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 |
To profile ZIP code 74159 for Section 8 tenants, we must first acknowledge the limitations of the available data. The population, percentage of renters, and median household income are all listed as N/A, which complicates a detailed analysis. However, based on the Fixed Monthly Rate (FMR) set by HUD for fiscal year 2024 at $1140, we can infer some aspects of the rental market.
The lack of specific population and income data suggests that this area might be less populated or have sparse economic reporting. This could indicate a smaller or more rural setting where large-scale statistical surveys are less frequent.
Without precise figures on median market rents, it's challenging to provide an exact percentage of how much typical rent consumes of local income. However, given the FMR of $1140, we can assume that the rental market is likely to be somewhat aligned with this figure, as landlords often adjust their pricing to match or slightly exceed the FMR to attract voucher holders while maintaining profitability.
The presence of Section 8 vouchers in an area is indicative of a significant low-income population that relies on government assistance for housing. In ZIP 74159, landlords should prepare for a tenant pool that primarily consists of individuals or families who qualify for housing vouchers due to their income level. These tenants will typically have a monthly income that allows them to contribute 30% towards rent, with the remainder covered by the voucher program up to the FMR limit of $1140.
A landlord in ZIP 74159 should expect to deal with tenants who require the stability and support offered by Section 8 vouchers. It's important to note that these tenants are subject to rigorous screening processes by the housing authority to ensure they meet eligibility criteria, including income verification and background checks. Landlords will need to comply with federal regulations regarding voucher usage and maintenance standards.
In conclusion, ZIP 74159 appears to be a niche market where Section 8 vouchers play a crucial role in enabling access to housing. Given the FMR of $1140, landlords should price their units accordingly to attract voucher holders. They should also be prepared to work with tenants whose primary qualification for housing is through government assistance programs.
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.