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 | $710 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $364,459 | 0.33% | F |
U.S. Census Bureau data (2024)
The potential risks for landlords investing in ZIP 74454 under the Section 8 program are significant. Tenant turnover is a major concern, with market rents at $630 compared to the Federal Market Rent (FMR) of $890 for FY 2024. This disparity indicates that tenants might prefer higher-paying non-subsidized properties, leading to frequent turnover. Additionally, vacancy exposure is a critical issue, as the Days on Market (DOM) data is not available, suggesting unpredictable vacancy periods which can impact cash flow.
The deferred maintenance exposure is another risk factor. With a typical home value of $316,594 and a median income of $61,955, many residents may struggle to afford necessary repairs and maintenance, potentially leaving properties in disrepair over time. This situation can be exacerbated if tenants are not financially capable of maintaining their homes adequately, leading to increased wear and tear and higher costs for landlords.
However, these risks must be weighed against the high concentration of renters in the area. The renter share stands at 18.8%, indicating a robust demand for rental housing. High renter density often translates into greater demand for Section 8 vouchers, which can stabilize occupancy rates and provide a steady stream of income. Despite the challenges, the presence of a large number of renters suggests that there will be consistent interest in subsidized housing options.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.