Location: Alfalfa County, OK | Metro: Alfalfa County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
U.S. Census Bureau data (2024)
The ZIP code 73749 stands out due to its unique demographic and economic characteristics. With only 400 residents, it has a rental rate of 24.9%, indicating that a significant portion of the population owns their homes. The median income here is $55,791, which is relatively balanced compared to the median home value of $51,424. This suggests that homeownership is attainable for many residents, yet there remains a notable segment of renters.
Turning to the voucher economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $950. In contrast, the actual market rent, as reported by the Census ACS, is much lower at $489. This discrepancy highlights a potential opportunity for landlords who accept Section 8 vouchers, as they can receive higher rents than the local market average. However, it also implies that there might be challenges in finding enough tenants willing to pay the higher voucher rates when local market rents are significantly lower.
Based on the available data, ZIP 73749 presents a stable environment. The median income is sufficient to support both homeownership and rental markets, and while the voucher rates exceed the market rent, this does not necessarily indicate instability. Instead, it points to a scenario where landlords could benefit financially from accepting Section 8 vouchers, despite the local rental market being less expensive. This stability allows for predictable investment outcomes for small-portfolio investors looking to enter the ZIP code's real estate market.
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.