Location: Carter County, OK | Metro: Carter County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 73487 presents a complex interplay of factors that influence both buying and renting dynamics. With the median home value currently unspecified, it's crucial to consider other indicators such as the percentage of listings that have been reduced and the median days on market (DOM), which are also not provided. However, the absence of these figures suggests a lack of recent comprehensive data, indicating that pricing power and market trends might be less predictable.
On the rental side, the Federal Market Rent (FMR) for ZIP 73487 is set at $1,000 for fiscal year 2026, while the current market rent stands at $788 according to the Census ACS. This discrepancy between the FMR and the actual market rent signals an opportunity for long-term investors. Landlords can anticipate a gradual increase in rental rates as the market adjusts towards the FMR, which is a benchmark often used in housing assistance programs and reflects the average market rent for a standard unit.
The setup implies that long-hold investors should expect a modest appreciation in property values over the next 12-24 months, driven by the potential rise in rental incomes. As rental prices inch closer to the FMR, the demand for rental properties could strengthen, leading to higher occupancy rates and potentially justifying slight increases in asking rents. This, in turn, supports the argument that property values will follow suit, albeit at a conservative pace due to the current uncertainty around the median home value and DOM.
However, the lack of detailed data on home values and DOM means that any significant shifts in the market could impact pricing power. Investors must remain vigilant and adapt their strategies based on emerging trends and data. The current scenario suggests a balanced approach where landlords and investors should focus on maintaining competitive rental rates and keeping an eye on the overall economic conditions affecting ZIP 73487.
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.