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 | $760 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $980 | $129,056 | 0.76% | D |
| 3BR | $1,300 | $226,924 | 0.57% | F |
| 4BR | $1,350 | $344,811 | 0.39% | F |
U.S. Census Bureau data (2024)
In Pryor, Oklahoma (ZIP 74361), the real estate market presents a unique opportunity for landlords and small-portfolio investors. The median home value stands at $214,907, indicating a stable housing market where property values have remained consistent. This stability is further reinforced by the fact that only 0.2% of listings have seen reductions in price, suggesting that sellers are holding firm on their asking prices and buyers are willing to meet those levels. Additionally, the median Days on Market (DOM) is 46 days, which is relatively low and suggests a brisk pace of sales once homes are listed.
The combination of these factors—median home value, minimal price reductions, and quick sales—implies that landlords and investors can maintain strong pricing power over the next 12 to 24 months. Homeowners are unlikely to be motivated to sell at a discount, and the market's absorption rate indicates that there is sufficient demand to support rental prices without significant pressure to reduce them.
On the rental side, the Fair Market Rent (FMR) for ZIP 74361 is projected to be $1,010 for fiscal year 2024, while the current market rent, as measured by Zillow’s ZORI index, is $1,000. This slight upward trend in rental rates supports the idea that landlords can continue to adjust rents modestly upwards to align with the FMR, thereby maintaining positive cash flow and potentially increasing returns on investment.
For long-hold investors, the realistic appreciation thesis is tied to the overall economic health of Pryor and the broader region. With the current stability in home values and minimal downward pressure, it is reasonable to expect that property values will appreciate gradually, following the natural growth patterns of the local economy. However, the pace of appreciation is likely to be moderate, given the limited number of price reductions and the steady DOM figures, which indicate a balanced market rather than one experiencing rapid growth or decline.
To summarize, the data points to a market where landlords and investors can confidently maintain current pricing levels and gradually increase rental rates. Property values are expected to appreciate moderately, providing a solid foundation for long-term investments. The setup implies a favorable environment for those looking to hold properties for extended periods, with the potential for steady returns and gradual capital appreciation.
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.