Location: Delaware County, OK | Metro: Delaware County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 74368 reveals several potential issues that landlords and small-portfolio investors should be aware of. Tenant turnover is a significant concern, especially considering the market rent is not available but the Fair Market Rent (FMR) for the area is set at $940 for fiscal year 2026, which reflects the metro average. This could lead to frequent changes in occupancy, impacting stability and revenue consistency.
Vacancy exposure is another critical factor. The Days on Market (DOM) figure is not available, which makes it difficult to predict how long properties might remain vacant between tenants. A prolonged period of vacancy can result in lost rental income and increased costs for maintenance and property management.
Deferred maintenance poses a threat due to the lack of data on the typical home value in the area. However, the median household income stands at $91,875, indicating a relatively affluent neighborhood. Despite this, landlords must be vigilant about maintaining properties to meet Section 8 standards, as failure to do so can result in penalties and loss of vouchers.
On the positive side, the 0.0% renter share in ZIP 74368 suggests that there is little competition among landlords for tenants holding Section 8 vouchers. In other areas with higher renter density, there tends to be greater demand for voucher-assisted housing, which can stabilize occupancy rates and reduce the risk of vacancy.
Verdict: high risk for a first-time Section 8 landlord due to the uncertainties surrounding market rent, days on market, and the need for diligent property maintenance.
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.