Location: Delaware County, OK | Metro: Cherokee County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,240 |
| 5 Bedrooms | $1,438 |
| 6 Bedrooms | $1,611 |
| 7 Bedrooms | $1,740 |
| 8 Bedrooms | $1,827 |
U.S. Census Bureau data (2024)
28.2% of residents in ZIP code 74359 are renters, indicating a significant portion of the population relies on rental housing. This statistic is crucial for landlords and small-portfolio investors looking to understand the local demand. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $940, which serves as a benchmark for rental pricing in the area. In comparison, the market rent based on Census ACS data stands at $800, suggesting that rental properties priced at or below the FMR could attract more tenants.
$45,625 is the median income for ZIP code 74359, which is important when assessing the financial capability of potential tenants. However, it's worth noting that there is no data available on the median home value, indicating a possible lack of homeownership opportunities or data reporting issues. Similarly, the days on market (DOM) and the percentage of price-cut shares are not provided, which might imply that the rental market is relatively stable without significant fluctuations in pricing or long periods of vacancy.
For landlords and investors considering the Section 8 program, the $940 FMR offers a clear guideline. Properties renting at or below this amount can potentially qualify for Section 8, providing a steady stream of income regardless of market conditions. Given the $800 market rent and the 28.2% renter share, the demand for affordable housing seems to be met, but there remains room for properties priced closer to the FMR.
The absence of specific data points such as median home value and DOM can be seen as an opportunity for investors to conduct further research to fill these gaps. Understanding the local rental dynamics, including how close market rents are to the FMR, can help in making informed decisions about property investments and management strategies.
In conclusion, the Section 8 program presents a viable option for landlords and small-portfolio investors in ZIP code 74359, given the established FMR and the significant renter share. Properties priced at or below $940 can effectively participate in this program, ensuring a reliable tenant base and income stability. Verdict: Section 8 is a solid investment strategy in ZIP 74359.
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.