At the June 2026 reporting endpoint, Zillow's ZIP-level ZORI for 74136 is $878 per month, down from the matching month a year earlier. ZORI is a typical observed asking-rent index blended across rental types, rather than a quoted rent for one dwelling. The label is both a Zillow ZIP market identifier and a matched Census ZCTA: a ZCTA is a statistical area and is not identical to a USPS delivery ZIP. The matched ACS 2024 five-year survey instead reports a $989 median gross rent for occupied renter homes, including selected utilities. Its higher level records a different survey universe from current advertised asking rents; it neither converts ZORI into a lease quote nor shows what any particular household pays.
The cooling category comes from precise same-month history: a 0.62% annualized decline over 1 year, compared with positive annualized changes of 2.35% over 3 years and 4.99% over 5 years. Thus recent direction breaks from, rather than confirms, the longer upward path. Monthly rent changes annualize to 3.39% variability, which argues for reading the current index alongside the multi-period record rather than treating one snapshot as a stable path. Separately, the worst peak-to-trough drawdown was 3.48%. The supplied history has complete coverage. Its transparent national discovery ranks are 2,108 for momentum, 2,131 for stability, and 2,482 for balanced performance; lower ranks are higher. All are backward-looking measurements, not forecasts or investment recommendations.
The resale record sets up the main cross-market tension. Redfin's direct rolling-three-month ZIP resale observation shows a $299,932 median sold price, 4.32% higher year over year, even as Zillow's current asking-rent index moved lower. It also records 108 homes sold and a 27-day median marketing time. Inventory was 87 homes, or 2.4 months of supply; the average sale-to-list ratio was 96.53%, and 15.25% of sales closed above list. These are for-sale transaction, inventory, and marketing signals—not rental transactions, rental comparables, or property economics. The sale-price rise challenges any simple conclusion that the rent cooling history represents a broad price decline; it also does not overturn the separate income screen or ACS burden result.
The required income associated with the monthly index at the 30% screen is $35,120 annually. This is arithmetic—annualized index divided by the screen—not advice, a household budget, or an applicant qualification rule. For broad income context, the ACS median household income is $51,820, and the index's annualized amount equals 20.3% of that figure; the comparison does not substitute household income for renter income. ACS also counts 9,638 renter-occupied homes, of which 4,710 are in households spending the threshold or more of income on gross rent, a 48.9% burden share. That survey burden statistic cannot prove the burden of a particular unit or future lease.
The bedroom figures are modelled estimates, not measured bedroom rents. Scaling ZIP ZORI with the local HUD ladder produces $674 for a studio, $709 for one bedroom, $878 for two bedrooms, $1,159 for three bedrooms, and $1,342 for four bedrooms each month. The two-bedroom figure is the scaling anchor, not evidence that the observed index describes a two-bedroom unit. HUD's FY2026 FMR/SAFMR schedule supplies a bedroom-specific administrative standard for the ladder; it is not asking rent, and the scaled results do not document lease terms, utilities, condition, or availability.
The matched ACS stock count frames the rental data without identifying available units. Of 16,309 housing units, 1,489 were vacant, a 9.1% ZCTA vacancy rate. Renters occupied 65.0% of occupied units. Structure data distinguish single-family units from units in large multifamily buildings, describing published stock categories rather than the location, condition, or pricing of active listings. Vacancy is an area-level status classification, so it cannot establish that a specific home is vacant, offered for rent, suitable for a renter, or attainable at the ZORI level.
In wider geographic context, the Tulsa city-context rent is $1,272, the Tulsa County-context rent is $1,352, and the Tulsa, OK metro-context rent is $1,361; each is broader context, not a ZIP measurement. The local index is lower than all three, but that does not make them rental comparables or reveal why they differ. They contain geography and rental mixes outside the ZIP identifier, while the ACS ZCTA survey and Zillow asking-rent index already differ in purpose, timing, and coverage. The comparison is useful for scale, not for substituting a city, county, or metro figure for the ZIP reading.
One cross-source screen annualizes ZIP ZORI and divides it by the median sold price, producing 3.51%. It is only a screening ratio, not a cap rate, net return, expected return, or property yield; it contains neither matched property characteristics nor operating costs or financing terms. Needed checks are the actual unit's advertised rent, bedroom count, fees and utilities, lease terms, condition, availability, and date. For the resale side, checks include the sold homes' property type, condition, list-price history, closing date, and whether they are comparable to the unit under review. Do the unit and sale records actually align closely enough for the conflicting asking-rent, survey, and resale signals to inform the property under review?
