Location: Kay County, OK | Metro: Grant County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
The market in ZIP code 74643 is finely balanced, with the Fair Market Rent (FMR) set at $940 for the fiscal year 2026, closely matching the reported market rent of $942 based on Census American Community Survey (ACS) data. This alignment suggests that the local rental market is stable and reflective of broader economic conditions, indicating neither a significant surplus nor shortage of rental units at present.
A notable feature of this market is the median home value of $95,989. While this figure provides insight into the overall cost of homeownership, it does not directly indicate whether supply is outpacing demand or vice versa. However, the absence of data on the percentage of price cuts and days on market (DOM) implies that there might be limited volatility in the rental sector, suggesting a relatively static market condition.
The 24.4% renter share in ZIP 74643 is indicative of a community where a quarter of the households choose to rent rather than own their homes. This statistic points towards ongoing long-term housing pressure, as a significant portion of residents may find homeownership financially unattainable or prefer the flexibility of renting. For landlords and small-portfolio investors, this means a steady demand for rental properties, but also potential challenges in maintaining occupancy rates if other areas offer more competitive rents or amenities.
In summary, ZIP 74643 presents a market characterized by stability and a modest renter population. The slight overlap between FMR and market rent signals a well-regulated environment where both landlords and tenants can expect consistent conditions. The median home value, while lower than many metropolitan areas, still places homeownership out of reach for some, ensuring a continuous need for rental housing. This dynamic supports a niche for rental properties, particularly those that cater to the economic realities of the area's residents.
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.