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 | $640 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 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 |
|---|---|---|---|---|
| 2BR | $920 | $64,614 | 1.42% | A |
| 3BR | $1,200 | $135,671 | 0.88% | C |
| 4BR | $1,410 | $180,263 | 0.78% | D |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 74653, located in the Tonkawa, OK, Kay County, Noble County, OK metro area, reveals key insights for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $940 for the fiscal year 2026, which is significantly higher than the market rent reported by the Census ACS at $778. This indicates that voucher tenants will cashflow positively at the FMR, making it an attractive option for landlords.
To further analyze the investment potential, consider the median home value in the area, which stands at $100,231. Using the HUD FMR of $940, we can calculate a rent-to-price ratio of approximately 11.25%. This ratio suggests that rental income can provide a solid return on investment when compared to property values.
In terms of the days on market (DOM) and the percentage of properties that experience price cuts, these metrics are currently not available for ZIP 74653. However, the strong cashflow potential from voucher tenants outweighs the need for such data, as it ensures steady and reliable income.
The strongest angle for investors in this market is cashflow. With voucher tenants paying above the market rent, landlords can expect consistent positive cashflow, which is crucial for financial stability and growth in rental investments.
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.