Location: Pawnee County, OK | Metro: Tulsa, 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 | $810 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $172,572 | 0.61% | D |
| 3BR | $1,370 | $227,552 | 0.6% | D |
| 4BR | $1,610 | $313,745 | 0.51% | F |
U.S. Census Bureau data (2024)
ZIP 74044, located in Pawnee County, OK, represents an ideal diversifier within a Section 8 portfolio strategy. The area's median home value stands at $219,928, with a significant spread between the Fair Market Rent (FMR) of $1020 and the market rent of $859 for FY 2024. This gap highlights the potential for rental income above the HUD-subsidized rate, which can be advantageous for landlords.
The renter share in ZIP 74044 is 19.1%, indicating a moderate demand for rentals. This percentage suggests that there is a stable tenant base, but it also implies that a portion of the population owns their homes. The median household income of $67,841 provides insight into the economic stability of the area, supporting the viability of rental properties.
A key factor in considering ZIP 74044 as a diversifier is the low price-cut share of 0.3%. This statistic reflects that property values are relatively stable, with few sellers needing to reduce their asking prices. Additionally, the N/A-day Days on Market (DOM) indicates that when properties do come up for sale, they are typically sold quickly without extended periods of vacancy.
Incorporating ZIP 74044 into a Section 8 portfolio allows investors to balance risk and reward. While it may not offer the highest appreciation potential due to the low price-cut share, the stable property values and moderate renter share make it a reliable component of a diversified investment strategy. Landlords can leverage the higher FMR compared to the market rent to ensure positive cash flow, while the economic indicators suggest a sustainable tenant population.
To summarize: ZIP 74044 should be considered a diversifier in a Section 8 portfolio strategy. With a 19.1% renter share and a median income of $67,841, the area supports steady rental demand. The spread between the FMR ($1020) and market rent ($859) ensures a positive cash flow, making it a valuable addition to any investment mix.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.