Location: Pittsburg County, OK | Metro: Latimer County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
U.S. Census Bureau data (2024)
Wilburton, OK, located in ZIP code 74578, is a small community with a total population of 5,668. Approximately 29.2% of residents are renters, indicating a modest demand for rental properties. The median household income stands at $41,024, which is relatively low compared to national averages. This economic profile suggests that many residents might rely on assistance programs such as Section 8 to afford housing. The median home value in the area is $127,855, reflecting an affordable market for both homeowners and investors.
From an investment perspective, the Federal Market Rent (FMR) for the metro area for fiscal year 2026 is set at $950. In contrast, the current market rent, according to Census ACS data, is $641. This discrepancy highlights a significant opportunity for landlords and small-portfolio investors who can leverage the higher FMR rates offered through the Section 8 program to increase their rental income.
The economic conditions in ZIP 74578 suggest that it is well-suited for hands-off voucher operators. The lower market rent indicates that there is a segment of the population that cannot afford market rates without assistance. For those interested in a more hands-on approach, there is potential for value-add strategies. By improving property conditions or adding amenities, landlords could potentially command rents closer to the FMR rate, thus increasing their revenue while still participating in the Section 8 program.
In summary, Wilburton's ZIP 74578 presents a viable market for Section 8 investments. With a substantial portion of the population renting and relying on assistance programs, combined with a gap between market rent and FMR, the area offers opportunities for both passive and active investors.
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.