Location: Pittsburg County, OK | Metro: Latimer County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $640 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The ZIP code 74547, located in Hartshorne, OK, presents a market characterized by distinct dynamics between rental and homeownership sectors. The Fair Market Rent (FMR) for the area, set at $940 for fiscal year 2026, indicates a benchmark that landlords and investors can use to gauge the potential rental income in the region. This figure is notably higher than the current market rent of $759, as reported by the Census Bureau's American Community Survey (ACS).
The discrepancy between the FMR and the actual market rent suggests that there might be a segment of the market where rents are below the fair market level, possibly due to an oversupply of rental units or a lack of demand. However, the absence of data on price-cut share and days on market (DOM) makes it challenging to definitively conclude whether supply outpaces demand or vice versa.
The median home value in Hartshorne, OK, stands at $106,779. This figure provides insight into the affordability of homeownership in the area, which could influence the decision-making process of potential renters considering purchasing a home. With a 28.4% renter share, we observe a significant portion of the population choosing to rent rather than own. This high percentage of renters can imply ongoing housing pressure, as a substantial number of residents might find homeownership unaffordable or prefer the flexibility of renting over the commitment of buying.
The dynamics of this market, with a notable gap between FMR and market rent, suggest a balance where rental prices have room to grow but are currently held down by various factors, such as economic conditions or the availability of affordable homes. Landlords and small-portfolio investors should consider these factors when evaluating the potential for rental income growth in the area. Additionally, the high renter share points towards a market where rental properties can remain in high demand, providing a stable investment opportunity for those looking to capitalize on the local housing trends.
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.