Location: Kay 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 | $640 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $42,809 | 2.15% | A+ |
| 3BR | $1,200 | $97,659 | 1.23% | A |
| 4BR | $1,200 | $146,533 | 0.82% | C |
U.S. Census Bureau data (2024)
The rental market in Blackwell, Oklahoma (ZIP 74631) presents a unique challenge for both tenants and landlords. The median household income stands at $53,964, which is insufficient to cover the market rate rent of $830 per month without financial strain. This situation becomes even more pronounced when compared to the Fair Market Rent (FMR) set at $980 for the metro area in fiscal year 2026.
The disparity between the median income and the market rate rent highlights a significant affordability gap for renters. At the current market rate, a household would need to allocate a substantial portion of their income to housing costs, potentially compromising other essential expenses such as healthcare, food, and transportation. This makes it difficult for many residents to secure housing through traditional means.
In ZIP 74631, where 28.6% of the 6,689 population are renters, the affordability gap has a direct impact on the competitive landscape for landlords. Tenants are likely to seek out subsidized housing options, such as Section 8 vouchers, to manage their living expenses effectively. This trend can lead to increased competition among landlords who accept vouchers, as they become more attractive to potential tenants facing financial constraints.
For landlords considering their strategy regarding voucher acceptance, the numbers clearly indicate a preference for accepting vouchers over strictly cash-paying tenants. By accepting vouchers, landlords can tap into a larger pool of potential renters, especially those who find the market rate unaffordable. The FMR of $980 provides a guaranteed minimum payment, ensuring steady and predictable income despite the economic challenges faced by local households.
The takeaway for landlords is straightforward: accepting Section 8 vouchers can be a strategic advantage in a market with limited financial resources for many renters. It ensures a stable tenant base and aligns with the realities of the local economy. However, landlords should also consider the administrative requirements and the need to meet certain standards to qualify for voucher acceptance programs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.