Location: Johnston County, OK | Metro: Atoka County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The ZIP code 73432 is situated in a small, close-knit neighborhood characterized by a modest population of 862 residents. This area is predominantly owner-occupied, with only 24.3% of the households being renters. The median household income in ZIP 73432 stands at $61,250, reflecting a middle-class community. Median home values in the region are notably high at $257,965, indicating a stable and somewhat affluent residential environment.
When it comes to rental economics, the Fair Market Rent (FMR) for ZIP 73432, set by HUD for metro areas in fiscal year 2026, is $950. In contrast, the actual market rent based on Census ACS data is lower at $843. This discrepancy suggests that there is a potential for landlords to either increase rents slightly towards the FMR level or benefit from the current lower market rates while still being within the federally determined fair market range.
Given these conditions, ZIP 73432 could be suitable for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the relatively low percentage of renters and the existing market rents below the FMR provide a stable environment where Section 8 vouchers can cover most of the rental costs without significant risk. However, for value-add buyers who are willing to invest in property improvements, there is an opportunity to justify higher rents closer to the FMR, thereby increasing the profitability of their investment. Both strategies have merit depending on the landlord's or investor's goals and willingness to engage actively in property management.
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.