Location: Tulsa, OK | Metro: Tulsa, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,500 |
| 5 Bedrooms | $1,740 |
| 6 Bedrooms | $1,949 |
| 7 Bedrooms | $2,105 |
| 8 Bedrooms | $2,210 |
U.S. Census Bureau data (2024)
The ZIP code 74458 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, as the Fair Market Rent (FMR) for the area stands at $950 for FY 2024, which is notably lower than typical market rents. This discrepancy can lead to higher turnover rates as tenants may seek better rental deals outside the program. Vacancy exposure is another issue, with the days on market (DOM) being unavailable. However, given that the typical home value and median income data are also not available, it suggests a potential difficulty in assessing the financial health of prospective tenants and the condition of properties they might occupy.
Despite these risks, there are factors that mitigate the overall investment risk. The renter share in ZIP 74458 is 10.6%, indicating a relatively high concentration of renters. High renter density often correlates with increased demand for housing vouchers, thus potentially stabilizing occupancy rates through the Section 8 program. Additionally, the presence of a substantial number of renters can signify a robust rental market, which could be beneficial for landlords who manage their properties effectively.
In summary, while there are notable risks associated with tenant turnover and vacancy exposure due to limited data availability, the high renter density offers some reassurance. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 74458 is moderate.
Data Sources: FMR data from HUD (2027). 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.