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 analysis of ZIP code 74157 within the HUD Metro FMR Area for Tulsa, OK reveals several key points regarding its viability for Section 8 investments.
Regarding the rent math, the Family Monthly Rent (FMR) set at $1140 for fiscal year 2024 is the benchmark figure for determining if the rent is financially viable. However, the lack of specific market rent data makes it impossible to directly compare these figures. Without this comparison, landlords cannot definitively assess whether the rent math works in their favor.
On the issue of acquisition affordability, the absence of specific median home value, days on market (DOM), and the percentage of homes that have had their prices cut indicates a gap in critical information needed to evaluate the cost-effectiveness of purchasing properties in this area. This missing data prevents a thorough assessment of how affordable it is to acquire homes suitable for Section 8 tenants.
Concerning tenant demand, the ZIP code's population and the percentage of renters are unspecified, which means there is no concrete data to determine the level of demand for rental housing. Without knowing the size of the potential tenant pool and the proportion of residents who rent, it is difficult to gauge the likelihood of finding enough qualified Section 8 tenants.
In conclusion, while ZIP 74157 offers a defined FMR of $1140 for fiscal year 2024, the lack of detailed market rent, median home value, DOM, price-cut share, population, and renter share percentages leaves significant uncertainty about the financial feasibility of Section 8 investments here. Landlords and small-portfolio investors should seek additional data to make informed decisions regarding property acquisitions and rental management strategies in this area.
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.