORI index. This disparity points towards a rental market that is slightly above the government's benchmark, indicating a healthy level of demand.
A 0.2% price-cut share is a minimal figure, suggesting that landlords are generally able to maintain their rental rates without needing to reduce them to attract tenants. However, the absence of data on days on market (DOM) makes it difficult to assess the speed at which properties are being leased. Despite this gap, the low price-cut share suggests that the market is not oversupplied with rental units, as landlords would be more inclined to cut prices if they faced stiff competition.
The median home value in ZIP 74106 stands at $107,049, a figure that could attract first-time homebuyers and investors looking for affordable entry points into the real estate market. This relatively low median home value, combined with the higher market rent, indicates that there might be opportunities for positive cash flow in rental properties, especially for those who can manage maintenance costs effectively.
A key statistic to consider is the 53.7% renter share, which is notably high. This suggests that a majority of households in the area prefer renting over owning, which could be due to various factors including affordability, job mobility, or lifestyle choices. A high renter share implies ongoing pressure on the rental market, likely contributing to steady demand for rental properties. For landlords and small-portfolio investors, this means that while there may be competition, there is also a consistent need for rental housing, supporting the potential for stable occupancy rates.
In summary, ZIP 74106 presents a rental market that is in flux, driven by a balance between supply and demand, with rental prices slightly exceeding fair market rents. The high renter share signals sustained pressure on the rental sector, offering both challenges and opportunities for real estate investors. The low price-cut share and the median home value suggest that the area remains attractive for rental investments, particularly for those targeting budget-conscious tenants.
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.