Section 8 Fair Market Rent (FMR) for ZIP 73140 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 73140, located in Okmulgee County, Oklahoma, encompasses parts of the city of Okmulgee and surrounding rural areas. This region offers a mix of urban amenities and rural living, making it attractive for both residents and investors. The primary focus for real estate investors here should be on rental properties, given the lack of available data on home values and other key metrics.

• The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 73140 for fiscal year 2024 is set at $1080.
• The market rent for the area is currently not available, indicating that there may be limited data or activity in this sector.
• The median home value in ZIP 73140 is not available, suggesting a smaller or less active housing market compared to larger metropolitan areas.
• The percentage of renters in the area is not available, which means we cannot provide a precise figure for the share of the population that prefers renting over owning.
• The days on market (DOM) for listings in ZIP 73140 is not available, implying that there may be fewer transactions or a less competitive real estate market.
• The median household income for the area is also not available, which is crucial for understanding the economic health and potential demand for rental properties.

Given the scarcity of detailed real estate data for ZIP 73140, the most reliable metric for investment consideration is the Fair Market Rent, which stands at $1080 for a two-bedroom unit. This suggests that rental properties could be a stable investment, particularly if they are priced close to or slightly below the FMR. However, without comprehensive data on home values, renter demographics, and transaction speeds, investors must proceed with caution, focusing on thorough local research and possibly considering a conservative approach to pricing and property management. The lack of median income data makes it difficult to gauge the overall financial stability of the area's residents, which is important for long-term rental success. Despite these limitations, the known FMR provides a solid benchmark for setting rental prices and assessing the viability of rental investments in this area.

Data Sources: FMR data from HUD (2027).

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.