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 | $1,160 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $1,970 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,500 | $223,325 | 0.67% | D |
| 3BR | $1,970 | $247,639 | 0.8% | D |
| 4BR | $2,300 | $859,218 | 0.27% | F |
| 5BR | $2,668 | $1,409,966 | 0.19% | F |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 74114 in Tulsa, OK, for fiscal year 2024 is set at $1370. This figure represents the maximum amount that a landlord can charge for a unit under the Section 8 Housing Choice Voucher program. In comparison, the market rent, measured by Zillow's Observed Rent Index (ZORI), stands at $1494. This indicates that voucher tenants in this area would typically cashflow marginally, meaning landlords could expect a slight shortfall between the voucher payment and the actual market rent.
To further analyze the investment potential, consider the median home value in ZIP 74114, which is $277,587. The rent-to-price ratio, calculated using the ZORI, is approximately 0.54%, suggesting a relatively low rental yield compared to property values. However, this metric alone does not fully capture the investment landscape, as it does not account for the stability and demand factors inherent in the housing market.
The median days on market (DOM) for properties in this area is 33 days, indicating a brisk sales pace. Additionally, the price-cut share is only 0.4%, which suggests that sellers are not having to lower their asking prices significantly to attract buyers. These figures point to a strong rental market, where demand outstrips supply, making rental properties more attractive.
The strongest investor angle in ZIP 74114 is likely stability. Despite the marginal cash flow, the robust demand and quick turnover times provide a reliable and steady income stream, which is particularly valuable for small-portfolio investors looking to diversify their holdings.
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.