Location: Stephens County, OK | Metro: Garvin County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,290 |
| 4 Bedrooms | $1,540 |
| 5 Bedrooms | $1,786 |
| 6 Bedrooms | $2,000 |
| 7 Bedrooms | $2,160 |
| 8 Bedrooms | $2,268 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 73434 in Stephens County, Oklahoma, reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, as set for fiscal year 2026, is $970. However, the Census ACS data indicates a market rent of $1,656. This significant disparity suggests that properties priced at the FMR may struggle to attract tenants willing to pay the actual market rate, while those priced at the market rate may exceed the FMR, leading to potential issues with government-subsidized housing programs.
Regarding the affordability of acquisition, the median home value in ZIP 73434 stands at $286,253. Unfortunately, the data does not provide insights into the average days on the market (DOM) or the percentage of homes that have had their prices cut. Without these figures, it's challenging to assess how competitive the market is for acquiring new properties. Nonetheless, the median home value offers a benchmark for investment costs.
The third question concerns tenant demand. With a total population of 574, only 12.8% of residents are renters. This low renter share implies limited demand for rental properties, which could make it difficult to find tenants, especially if the rent is set below the market rate to align with FMR guidelines.
In summary, ZIP 73434 presents a challenging environment for landlords and small-portfolio investors due to the mismatch between the FMR and market rent, suggesting that achieving a balance between profitability and eligibility for certain housing programs will be difficult. The lack of detailed acquisition data makes it hard to gauge the ease of purchasing properties, but the high median home value indicates substantial upfront investment. Lastly, the low renter share in the population suggests weak tenant demand, which could translate into longer vacancy periods and higher competition among existing rental properties. These factors collectively point to a less favorable market for rental investments.
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.