Location: Ottawa County, OK | Metro: Ottawa County, OK
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 | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $121,942 | 0.75% | D |
| 3BR | $1,150 | $200,891 | 0.57% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 74363 within the Ottawa County, OK metro area reveals several key points regarding its viability for real estate investment, particularly for those interested in Section 8 housing.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area, set at $940 for fiscal year 2026, exceeds the current market rent of $761 as reported by the Census ACS. This indicates that the rent levels for Section 8 properties could be higher than the general market, potentially offering a financial advantage to landlords who can secure these tenants.
Secondly, the acquisition cost of homes must be considered. With a median home value of $180,893, the purchase price in ZIP 74363 is relatively stable and affordable. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local real estate market might not be as liquid or competitive as other areas, which could affect the ease of acquiring new properties.
Lastly, the tenant demand must be evaluated. The ZIP code has a population of 2,492, with 23.4% of residents being renters. This means there are approximately 583 potential rental households, indicating a moderate level of demand for rental properties. Given the specifics of the Section 8 program, the number of eligible low-income tenants will be critical to assess further.
In conclusion, ZIP 74363 presents an opportunity for landlords and small-portfolio investors interested in Section 8 housing due to the favorable rent math. Despite the median home value being affordable, the absence of data on DOM and price-cut shares leaves some uncertainty about the local real estate market's liquidity. Tenant demand is moderate but requires a deeper dive into the number of Section 8-eligible individuals to ensure a sustainable stream of potential tenants. Overall, the area shows promise but warrants additional research into local rental dynamics and program participation rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.