Section 8 Fair Market Rent (FMR) for ZIP 74720 - 2027

Location: Bryan County, OK | Metro: Bryan County, OK

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$740
1 Bedroom	$750
2 Bedrooms	$980
3 Bedrooms	$1,300
4 Bedrooms	$1,490
5 Bedrooms	$1,728
6 Bedrooms	$1,935
7 Bedrooms	$2,090
8 Bedrooms	$2,195

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

401

Median Household Income

$50,833

Housing Units

172

Renter Percentage

22.8%

Occupancy Rate

79.1%

Renter Occupied

The Section 8 cap-rate analysis for ZIP code 74720 provides a clear picture of potential investment returns based on the Fair Market Rent (FMR) and market rent figures. The annualized FMR for a 2-bedroom apartment in this area is set at $940 (for fiscal year 2026, metro level), while the Census ACS reports the market rent at $943 per month.

To derive the gross yield, we need to consider the rental income against the median home value. However, the median home value for ZIP 74720 is not available, which complicates a direct comparison between the two rental scenarios. Despite this limitation, we can still provide insights into the potential gross yields.

In the case of using the FMR for a 2-bedroom unit, the annual rent would be $11,280 ($940 x 12 months). For the market rent scenario, the annual rent would be $11,316 ($943 x 12 months).

FMR Scenario: With an annual rent of $11,280, the implied gross yield would be calculated by dividing the annual rent by the property's value. Since the median home value is not available, we cannot calculate the exact gross yield. However, if we assume a property value that reflects typical investment properties in the area, the FMR-based rent would likely result in a lower gross yield compared to market rents.
Market Rent Scenario: Similarly, the annual rent of $11,316 implies a slightly higher gross yield than the FMR scenario, again contingent upon the actual property value.

Given the 22.8% renter density in ZIP 74720, it suggests a relatively low demand for rentals compared to owner-occupied homes. This could imply that securing tenants at market rates might be challenging, making the FMR scenario more realistic. However, the lack of data on the average days on market (DOM) prevents us from drawing a definitive conclusion on the ease of renting out properties at either rate.

While the difference between the two rental rates is minimal, the FMR scenario aligns better with the local rental environment, considering the limited renter population. Landlords and investors should focus on understanding the specific dynamics of ZIP 74720, including the availability of Section 8 vouchers and the competition from owner-occupiers, to determine the most practical rental strategy.

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.