Location: Pittsburg County, OK | Metro: Haskell 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 | $720 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $102,164 | 0.91% | C |
| 3BR | $1,160 | $164,781 | 0.7% | D |
| 4BR | $1,430 | $298,367 | 0.48% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 74462 in Oklahoma provides insights into potential investment returns. To calculate the gross yield, we need to consider both the Fair Market Rent (FMR) and the market rent figures.
Using the annualized 2BR FMR of $950 for FY 2026, the annual rental income would be $11,400. Against the median home value of $132,960, this yields an implied gross rental yield of approximately 8.6%. This calculation is based on the following formula:
On the other hand, using the market rent figure of $792 from the Census ACS, the annual rental income drops to $9,504. When compared to the median home value, this results in an implied gross rental yield of about 7.2%.
The lower gross rental yield based on market rent reflects the reality that many properties may not command the FMR due to local market conditions. Given the 23.2% renter density in ZIP 74462, it is reasonable to expect that a significant portion of the population might prefer homeownership over renting, which could impact the demand for rental properties.
The N/A-day DOM (Days on Market) indicates that there isn't sufficient data to determine how quickly rental units are typically leased in this area. However, considering the relatively low renter density, it is likely that landlords might face longer vacancy periods, making the market rent scenario more realistic.
In conclusion, while the FMR suggests a higher gross rental yield of 8.6%, the actual market conditions indicate a more probable gross rental yield of around 7.2%. Landlords and investors should factor in the lower renter density and the possibility of extended vacancy periods when evaluating the potential returns of properties in ZIP 74462.
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.