Location: Woods County, OK | Metro: Woods County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The analysis of the Section 8 cap rate for ZIP code 73731 reveals a challenging investment landscape due to limited market data. For the Fiscal Year 2026, the Fair Market Rent (FMR) for a two-bedroom property in the metropolitan area is set at $980 per month. This translates into an annual rental income of $11,760.
To derive the gross yield, we need to consider the median home value in ZIP 73731. However, the median home value is currently not available, which complicates the calculation of a precise gross yield. Assuming the median home value were known, the gross yield would be calculated as the annual rental income divided by the median home value. For instance, if the median home value were $200,000, the gross yield would be 5.88%. But since the median home value is not available, we cannot provide a specific gross yield figure for this scenario.
In the absence of market rent data, we can only work with the Section 8 FMR. The annualized FMR of $11,760 implies a lower gross yield compared to what might be achieved with market rents, should they exceed the FMR. The lack of market rent data suggests that the rental market in ZIP 73731 may be less competitive or less documented, making it difficult to compare the FMR with prevailing market rates.
The renter density in ZIP 73731 stands at 20.8%, indicating that a significant portion of the population does not rent, possibly skewing the demand for rental properties. Additionally, the Days on Market (DOM) data is also not available, which would have helped in understanding how quickly rental properties are leased in this area. Without this information, it's challenging to gauge the speed of turnover and the potential for consistent cash flow.
Given the constraints of the available data, the Section 8 FMR provides a reliable benchmark for rental income. However, the lack of median home value and market rent data means that investors must rely on other local indicators to estimate the gross yield accurately. The FMR-based gross yield is the most concrete figure we can provide, and it serves as a conservative baseline for investment considerations in ZIP 73731.
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.