Location: Johnston County, OK | Metro: Johnston County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $780 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,350 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The rent math in ZIP code 73450, located within the Johnston County, OK metro area, is favorable but requires careful consideration. The Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $950, while the market rent as per the Census ACS data stands at $986. This indicates that landlords can charge slightly above the FMR, which leaves a margin for covering costs and generating profit.
Regarding acquisition affordability, the median home value in ZIP 73450 is $207,601. With no available data on days on market (DOM) or the percentage of homes that required a price cut, it's challenging to assess how competitive the real estate market is for sellers. However, the median home value suggests that properties are within a reasonable range for acquisition, especially for those looking to enter the rental market without excessive capital investment.
Tenant demand in ZIP 73450 is modest given its population size of 1,562, with only 14.4% being renters. This relatively low renter share implies a smaller pool of potential tenants, which could affect occupancy rates and the speed at which units are filled. Landlords must be prepared to compete effectively with other rental properties to attract and retain tenants.
In summary, the rent math in ZIP 73450 supports profitable operations, albeit with a narrow margin. Acquisition appears affordable based on the median home value, though deeper insights into market dynamics would be beneficial. Tenant demand is limited due to the small population and low renter share, necessitating strategic marketing and management practices to ensure steady occupancy. For small-portfolio investors, this area offers an opportunity with caveats around tenant competition and possibly slower turnover times.
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.