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 | $143,081 | 0.64% | D |
| 3BR | $1,220 | $219,852 | 0.55% | F |
| 4BR | $1,270 | $279,015 | 0.46% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 74352, located in Locust Grove, Oklahoma, within Mayes County, can be straightforward when you understand how the system works. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for fiscal year 2024 is set at $910. This SAFMR specifically applies to this ZIP code, ensuring that the rental assistance reflects the local cost of living.
However, the local market rent, according to the Census ACS data, averages $633 for a similar unit. When a tenant uses a Section 8 voucher, they pay a portion of their income toward rent, typically around 30%. The government then covers the difference up to the SAFMR limit of $910.
To illustrate, if a tenant's portion of the rent is $300, the government would reimburse the landlord for the remaining amount up to the SAFMR. In this case, the reimbursement would be $610 ($910 - $300). Additionally, the voucher includes utility allowances, which vary but are often around $200 per month for a two-bedroom apartment. Thus, the total reimbursement to the landlord would be $810 ($610 in rent plus $200 in utilities).
This means that even though the SAFMR is $910, the actual reimbursement to the landlord will not exceed the sum of the tenant’s contribution and the utility allowance. If the market rent is lower than the SAFMR, the landlord will still receive the full market rent, plus any applicable utility allowance, up to the SAFMR limit.
In ZIP 74352, where the average market rent is $633, landlords participating in the Section 8 program for a two-bedroom apartment will receive a surplus of $177 per month ($810 - $633). This surplus is due to the higher SAFMR compared to the local market rent. It’s important for landlords to know that this economic model ensures they are paid the market rate, and sometimes slightly above it, depending on the utility allowances and tenant contributions.
In summary, for a two-bedroom apartment in ZIP 74352, the typical reimbursement gap is a surplus of $177 per month, making Section 8 a financially viable option for landlords in this area.
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.