Location: Bryan County, OK | Metro: Bryan 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 | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,210 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,210 | $266,116 | 0.45% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 74723 in Bryan County, Oklahoma, reveals several key points regarding its viability for rental investments. Firstly, examining the rent math, the Fair Market Rent (FMR) set at $940 for the fiscal year 2026 contrasts sharply with the current market rent of $722, according to the Census ACS. This indicates that landlords could potentially increase their rents to align with the FMR without significantly deterring tenants.
Regarding the affordability of property acquisition, the median home value stands at $323,389. However, the lack of data on days on market (DOM) and the percentage of homes requiring price cuts suggests that the local real estate market's liquidity and negotiation dynamics are unclear. This ambiguity makes it difficult to assess whether the purchase prices are likely to be negotiable or if they will remain stable.
Tenant demand is another critical factor. With a population of 1,302 and a renter share of 20.2%, there is a limited but steady pool of potential renters. The small size of the population means that the total number of renters is also relatively low, which could impact the ability to fill vacancies quickly.
In conclusion, while the potential to raise rents to match the FMR is promising, the limited tenant base and uncertain market conditions pose significant risks. Landlords and small-portfolio investors should proceed with caution, considering the modest opportunities for increasing rental income against the backdrop of a small and potentially volatile rental market. The median home value is high relative to the population size, suggesting that property acquisition might not be as financially advantageous as in larger markets. Overall, the ZIP code offers a niche opportunity but requires careful consideration of the local market dynamics and tenant demand.
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.