Location: Ottawa 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 | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $152,370 | 0.6% | D |
| 3BR | $1,160 | $253,772 | 0.46% | F |
U.S. Census Bureau data (2024)
The market in ZIP 74370, which encompasses Wyandotte, OK, presents a dynamic scenario indicative of current housing pressures and trends. The Fair Market Rent (FMR) for the area is set at $940 for the fiscal year 2026, reflecting a benchmark established by HUD for the metro region. However, the actual market rent, as reported by the Census American Community Survey (ACS), stands significantly lower at $632. This discrepancy suggests that there may be an oversupply of rental units or a lack of demand at higher price points, leading to rents below the FMR.
The median home value in the area is $225,695, providing insight into the overall cost of homeownership. While specific data on the percentage of homes that have had their prices cut or the average days on market (DOM) is not available, the lower market rent compared to the FMR implies that landlords might be offering competitive pricing to attract tenants, possibly indicating a slight oversupply of rental properties.
A noteworthy statistic is the 21.8% share of renters in the area. This figure is relatively low, suggesting that a majority of residents prefer homeownership. However, it also indicates a persistent need for rental units, as nearly one in five residents rely on renting. This can create long-term housing pressure, as the demand for rental units remains steady even if it does not dominate the market. Landlords and small-portfolio investors should consider this trend when evaluating the potential for rental income versus the stability of home values.
In summary, ZIP 74370 appears to be a market where supply slightly outpaces demand in the rental sector, but there is a significant homeownership preference among residents. The presence of both rental and ownership options, alongside the steady rental demand, makes Wyandotte a balanced market with opportunities for both types of investment. The gap between FMR and market rent offers a clear indication of the local rental market's dynamics, while the median home value provides a solid foundation for understanding the broader housing landscape.
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.