Location: Coal County, OK | Metro: Coal County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,810 |
| 5 Bedrooms | $2,100 |
| 6 Bedrooms | $2,352 |
| 7 Bedrooms | $2,540 |
| 8 Bedrooms | $2,667 |
U.S. Census Bureau data (2024)
The median Fair Market Rent (FMR) for ZIP 74556 (Lehigh, OK) is set at $940 for fiscal year 2026. This figure raises questions among potential investors regarding whether it will sufficiently cover the mortgage on a home in this area. According to recent data, the median home value in ZIP 74556 is $152,400, which is significantly below the national median value. While the exact mortgage amount cannot be determined without knowing the specific purchase price and interest rates, the lower median home value suggests that mortgages in this area could be manageable with the given FMR.
Another concern is the level of renter demand, which stands at 22.5%. This figure may seem low, but it is important to note that the population density in ZIP 74556 is very low, with only 18 people per square mile. This means that even a modest percentage of renter demand can translate into a significant number of tenants relative to the size of the local housing market. However, the data does not provide a direct comparison to historical demand levels, so it is difficult to assess whether this percentage represents a stable or growing trend.
The question of whether housing vouchers will keep pace with the market rents of $875 is also pertinent. The Housing Choice Voucher (HCV) program, administered by the Department of Housing and Urban Development (HUD), aims to assist low-income families in finding suitable housing. While the national and state fact sheets show trends in voucher usage and funding, specific data for ZIP 74556 is not available. However, the national trend indicates that the program is expanding, and the average voucher payment is increasing. Given that the median gross rent in 2023 was $780, the current FMR of $875 and the anticipated increase to $940 in 2026 suggest that voucher amounts should continue to grow to meet these market rents. Still, the exact pace of growth for individual ZIP codes is not explicitly stated in the available data.
In summary, while the data does not provide every detail needed to fully address investor concerns, it suggests that the FMR in ZIP 74556 is likely sufficient to cover mortgage costs, considering the relatively low median home value. The renter demand percentage, although modest, may still represent a viable market due to the area's low population density. Lastly, while voucher amounts are expected to rise, specific projections for ZIP 74556 are unavailable, making it challenging to definitively predict their future alignment with market rents.
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.