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 | $700 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $710 | $87,599 | 0.81% | C |
| 2BR | $930 | $115,070 | 0.81% | C |
| 3BR | $1,160 | $220,298 | 0.53% | F |
| 4BR | $1,420 | $325,003 | 0.44% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 74301, which encompasses Vinita, OK, and parts of Craig and Nowata Counties, presents a clear opportunity for investors. The HUD Fair Market Rent (FMR) for the area is set at $990 for fiscal year 2026, which is notably higher than the market rent of $827 as reported by the Census Bureau's American Community Survey. This indicates that voucher tenants can indeed provide positive cash flow, albeit marginally, without requiring premium units.
To further analyze the investment potential, consider the median home value in the area, which stands at $189,824. With an FMR of $990, the rent-to-price ratio is approximately 0.0052, or 0.52%. This suggests that rental income represents a small percentage of the total property value, making it a stable but not highly lucrative investment purely from a rental income perspective. However, the low days on market (DOM) and minimal price-cutting activity—both of which are reported as N/A and 0.2%, respectively—indicate strong demand for both rentals and purchases, supporting the stability of the market.
The strongest angle for Section 8 investors in ZIP 74301 is likely to be stability. Given the robust demand and limited need for price adjustments, investors can expect consistent occupancy rates and steady cash flows, even if the margins are slim. This makes the area particularly attractive for those seeking reliable long-term investments over high short-term returns.
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.