Section 8 Fair Market Rent (FMR) for ZIP 74346 - 2027

Location: Delaware County, OK | Metro: Delaware County, OK

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$720
1 Bedroom	$730
2 Bedrooms	$920
3 Bedrooms	$1,180
4 Bedrooms	$1,230
5 Bedrooms	$1,427
6 Bedrooms	$1,598
7 Bedrooms	$1,726
8 Bedrooms	$1,812

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

8,266

Median Household Income

$49,556

Housing Units

3,762

Renter Percentage

25.0%

Occupancy Rate

77.7%

Renter Occupied

732

Based on the available data, ZIP 74346 (Jay, OK) serves as a diversifier within a Section 8 portfolio strategy. The median income of $49,556 supports a 25.0% renter share, indicating a stable demand for rental properties. With a median home value of $233,333, Jay, OK, presents opportunities for landlords and small-portfolio investors seeking to balance their investment mix.

The primary reason to include ZIP 74346 in a Section 8 portfolio is its cash flow potential. The Fair Market Rent (FMR) for the Delaware County, OK metro area in fiscal year 2026 is set at $940, while the market rent stands at $821. This creates a spread of $119, allowing landlords to potentially earn above-market rents through Section 8 contracts.

Cash Flow Anchor: Not applicable due to the relatively low spread between FMR and market rent.
Appreciation Play: Not suitable given the 0.2% price-cut share and N/A-day days on market (DOM).
Diversifier: Ideal for adding stability and broadening the geographic scope of a portfolio.

In conclusion, ZIP 74346 provides a solid foundation for diversification within a Section 8 portfolio. Its moderate spread between FMR and market rent, coupled with a significant renter share and median income levels, ensures steady cash flow and reduces overall risk. However, appreciation potential is limited, making it more suited for those looking to stabilize their investments rather than chase rapid growth.

Data Sources: FMR data from HUD (2027). 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.