Location: Ottawa County, OK | Metro: Ottawa 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $55,610 | 1.65% | A+ |
| 3BR | $1,150 | $103,064 | 1.12% | B |
U.S. Census Bureau data (2024)
The real estate market in ZIP code 74339, Commerce, OK, presents a unique scenario for both landlords and small-portfolio investors. With a median home value of $68,969, the area is significantly undervalued compared to national averages, which can be advantageous for those looking to acquire properties at a lower cost. However, the lack of data on the percentage of listings that have been reduced and the median days on market (DOM) suggests a less active market, implying that there might be fewer opportunities for rapid price adjustments.
On the rental side, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $940, whereas the current market rent stands at $692 according to the Census American Community Survey. This gap indicates a potential increase in rental income as the market aligns with federal projections. Investors should consider this trend when evaluating the cash flow potential of their properties.
The setup in ZIP 74339 implies that for long-hold investors, the appreciation thesis is anchored in the expectation that property values will rise towards the national average, driven by an increase in demand as the area becomes more attractive due to its low entry costs and improving rental market. The disparity between the median home value and the projected FMR suggests that there is room for growth in property values, making it a potentially lucrative investment opportunity for those willing to hold onto their assets for the long term.
Investors should also be aware that the current market conditions may mean slower growth initially, but the fundamentals support gradual appreciation. As the rental market strengthens and more individuals recognize the affordability of the housing market, the overall value of properties in the area is likely to improve, leading to higher equity positions over time.
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.