Location: Payne County, OK | Metro: Lincoln County, OK HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $750 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $81,427 | 1.13% | B |
| 3BR | $1,270 | $169,768 | 0.75% | D |
| 4BR | $1,340 | $323,496 | 0.41% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 74023, Cushing, OK, reveals a unique interplay between home values and rental dynamics that could significantly influence pricing power over the next 12-24 months. With a median home value of $141,184, the market appears stable, but the fact that only 0.3% of listings have reduced their asking price suggests a resilient seller's market. This minor reduction percentage indicates that homeowners are holding firm on their prices, likely due to low inventory levels and steady demand.
The median days on market (DOM) being listed as N/A could imply either extremely rapid sales or an anomaly in the data reporting. In either case, it supports the notion of a strong seller's market where homes are moving quickly once they hit the market, further bolstering sellers' confidence in maintaining higher prices.
On the rental side, the Federal Market Rent (FMR) for ZIP 74023 in fiscal year 2024 is projected at $960, compared to the current market rate of $787 according to the Census ACS. This gap signals potential upward pressure on rental rates, aligning with the broader trend of increasing rental costs in many parts of the country. Landlords and small-portfolio investors should prepare for a scenario where rental prices are likely to rise, making properties more attractive as income-generating assets.
For long-term investors, the setup in Cushing, OK, implies a moderate appreciation thesis. The stable home values coupled with the potential increase in rental rates suggest that while rapid capital appreciation might not be imminent, there is a solid foundation for gradual growth. This environment is particularly favorable for those looking to hold properties for extended periods, as it provides a steady income stream through rentals and gradual equity build-up.
In summary, the combination of a stable median home value, minimal listing reductions, and a potential increase in rental rates points to a market where pricing power remains firmly with the sellers. Long-term investors can expect a realistic appreciation scenario, driven by both property value stability and rising rental incomes.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.