Location: Nowata County, OK | Metro: Craig County, OK
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 | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,050 | $98,867 | 1.06% | B |
| 3BR | $1,300 | $199,064 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 74072, located in South Coffeyville, OK, represents a modest-sized rental market with a population of 1,630 individuals. Among these residents, 15.8% are renters, indicating that it is not heavily dominated by renters but still maintains a significant portion of the housing market dedicated to rentals.
The median household income in this area is $67,708, which provides insight into the financial capabilities of potential tenants. The average market rent for properties in this ZIP code is $945, representing approximately 14% of the median household income. This percentage is considered reasonable and aligns well with national standards, suggesting that most tenants can afford their rent without significant strain on their finances.
Comparing the market rent to the Fair Market Rent (FMR) set at $1,040 for FY 2026, it's evident that the actual rents are slightly below the federally established benchmark. This discrepancy can be attributed to various factors including local economic conditions and supply-demand dynamics in the rental market. Landlords should note that while the FMR serves as a guideline, actual rents may vary based on property quality, location, and amenities.
In terms of voucher demand, the percentage of renters (15.8%) suggests that while there is a presence of Section 8 vouchers, they do not dominate the rental landscape. A landlord in this area can expect a mix of tenants, some utilizing vouchers and others paying market rates. For those tenants using vouchers, the $945 market rent is well within the voucher limit, making it feasible for them to secure housing.
The typical tenant profile in this area would likely be a working individual or family who earns an income close to the median household level. They would be able to manage a rent payment of $945 without excessive difficulty, given their income. However, landlords should be prepared to handle a range of incomes and situations, as the use of vouchers indicates that some tenants may require assistance due to lower earnings.
To summarize, while ZIP 74072 is not a renter-heavy area, it does offer opportunities for landlords and small-portfolio investors. The combination of market rents being below the FMR and a moderate percentage of renters means that there is a balanced market where both voucher and market-rate tenants can find suitable housing. Landlords should expect tenants who are generally capable of meeting their financial obligations but also be ready to accommodate those requiring rental assistance through vouchers.
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.