Location: Payne County, OK | Metro: Payne County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $910 |
| 2 Bedrooms | $1,110 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
The ZIP code 74078 has a population of 451, but specific percentages for renters and homeowners are not available. The median household income is also unspecified, making it challenging to draw direct comparisons between income levels and rental costs.
Without precise data on the percentage of renters and the median market rent, it's difficult to definitively categorize 74078 as either a renter-heavy ZIP with deep voucher demand or a homeowner-dominated area where vouchers are scarce. However, given the limited population size, it suggests that the rental market might be relatively small, which could impact the availability and usage of Section 8 vouchers.
To connect income levels to market rents, we would need more detailed financial information about the average household income and the typical rent in the area. This would allow us to calculate what percentage of local income goes towards rent. In the absence of such data, we can only rely on the Fair Market Rent (FMR) provided, which stands at $1,130 for FY 2026 in the metro area. This figure represents the maximum amount that a Section 8 voucher holder can pay for rent in the area.
A landlord in ZIP 74078 should expect tenants who are likely to be heavily reliant on government assistance due to the low FMR. These tenants will have strict budget constraints and will require properties that meet the housing quality standards set by the Housing Choice Voucher program. Landlords must be prepared to work closely with the local housing authority to ensure compliance with the program requirements.
Given the scarcity of specific data points, prudent landlords should conduct further research into the local rental market dynamics and the actual number of active Section 8 vouchers in circulation. This will provide a clearer picture of the demand for subsidized housing and help tailor their investment strategies accordingly.
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.