Location: Okmulgee County, OK | Metro: Tulsa, OK HUD Metro FMR Area
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 | $870 |
| 1 Bedroom | $870 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,080 | $155,860 | 0.69% | D |
| 3BR | $1,490 | $257,521 | 0.58% | F |
| 4BR | $1,520 | $382,897 | 0.4% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 74421 does not align favorably with the Federal guidelines. The Fair Market Rent (FMR) set by HUD for the area in fiscal year 2024 is $1030. However, the Census ACS data indicates that the actual market rent is significantly lower at $817. This discrepancy suggests that landlords aiming to comply strictly with HUD's FMR might struggle to find tenants willing to pay the higher rate.
Regarding acquisition affordability, the median home value in ZIP 74421 stands at $247,531. There is no data available on the number of days on market (DOM), which could indicate either a stable housing market or a lack of recent transactions. Additionally, the 0.2% price-cut share suggests that homes are generally selling at or near their asking price, implying a relatively strong seller's market where homes do not typically require significant discounts to sell.
Tenant demand in ZIP 74421 is modest. With a total population of 4,360, only 16.1% of residents are renters, translating to approximately 700 potential tenants. This low renter share can be challenging for landlords, as it means a smaller pool of prospective tenants relative to the overall population.
Verdict: In ZIP 74421, the mismatch between HUD's FMR and the actual market rent makes compliance financially unviable for most landlords. Home acquisition is somewhat affordable but the strong seller's market may limit opportunities for significant discounts. Tenant demand is limited due to the low percentage of renters in the population. These factors collectively suggest that this area is not particularly attractive for landlords or small-portfolio investors looking to maximize returns and occupancy rates.
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.