Location: Mayes County, OK | Metro: Delaware 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 | $720 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,210 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $111,086 | 0.83% | C |
| 3BR | $1,210 | $209,322 | 0.58% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $940 for the metro area in fiscal year 2026, landlords in ZIP code 74366, Spavinaw, OK, have an opportunity to align their rental prices with government standards. This figure is notably higher than the $786 market rent reported by the Census ACS, indicating a potential gap where Section 8 vouchers can subsidize the difference. The median home value stands at $161,314, providing a stable base for property investments. With 20.1% of residents being renters, there is a substantial portion of the population that could benefit from affordable housing options. The median income of $34,615 suggests that many residents may require assistance to afford housing, making Section 8 a viable option for both tenants and landlords.
Despite the favorable conditions for Section 8 participation, such as the discrepancy between the FMR and market rent, the lack of data on the average days on market (DOM) and the percentage of homes that had their prices cut indicates a need for further investigation into local market dynamics. However, the existing figures point towards a scenario where landlords can maintain competitive pricing while still benefiting from government subsidies. The higher FMR compared to the market rent means that landlords who participate in Section 8 can charge closer to the $940 threshold, thereby maximizing their income without excluding potential tenants.
The verdict on Section 8 for ZIP 74366 is positive, given the alignment between the FMR and the needs of the local population, despite limited data on certain market indicators.
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.