Section 8 Fair Market Rent (FMR) for ZIP 74155 - 2027
Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $960 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
To determine if a landlord should buy in ZIP 74155 for Section 8 purposes, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1140 cover debt service on a property?
- Yes: Proceed to the next question.
- No: Do not invest in this area. The FMR is insufficient to cover the costs associated with property ownership.
- 2) How does the market rent compare to the FMR?
- Above FMR: It depends on the specific property and the landlord's financial situation. While market rents are higher, the FMR is the maximum allowable rent for Section 8 participants.
- At or Below FMR: Consider investing if the FMR covers your debt service and you can find properties that meet the quality standards set by the housing authority.
- 3) Is there sufficient rental demand in the area?
- Yes: If the percentage of renters and the days on market (DOM) indicate strong demand, then investing in this area for Section 8 could be viable.
- No: Do not invest in this area. Insufficient demand means that even if the FMR covers debt service, finding tenants who qualify for Section 8 may be challenging.
The key data points for ZIP 74155 are as follows:
- Fair Market Rent (FMR) for FY 2024 is $1140.
- The percentage of renters and the days on market (DOM) are unknown, making it difficult to assess demand accurately.
Without specific information on market rents and the percentage of renters, it is impossible to provide a definitive recommendation. However, if the FMR of $1140 clears debt service, and you can verify that market rents are at or below this figure, then further investigation into the local rental market is warranted. This includes researching the percentage of renters and the typical days on market for vacant units, which will help determine if there is sufficient demand for Section 8 tenants.
Data Sources: FMR data from HUD (2027).
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.