Location: Nowata County, OK | Metro: Nowata County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
ZIP code 74027, located in Nowata County, Oklahoma, serves as an ideal cash-flow anchor within a Section 8 portfolio strategy. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940, which is significantly lower than the market rent of $1,007. This creates a positive spread that ensures steady and reliable rental income.
The median home value in ZIP 74027 is $225,037, making it an affordable market for investment properties. Landlords can secure properties at a reasonable cost while benefiting from the higher market rents. This combination allows for a solid cash flow position, as the difference between the FMR and the market rent provides a buffer against any potential decreases in market values or rents.
While there's no specific data on price-cut shares or days on market (DOM), the significant disparity between the FMR and market rent suggests that tenants seeking Section 8 housing will find ample opportunities within ZIP 74027. This further supports the notion of it being a stable cash-flow anchor rather than an appreciation play.
The 15.3% renter share indicates that a substantial portion of the population is already renting, and the median income of $48,375 aligns well with the affordability of the FMR. These factors contribute to a consistent demand for rental properties, particularly those that qualify under the Section 8 program.
In conclusion, ZIP 74027 is best suited as a cash-flow anchor due to the favorable spread between the FMR and market rent, combined with the affordability of property values and the existing rental market dynamics. This makes it a safe and predictable choice for landlords and small-portfolio investors looking to stabilize their income streams.
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.