Location: Muskogee County, OK | Metro: Muskogee 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 | $730 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $960 | $68,164 | 1.41% | A |
| 3BR | $1,210 | $132,569 | 0.91% | C |
| 4BR | $1,380 | $174,879 | 0.79% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 74401, Muskogee, OK, presents a nuanced picture for landlords and small-portfolio investors. With a median home value set at $118,547, the area reflects a market that is stable but not experiencing rapid growth. The fact that only 0.2% of listings have seen reductions signals a seller's market where there is little need to lower prices to attract buyers, indicating strong pricing power.
The median days on market (DOM) being listed as N/A suggests that homes are either selling very quickly or the data is incomplete. This could imply that the local market is robust, with demand outstripping supply, further supporting the notion of strong pricing power for landlords and investors.
On the rental side, the forward market rate (FMR) for the metro area in fiscal year 2026 is projected at $970, while the current market rate stands at $825 according to Census ACS data. This indicates an upward trend in rental values, suggesting that landlords can expect to see modest increases in rental income over the next few years. However, it also means that potential homebuyers might be increasingly priced out of the market, which could influence future housing demand.
For long-term investors, the setup in ZIP 74401 points towards a moderate appreciation thesis. Given the steady median home value and the slight reduction in listings, combined with the projected increase in rental rates, it is reasonable to anticipate a gradual rise in property values. However, the pace of appreciation will likely remain modest due to the absence of significant economic drivers or population growth in the area. Investors should focus on steady cash flow from rentals and the potential for slow asset appreciation rather than rapid capital gains.
In summary, the combination of a stable median home value, a low percentage of price reductions, and a positive outlook on rental rates suggests a market where landlords and small-portfolio investors can maintain strong pricing power. The realistic appreciation thesis is one of gradual growth, aligning well with the current rental dynamics and providing a solid foundation for long-term investment strategies.
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.