Location: Payne County, OK | Metro: Payne County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
The analysis of the Section 8 cap-rate picture for ZIP code 74076 in Oklahoma reveals some critical insights for landlords and small-portfolio investors. With the annualized Fair Market Rent (FMR) for a two-bedroom apartment set at $1,040 per month for fiscal year 2026, we can derive the implied gross yield under certain assumptions.
To calculate the gross yield, we must first estimate the annual rental income and compare it to the median home value. Given that the median home value and market rent data are currently unavailable for ZIP 74076, we must rely on the FMR figure to provide a baseline for our analysis. Assuming a 100% occupancy rate, the annual rental income would be $12,480 ($1,040 x 12 months).
The implied gross yield when using the FMR figure is calculated by dividing the annual rental income by the median home value. However, without the median home value, we cannot compute a precise gross yield percentage. Instead, we can state that if the median home value were known, the gross yield would be derived from the formula: Gross Yield = Annual Rental Income / Median Home Value.
In reality, the scenario using the FMR is likely the most practical for landlords participating in the Section 8 program. The lack of specific market rent data suggests that the FMR provides a reliable benchmark for rental rates in the area. Furthermore, the absence of renter density and Days on Market (DOM) figures implies that the local housing market's specifics are unclear, making the FMR a safer and more predictable option for setting rental prices.
Investors should note that while the FMR offers a stable rental income, it does not account for potential fluctuations in the broader housing market. Therefore, the actual gross yield could vary depending on the median home value in the area, which is essential for determining the overall profitability of a property in ZIP 74076.
Given the limited data available, the FMR-based gross yield serves as a conservative estimate for the potential returns on investment properties in ZIP 74076. Landlords and investors should conduct further research to obtain the median home value and other relevant metrics to refine their investment decisions.
Data Sources: FMR data from HUD (2027).
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.