","findings":[{"body":"The current ZIP asking index declined from the matching prior year, even though the exact same-month three- and five-year measures stayed positive. That pattern makes the recent reading a break in direction, not confirmation of the longer record. Complete history coverage supports the measurement, while recorded variability and drawdown limit how much confidence a reader should place in one current index snapshot.","title":"Asking-rent cooling breaks from the longer record"},{"body":"The studio-through-four-bedroom amounts are generated by applying the local HUD bedroom ladder to the ZIP asking-rent index. They preserve the ladder's relative structure, but are not observed rents for available units. HUD FMR/SAFMR is an administrative standard, whereas ZORI blends observed asking rents across types. Unit-specific rent, fees, utilities, lease terms, condition, and availability remain unmeasured.","title":"Bedroom amounts are scaling outputs"},{"body":"The ACS ZCTA survey finds a substantial share of occupied renter households spending at least the stated threshold on gross rent. Because gross rent includes selected utilities and the survey measures occupied homes, it is not an asking-rent measure. Nor can an area-level burden statistic establish the cost burden, availability, or qualification outcome associated with a particular home or lease.","title":"Survey burden is material but not a unit verdict"},{"body":"Redfin gives a sales-side counterpoint: its direct ZIP rolling resale observation shows a rising median sold price while the asking-rent index cooled. Sales volume, marketing time, supply, inventory, and sale-to-list outcomes are resale liquidity evidence only. They do not create rental comparables or property economics. The annualized-rent-to-price calculation remains a cross-source screening ratio until unit and sale records are matched.","title":"Resale strength is a separate market signal"}],"risks":["ZORI blends rental types and represents a typical observed asking index, so it cannot identify the advertised rent, concessions, fees, utilities, or lease terms for any individual dwelling.","The ZCTA is statistical rather than USPS delivery geography, and the ACS five-year survey has a different observation universe and time frame from the current ZIP asking-rent index.","Area-level vacancy and cost-burden measures categorize housing units and surveyed households, not a chosen property; they cannot establish whether that property is vacant, affordable, available, or suitable.","The resale median combines sold homes within a rolling observation period. Without property-type, condition, transaction-date, and list-price-history matching, it cannot be translated into rental economics or an individual unit valuation."],"qa":[{"a":"Zillow's ZIP ZORI is a typical observed asking-rent index blended across rental types at the June 2026 endpoint. The ACS figure is a 2024 five-year median gross rent among occupied renter homes and includes selected utilities. Different geography, timing, population, and rent definitions prevent treating the two values as interchangeable.","q":"Why is the Zillow asking-rent index different from the ACS gross-rent figure?"},{"a":"No. The studio-through-four-bedroom values are modelled by scaling the ZIP ZORI with the local HUD FMR/SAFMR ladder. HUD supplies an administrative bedroom standard, not asking rent. The outputs therefore do not measure an advertised unit, signed lease, concessions, utility arrangement, or availability of any apartment or house.","q":"Are the bedroom ladder estimates observed local rents?"},{"a":"No. The exact same-month one-year change is negative, while the three-year and five-year annualized measures remain positive. This marks a backward-looking directional break. Full coverage makes the series complete, but variability and maximum drawdown show that one current monthly index point carries less context than the entire observed path.","q":"Does cooling erase the longer asking-rent growth record?"},{"a":"No. Redfin's rolling three-month ZIP data describe sold homes and for-sale marketing: median sold price, sales count, time on market, inventory, supply, and sale-to-list results. Those observations can challenge a simple shared-market reading, but they do not identify advertised rents, tenant costs, or property-level rental economics.","q":"Can Redfin sales metrics be used as rental comparables?"