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 | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,480 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,130 | $180,622 | 0.63% | D |
| 3BR | $1,480 | $254,635 | 0.58% | F |
| 4BR | $1,730 | $343,518 | 0.5% | F |
U.S. Census Bureau data (2024)
The dynamics of ZIP 74429, located in Coweta, OK, reveal a market in motion, characterized by specific indicators that point towards a balanced yet evolving environment. The Fair Market Rent (FMR) for the area is set at $1120 for fiscal year 2024, while the actual market rent, measured by Zillow's ZORI index, stands at $1,673. This discrepancy suggests that the rental market is experiencing upward pressure, indicating a scenario where demand may be slightly outpacing supply.
A further insight into the market's state can be gleaned from the 0.2% price-cut share and a 44-day days-on-market (DOM) average. These figures imply that sellers are generally not compelled to reduce their asking prices significantly, and homes are moving relatively quickly once listed. This indicates a market where sellers have a slight advantage, but it is not overly saturated with inventory.
The median home value in ZIP 74429 is $263,447, which reflects the overall affordability and desirability of the housing stock. With a 23.5% renter share, there is a notable portion of the population choosing to rent rather than buy. This high renter share suggests that long-term housing pressure could be significant, as a substantial number of residents are likely to remain renters due to various factors such as affordability, mobility needs, or investment considerations.
The interplay between these metrics paints a picture of a market where rental demand is robust, and homeownership is accessible but not without competition. Landlords and small-portfolio investors should take note of the strong rental market, which is indicative of a steady income potential for those who own properties in the area. However, the relatively quick sales process for homes also signals an opportunity for investors looking to acquire properties for future rental or resale.
In summary, ZIP 74429 presents a market where demand for both rentals and home purchases is present, but the rental sector shows particular strength. This balance offers opportunities for different types of investments, with the rental market being particularly vibrant. The data suggest a market poised for continued growth, driven by both renters and buyers seeking affordable options in Coweta, OK.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.