Location: Noble County, OK | Metro: Kay 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 | $660 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $730 | $34,950 | 2.09% | A+ |
| 2BR | $950 | $62,852 | 1.51% | A+ |
| 3BR | $1,240 | $119,581 | 1.04% | B |
| 4BR | $1,410 | $173,111 | 0.81% | C |
U.S. Census Bureau data (2024)
960 is the Fair Market Rent (FMR) for ZIP 74601, Ponca City, OK, as set for the metro area in fiscal year 2026. This figure represents the maximum amount a landlord can charge for a Section 8 rental unit in this area. In contrast, the market rent, known as ZORI, stands at 744, indicating a gap between the government-set rates and the actual market conditions. The median home value in this ZIP code is 86,925, reflecting a relatively affordable housing market compared to national averages. Renter share is at 40.9%, suggesting a significant portion of the population relies on renting rather than owning homes, which could be indicative of demand for rental properties. Median income in the area is 52,067, providing insight into the financial capabilities of potential tenants. Notably, the data does not provide a specific number for days on market (DOM), but the price-cut share is only 0.2%, implying that while there might be variability in listing times, very few properties need to reduce their asking prices to attract buyers.
The disparity between the FMR and ZORI highlights an opportunity for landlords participating in the Section 8 program. With the FMR being higher, landlords can secure a more stable income stream compared to typical market rents. Additionally, the low price-cut share suggests that the housing market in Ponca City is robust, with minimal need for price adjustments, which is favorable for both landlords and small-portfolio investors. Given these factors, particularly the strong income support through FMR and the limited need for price reductions, investing in Section 8 properties in ZIP 74601 appears to be a prudent choice.
Section 8 verdict: Favorable investment climate in Ponca City, OK.
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.