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 | $850 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $149,337 | 0.74% | D |
| 3BR | $1,440 | $196,188 | 0.73% | D |
| 4BR | $1,680 | $233,746 | 0.72% | D |
U.S. Census Bureau data (2024)
The ZIP code 74129 in Tulsa, OK, presents a unique challenge for renters and landlords alike. The median income for households in this area stands at $49,677 according to recent Census data. Given the market rate rent of $987 per month, it becomes evident that a significant portion of the population may struggle to afford housing without financial assistance.
Comparatively, the Fair Market Rent (FMR) as determined by the Housing Choice Voucher program for fiscal year 2024 is set at $1160. This figure represents the maximum amount that the voucher will cover for rent and utilities, which is higher than the current market rate. However, the FMR exceeds the median monthly income of the area, indicating a substantial affordability gap for many residents.
With half of the population renting and a total population of 18,382, the competition among landlords is likely intense. Landlords must consider the balance between accepting voucher tenants, who provide a guaranteed source of income through the government, and cash-paying tenants, who might offer slightly higher rents but come with the risk of defaulting on payments due to financial instability.
The takeaway for landlords in ZIP 74129 is clear: accepting voucher tenants can be a stable strategy given the high FMR compared to the median income. It ensures a consistent flow of income and reduces the risk associated with non-payment. However, landlords should also be prepared to adjust their rental pricing to align closer with the FMR to attract voucher holders effectively, while maintaining a competitive edge against other landlords who might only cater to cash-paying tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.