Location: Cherokee County, OK | Metro: Adair County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,340 |
| 5 Bedrooms | $1,554 |
| 6 Bedrooms | $1,740 |
| 7 Bedrooms | $1,879 |
| 8 Bedrooms | $1,973 |
U.S. Census Bureau data (2024)
The market in ZIP code 74457, as of fiscal year 2026, has a Fair Market Rent (FMR) of $990. This figure is indicative of the rental pricing benchmark set by HUD for the area, which landlords can use to assess their rental rates. However, the lack of current market rent data suggests that either the market is relatively stable, or there's insufficient recent activity to provide a reliable average.
The median home value in the area stands at $199,273. While this metric doesn't directly indicate whether supply outpaces demand or vice versa, it does give insight into the overall affordability and desirability of homeownership in the region. A lower median home value could imply that the market is more attractive to first-time buyers and investors looking for affordable properties.
With a renter share of 11.8%, ZIP 74457 leans towards a predominantly owner-occupied community. This low percentage of renters suggests that long-term housing pressure may be less pronounced compared to areas with higher renter shares. However, it also indicates that there might be limited rental inventory, which could make it challenging for landlords to find tenants or for investors to build a significant rental portfolio.
The absence of data on the percentage of price-cut share and days on market (DOM) makes it difficult to pinpoint the exact dynamics between supply and demand. Nevertheless, the combination of a defined FMR and a median home value provides a snapshot of the housing costs relative to rental prices. If the FMR is significantly below the median home value, it might suggest that rental properties are more affordable, potentially indicating strong rental demand.
Landlords and small-portfolio investors should consider the stability and growth potential of the area, focusing on the balance between rental and homeowner markets. The low renter share implies a need to cater to a niche market or perhaps an opportunity to develop rental properties to meet growing needs, especially if there are trends suggesting increasing population or economic activity.
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.