Section 8 Fair Market Rent (FMR) for ZIP 74061 - 2027

Location: Washington County, OK | Metro: Tulsa, OK HUD Metro FMR Area

Investment Score for ZIP 74061

N/A

Monthly Rent (2BR)

$1,000

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$850
2 Bedrooms	$1,000
3 Bedrooms	$1,360
4 Bedrooms	$1,370
5 Bedrooms	$1,589
6 Bedrooms	$1,780
7 Bedrooms	$1,922
8 Bedrooms	$2,018

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,360	$267,896	0.51%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,245

Median Household Income

$58,929

Housing Units

920

Renter Percentage

16.8%

Occupancy Rate

86.7%

Renter Occupied

134

The ZIP code 74061, located in the heart of rural Oklahoma, offers a stable yet modest real estate market for both landlords and small-portfolio investors. The area's economy is primarily driven by agriculture and small-scale industries, which contributes to a steady but not booming rental market.

The Fair Market Rent (FMR) for ZIP 74061 in fiscal year 2024 is set at $980, providing a benchmark for rental pricing in the area.
The actual market rent, according to Census ACS data, is currently $794, indicating that the area's rents are below the FMR, leaving room for potential increases.
The median home value in the area stands at $272,938, making it a relatively affordable market for investment properties.
Renters make up 16.8% of the housing stock, suggesting a moderate demand for rental properties.
The median income in ZIP 74061 is $58,929, which aligns with the average rental costs, ensuring that tenants can afford the current rent levels.
Due to the lack of recent sales data, the days on market (DOM) is listed as N/A, but given the stable nature of the local economy, it is likely that rental properties turn over predictably without extended vacancies.

Investors should note that while the ZIP code 74061 does not offer high rental yields, the stability of the local economy and the affordability of property values provide a solid foundation for long-term investments. The gap between the market rent and the FMR suggests that there is potential for increasing rental rates gradually over time. Additionally, the median income level supports the current rental prices, reducing the risk of default. Overall, the area is best suited for investors looking for consistent returns rather than rapid appreciation or high rental incomes.

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.