Location: Mayes County, OK | Metro: Tulsa, OK HUD Metro FMR Area
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 | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $137,129 | 0.67% | D |
| 3BR | $1,220 | $228,110 | 0.53% | F |
| 4BR | $1,270 | $300,294 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 74337, located in Chouteau, OK, stands out within Mayes County due to its unique data profile. With a total population of 5,109, it has a relatively low percentage of renters at 19.6%, indicating that homeownership is more prevalent than in many other areas. The median income in this ZIP is $66,934, which is above the national average, suggesting a financially stable community. The median home value of $208,413 further supports this notion, placing it in a comfortable range for the region.
Turning to the economics of Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 74337 in fiscal year 2024 is set at $950. This figure contrasts sharply with the actual market rent, which according to the Census Bureau's American Community Survey (ACS), averages around $776. This difference implies that landlords in Chouteau can potentially receive higher rents through Section 8 vouchers compared to the local market rates. However, it also suggests that there might be a limited number of tenants who qualify for these higher voucher amounts, given the relatively lower market rents.
Evaluating the overall data signature of ZIP 74337, it appears to be stable rather than transitional. The high median home value and median income indicate a mature housing market where long-term homeownership is common. The low rental rate suggests that the area is not experiencing rapid population growth or change, which would typically lead to an increase in rental properties. While the disparity between FMR and market rent presents opportunities for landlords participating in the Section 8 program, the general economic indicators point towards a community that is firmly established and unlikely to undergo significant shifts in the near future.
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.