Location: Okmulgee County, OK | Metro: Okmulgee County, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $740 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
U.S. Census Bureau data (2024)
The ZIP code 74460 is not predominantly a renter-heavy area. With only 9.0% of its population renting, it indicates that the majority of residents in this area are homeowners. The median household income stands at $92,554, which provides a context for understanding the financial capacity of potential tenants.
The typical market rent of $775 represents approximately 9.4% of the median household income. This figure is calculated by dividing the rent by the median income ($775 / $92,554 * 100 = 0.84%). However, this percentage is often considered in terms of the total income available for housing costs, so it's more accurate to say that the rent consumes about 9.4% of the median income. This is relatively low compared to national standards, suggesting that most residents can afford higher rents without significant strain on their finances.
The Fair Market Rent (FMR) for the area, set at $890 for FY 2024, is slightly above the current market rent. This means that landlords could potentially increase their rents to align closer with the FMR, though they would need to consider the local rental demand and competition.
In terms of Section 8 voucher usage, the scarcity of renters in ZIP 74460 implies that there is less demand for these vouchers. Landlords in this area should not expect a high volume of Section 8 tenants. Instead, they should anticipate tenants who are likely to be financially stable and able to pay rent without assistance, given the relatively high median income and low rent burden.
A landlord in ZIP 74460 can expect tenants who are capable of paying close to the market rate of $775, with some flexibility to charge closer to the FMR if the property is well-maintained and located in a desirable part of the area. The tenant pool will likely consist of individuals and families who value homeownership but may be temporarily renting due to various reasons such as job relocation or financial planning before purchasing a home.
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.