Section 8 Fair Market Rent (FMR) for ZIP 74005 - 2027

FY 2027 Fair Market Rent Rates

The rental market in ZIP code 74005, located in Oklahoma, presents a dynamic scenario that landlords and small-portfolio investors should consider closely. The Fair Market Rent (FMR) for the area, as set by HUD for fiscal year 2026, is $950. This figure serves as a benchmark for rental prices in the area, indicating what the government deems as a fair rent for a moderate-quality dwelling.

A notable absence in the data is the current market rent for the area, which is listed as N/A. This suggests that there might be limited data available on recent rental transactions, potentially due to low activity or a lack of reporting mechanisms. However, the fact that HUD has established an FMR implies that there is enough historical data to determine a reasonable rent level for the area.

The N/A% price-cut share and N/A-day Days on Market (DOM) indicate that there isn't sufficient data to assess how frequently properties are being discounted or the average duration they remain on the market before being rented. These metrics are crucial for understanding whether the supply of rental units is outpacing demand or vice versa. In the absence of these figures, it's challenging to draw definitive conclusions about the balance between supply and demand in the rental market of ZIP 74005.

Similarly, the N/A median home value suggests that there is limited information on the typical cost of homes in the area. This could mean that the housing market is either very diverse, with significant variations in property values, or that there simply isn't enough data to provide a reliable median.

The N/A% renter share highlights another aspect of the ZIP code's housing landscape. While we cannot quantify the exact percentage of renters, the presence of this metric being unreported points to an uncertainty regarding the proportion of renters versus homeowners. This ambiguity can impact long-term housing pressures, as areas with higher renter shares often experience greater volatility in rental demand, influenced by factors such as job market changes and economic shifts.

In summary, ZIP 74005 is characterized by a defined FMR but lacks current market data that would provide a clearer picture of the rental market's health and trajectory. Landlords and investors must proceed with caution, using the FMR as a guide while remaining aware of the potential for fluctuating demand and supply dynamics. The incomplete data suggests a market that is evolving and requires close monitoring to understand its true nature.

Data Sources: FMR data from HUD (2027).

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.