}],"sources":[{"key":"apartment_list_time_on_market","name":"Apartment List Time on Market — listing liquidity","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/category/data-rent-estimates"},{"key":"apartment_list_vacancy","name":"Apartment List Vacancy Index — rental vacancy","release":"Apartment List 2026-07","pulledAt":"2026-08-08","url":"https://www.apartmentlist.com/research/apartment-list-vacancy-index-methodology"},{"key":"census_zcta_facts","name":"Census ACS five-year — ZCTA housing and income","release":"ACS 2024 5-year ZCTA","pulledAt":"2026-08-08","url":"https://api.census.gov/data/2024/acs/acs5.html"},{"key":"hud_zip","name":"HUD USPS crosswalk and Small Area FMRs — ZIP rent fallback","release":"ZIP-CBSA 2025Q4 + SAFMR FY2026","pulledAt":"2026-07-26","url":"https://www.huduser.gov/portal/datasets/usps_crosswalk.html"},{"key":"realtor_county","name":"Realtor.com Economic Research — county listing inventory","release":"county inventory 2026-06","pulledAt":"2026-07-28","url":"https://www.realtor.com/research/data/"},{"key":"redfin","name":"Redfin Data Center — inventory, days on market, and price cuts","release":"metro tracker through 2026-05-01","pulledAt":"2026-07-26","url":"https://www.redfin.com/news/data-center/"},{"key":"redfin_zip","name":"Redfin Data Center — ZIP resale activity and supply","release":"ZIP rolling 3 months through 2026-06-30; updated 2026-07-03","pulledAt":"2026-08-12","url":"https://www.redfin.com/news/data-center/"},{"key":"zillow_county","name":"Zillow ZHVI and ZORI — county values and rents","release":"county ZHVI/ZORI 2026-06","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori","name":"Zillow ZORI — metro market rents","release":"Metro_zori_uc_sfrcondomfr_sm_sa_month.csv","pulledAt":"2026-07-26","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_city","name":"Zillow ZORI — city market rents","release":"zillow_zori_city.csv","pulledAt":"2026-07-29","url":"https://www.zillow.com/research/data/"},{"key":"zillow_zori_zip","name":"Zillow ZORI — ZIP market rents","release":"ZORI ZIP 2026-06","pulledAt":"2026-08-08","url":"https://www.zillow.com/research/data/"}],"history":[{"period":"2020-09-01","rent":638.928265},{"period":"2020-10-01","rent":647.978865},{"period":"2020-11-01","rent":652.906098},{"period":"2020-12-01","rent":654.095845},{"period":"2021-01-01","rent":647.297968},{"period":"2021-02-01","rent":651.922788},{"period":"2021-03-01","rent":657.67496},{"period":"2021-04-01","rent":671.159377},{"period":"2021-05-01","rent":674.937455},{"period":"2021-06-01","rent":688.031644},{"period":"2021-07-01","rent":701.585164},{"period":"2021-08-01","rent":718.520176},{"period":"2021-09-01","rent":742.573182},{"period":"2021-10-01","rent":749.123605},{"period":"2021-11-01","rent":766.227623},{"period":"2021-12-01","rent":783.112546},{"period":"2022-01-01","rent":802.406078},{"period":"2022-02-01","rent":810.423339},{"period":"2022-03-01","rent":811.627196},{"period":"2022-04-01","rent":824.283425},{"period":"2022-05-01","rent":832.792935},{"period":"2022-06-01","rent":832.912961},{"period":"2022-07-01","rent":831.904363},{"period":"2022-08-01","rent":837.012945},{"period":"2022-09-01","rent":832.604976},{"period":"2022-10-01","rent":825.681397},{"period":"2022-11-01","rent":810.222942},{"period":"2022-12-01","rent":807.897197},{"period":"2023-01-01","rent":810.581614},{"period":"2023-02-01","rent":813.576819},{"period":"2023-03-01","rent":816.546042},{"period":"2023-04-01","rent":811.752102},{"period":"2023-05-01","rent":817.599719},{"period":"2023-06-01","rent":818.405954},{"period":"2023-07-01","rent":821.516022},{"period":"2023-08-01","rent":820.063196},{"period":"2023-09-01","rent":821.407775},{"period":"2023-10-01","rent":824.520145},{"period":"2023-11-01","rent":831.803959},{"period":"2023-12-01","rent":828.998262},{"period":"2024-01-01","rent":840.572662},{"period":"2024-02-01","rent":853.23505},{"period":"2024-03-01","rent":874.513422},{"period":"2024-04-01","rent":881.583144},{"period":"2024-05-01","rent":881.69738},{"period":"2024-06-01","rent":889.84797},{"period":"2024-07-01","rent":891.303998},{"period":"2024-08-01","rent":895.928286},{"period":"2024-09-01","rent":892.798905},{"period":"2024-10-01","rent":894.110867},{"period":"2024-11-01","rent":890.060746},{"period":"2024-12-01","rent":891.71299},{"period":"2025-01-01","rent":887.13819},{"period":"2025-02-01","rent":892.395382},{"period":"2025-03-01","rent":883.589574},{"period":"2025-04-01","rent":886.322099},{"period":"2025-05-01","rent":883.8001},{"period":"2025-06-01","rent":883.018771},{"period":"2025-07-01","rent":885.529002},{"period":"2025-08-01","rent":885.926765},{"period":"2025-09-01","rent":891.632066},{"period":"2025-10-01","rent":893.491837},{"period":"2025-11-01","rent":898.012761},{"period":"2025-12-01","rent":900.089987},{"period":"2026-01-01","rent":898.069385},{"period":"2026-02-01","rent":888.137166},{"period":"2026-03-01","rent":884.646282},{"period":"2026-04-01","rent":880.541907},{"period":"2026-05-01","rent":881.138969},{"period":"2026-06-01","rent":877.578273}],"historySummary":{"pointCount":70,"firstPeriod":"2020-09-01","latestPeriod":"2026-06-01","coverageMonths":70,"coverageRatio":1,"changes":{"1":{"years":1,"startPeriod":"2025-06-01","endPeriod":"2026-06-01","startRent":883.018771,"endRent":877.578273,"change":-0.006161248411331921,"cagr":-0.006161248411331921},"3":{"years":3,"startPeriod":"2023-06-01","endPeriod":"2026-06-01","startRent":818.405954,"endRent":877.578273,"change":0.07230191656205864,"cagr":0.023542060990237035},"5":{"years":5,"startPeriod":"2021-06-01","endPeriod":"2026-06-01","startRent":688.031644,"endRent":877.578273,"change":0.2754911502297124,"cagr":0.049869912944215056}},"maxDrawdown":-0.034785301916686495,"annualizedVolatility":0.033909049300264886,"consecutiveReturnCount":69}}