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 | $780 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,550 |
| 5 Bedrooms | $1,798 |
| 6 Bedrooms | $2,014 |
| 7 Bedrooms | $2,175 |
| 8 Bedrooms | $2,284 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $140,941 | 0.72% | D |
| 3BR | $1,320 | $215,207 | 0.61% | D |
| 4BR | $1,550 | $279,716 | 0.55% | F |
U.S. Census Bureau data (2024)
ZIP 74467, located in Wagoner, OK, within the larger HUD Metro FMR Area that includes Tulsa, OK, presents a strategic opportunity for landlords and small-portfolio investors focused on Section 8 properties. This ZIP code is best suited as an appreciation play within a Section 8 portfolio strategy.
The key factors supporting this classification include the low price-cut share of 0.2%, indicating that homes in this area maintain their value well, and the relatively short days on market (DOM) of 68 days, which suggests strong demand and quick turnover for properties. These attributes make ZIP 74467 an ideal location for investment properties that are likely to appreciate over time due to consistent demand and stable pricing.
Additionally, the median home value of $185,564 in ZIP 74467 aligns closely with the financial realities faced by Section 8 tenants, whose Fair Market Rent (FMR) for a one-bedroom unit is set at $960 for fiscal year 2024. This is notably higher than the market rent of $849, creating a positive spread that can be leveraged to ensure steady cash flow while also positioning properties for potential appreciation.
While the renter share stands at 30.0%, and the median income of $60,036 could suggest diversification opportunities, the primary driver for investment in this ZIP code should be the potential for property value growth. The combination of strong market conditions and favorable financial metrics makes ZIP 74467 a valuable addition to a Section 8 portfolio aimed at long-term appreciation.
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.