Location: Ottawa County, OK | Metro: Delaware 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 | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,320 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $212,760 | 0.48% | F |
| 3BR | $1,320 | $310,028 | 0.43% | F |
| 4BR | $1,370 | $497,615 | 0.28% | F |
| 5BR | $1,589 | $798,647 | 0.2% | F |
U.S. Census Bureau data (2024)
The real estate market in Grove, OK (ZIP 74344) presents a nuanced scenario for both landlords and small-portfolio investors. With a median home value at $291,982, the area is relatively affordable compared to other metropolitan regions. However, the fact that only 0.2% of listings have been reduced in price suggests a strong seller's market, indicating that homes are holding their value well. This is further supported by the median days on market (DOM) being at 75 days, which is a reasonable period suggesting that homes are selling without significant delays.
For investors focused on rental income, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is projected to be $980. Currently, the market rent stands at $950, based on Census ACS data. The slight upward pressure on rents signals potential for modest growth in rental yields. Landlords can expect to maintain or slightly increase their rental income in line with the projected FMR, provided they manage their properties effectively and keep them competitive in terms of amenities and condition.
The setup implied by these figures suggests that long-hold investors in Grove, OK, can anticipate a steady appreciation in property values, driven by the robust seller's market and stable DOM metrics. While the appreciation rate is not expected to be explosive, it should provide a reliable return on investment, aligning with the conservative nature of long-term holdings. The combination of a strong housing market and modest rental growth creates an environment where property owners can expect their investments to remain stable and gradually increase in value over the next 12 to 24 months.
Investors should consider the following:
In conclusion, the market conditions in Grove, OK, point towards a favorable setup for those looking to invest in real estate, particularly for those interested in rental income and gradual property value appreciation. The combination of these factors provides a solid foundation for investment decisions in the area.
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.