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 | $920 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,190 | $113,875 | 1.05% | B |
| 3BR | $1,560 | $171,975 | 0.91% | C |
| 4BR | $1,820 | $269,850 | 0.67% | D |
U.S. Census Bureau data (2024)
Tulsa, Oklahoma's ZIP code 74127, located in Osage County, stands out due to its unique demographic and economic characteristics. With a population of 16,324 residents, 42.5% of whom are renters, the area reflects a significant demand for rental properties. The median household income here is $46,373, while the median home value is notably higher at $132,475, indicating a robust real estate market.
The Section 8 voucher program plays a crucial role in this ZIP code's housing landscape. The Fair Market Rent (FMR) for ZIP 74127 in fiscal year 2024 is set at $1,080, which is slightly below the market rate of $1,089 as indicated by the ZORI (Zillow Rent Index). This minor gap suggests that landlords participating in the Section 8 program can expect to receive rents that closely align with the market average, minimizing financial loss.
The data signature for ZIP 74127 reads as stable. The relatively high median home value and the substantial percentage of renters point towards a consistent housing demand. Additionally, the close alignment between the FMR and market rent rates supports a steady environment where landlords can effectively manage their properties without facing significant fluctuations in rental income.
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.