Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
| 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 |
The investment risk assessment for ZIP 74156 in Unknown, OK, highlights several critical issues that could go wrong for a landlord or small-portfolio investor considering Section 8 participation. First, tenant turnover poses a significant challenge due to the disparity between the local market rent and the Fair Market Rent (FMR) set at $1140 for FY 2024. The absence of specific market rent data indicates potential volatility in rental pricing, which could affect the stability of tenancy.
Vacancy exposure is another concern, with the lack of Days on Market (DOM) data suggesting uncertainty regarding how quickly properties can be rented out. This unpredictability can lead to extended periods without rental income, increasing financial strain on the property owner.
The risk of deferred maintenance is heightened when there is no information available on the typical home value and median income in the area. Without these figures, it's difficult to assess the financial capability of tenants to maintain the property adequately, potentially leading to higher repair costs and maintenance needs for the landlord.
However, these risks must be weighed against the high concentration of renters in the area, indicated by the N/A% renter share. High renter density typically translates into greater demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of rental income through the Section 8 program.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 74156 is moderate.
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.