Location: Stephens County, OK | Metro: Jefferson County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The market in ZIP code 73442 presents a dynamic scenario that reflects both current conditions and underlying trends. The Fair Market Rent (FMR) for the area, set at $950 for fiscal year 2026, indicates a level that is higher than the actual market rent of $767, as reported by the Census Bureau's American Community Survey (ACS). This suggests that while the rental market is currently stable, it might be underpriced relative to what the government deems fair for the region.
A median home value of $170,294 points towards an affordable housing market, which could attract first-time buyers and those looking to relocate. However, without historical data on price cuts and days on market (DOM), we cannot definitively state whether supply is currently outpacing demand or vice versa. The snapshot provides a glimpse into the current state but lacks the longitudinal perspective needed to draw firm conclusions about supply and demand dynamics.
The 14.7% renter share in ZIP 73442 is noteworthy. This percentage suggests that a significant portion of the population prefers renting over owning, which can create long-term housing pressure. Landlords and small-portfolio investors should consider this trend as it implies a steady demand for rental properties. However, it also means that any increase in rental rates must be carefully managed to avoid pushing potential renters into homeownership, which could then reduce the rental pool.
In summary, ZIP 73442 offers a mix of affordability and stability in its rental market. The gap between the FMR and market rent signals a potential upward trajectory in rental prices, aligning with the government's fair market assessment. The high renter share highlights a persistent demand for rentals, indicating that the area may continue to favor landlords who manage their properties effectively and competitively.
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.