Location: Mayes County, OK | Metro: Craig County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,340 |
| 4 Bedrooms | $1,370 |
| 5 Bedrooms | $1,589 |
| 6 Bedrooms | $1,780 |
| 7 Bedrooms | $1,922 |
| 8 Bedrooms | $2,018 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 74349, located in Mayes County, Oklahoma, reveals several key points that are crucial for landlords and small-portfolio investors.
First, regarding the rent math, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,020. However, the current market rent, according to the Census ACS, stands at $863. This means that landlords would need to ensure their properties meet the standards required for the higher FMR rate or risk losing out on potential subsidies if they charge below the FMR.
Second, the acquisition affordability in this ZIP code is challenging due to limited data. The median home value is listed as N/A, indicating either insufficient data or a lack of recent sales activity. Similarly, the days on market (DOM) and percentage of homes that have been price-cut are also marked as N/A, suggesting that making an informed decision about property purchase prices and timing might be difficult without further investigation into local real estate trends.
Third, there is a notable tenant demand in ZIP 74349. With a population of 941, 20.1% of residents are renters. This translates to approximately 190 rental units being occupied by tenants, which could support a modest rental portfolio.
Verdict: The rent math in ZIP 74349 does not currently favor landlords looking to maximize market rent, given the discrepancy between the FMR and actual market rates. Acquisition is challenging due to incomplete data on home values and sales trends, but there is a solid base of tenant demand. For those willing to navigate the uncertainties and align their rents with the FMR, this ZIP code presents a viable opportunity for rental investments, particularly for those interested in smaller, manageable portfolios.
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.