Location: Ottawa 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 | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,150 | $314,547 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 74333, with a population of 1,070, is primarily a homeowner-dominated area rather than a renter-heavy zone. Only 10.4% of the residents are renters, indicating that the demand for rental properties using Section 8 vouchers is likely to be relatively low. The median household income in this area stands at $54,667, which provides a baseline for assessing the affordability of housing.
The average market rent in ZIP 74333 is $738 per month. This represents approximately 13.5% of the median household income, calculated by dividing the monthly rent by the annual income ($738 / $54,667 * 12 months). This percentage suggests that while rent is affordable for most households, it still constitutes a significant portion of their income.
In comparison to the Fair Market Rent (FMR) of $940, which is set for fiscal year 2026 in the metro area, the actual market rent of $738 is lower. This difference indicates that landlords in ZIP 74333 can potentially attract tenants who qualify for Section 8 vouchers, as the FMR is higher than the current market rate. However, due to the low percentage of renters, landlords should not expect a high volume of Section 8 applicants.
The type of tenant profile landlords in ZIP 74333 should anticipate includes individuals and families who are seeking affordable housing options. These tenants will likely have an income level below the median, making the $738 rent a more substantial expense for them. Given the homeowner-dominated nature of the area, landlords might find that their pool of potential Section 8 tenants is smaller and more selective.
To summarize, while the rents in ZIP 74333 are within the reach of those who might use Section 8 vouchers, the overall demand from renters is limited. Landlords should prepare for a niche market of tenants who value stability and affordability in their housing situation.
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.