Location: Alfalfa County, OK | Metro: Alfalfa County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,290 |
| 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 market in ZIP code 73722 is currently characterized by a strong foundation in median home values, sitting at $218,299. This figure provides a clear snapshot of the local property valuation, indicative of the area's overall economic stability. However, the absence of specific data on market rent and days on market (DOM) limits a comprehensive assessment of rental market dynamics.
A notable aspect of this market is the Fair Market Rent (FMR) set at $980 for the fiscal year 2026. While this represents a benchmark for affordable housing standards, it does not directly indicate whether supply outpaces demand or vice versa without additional context on vacancy rates or the number of units available for rent.
The 17.5% renter share is a critical metric that suggests a moderate level of long-term housing pressure. In areas where the renter share is high, there often exists a persistent demand for rental properties, which can be a sign of limited homeownership opportunities or a preference for renting. Conversely, a lower renter share might imply that homeownership is more accessible or favored among residents. In ZIP 73722, the 17.5% figure points towards a balanced market, neither heavily skewed towards renters nor homeowners, but it also implies that a significant portion of the population may still face challenges in transitioning to homeownership.
Without time-series data, it's challenging to definitively state the direction of the market's trajectory. However, the presence of an FMR indicates a focus on ensuring affordability for low-income households, suggesting a potential underlying concern regarding housing costs. The lack of recent market rent data could imply either a stable rental market or an underreported segment, both of which have implications for landlords and small-portfolio investors looking to navigate the area effectively.
In summary, ZIP 73722 presents a market with established property values and a moderate renter population. The dynamics suggest a need for balance between rental and homeownership options, with ongoing efforts to maintain affordability for all residents. For investors, understanding these nuances is key to making informed decisions.
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.