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 | $710 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $133,203 | 0.7% | D |
| 3BR | $1,230 | $210,258 | 0.58% | F |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP code 74733 in Colbert, OK, is centered around the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $940, while the Census ACS data indicates that the market rent is $865. This creates a $75 gap, which translates to an 8.7% difference between what voucher holders can pay and the current market rate.
Given that the FMR exceeds the market rent, properties in ZIP 74733 present a compelling opportunity for landlords and small-portfolio investors. The higher FMR means that voucher tenants can afford to pay more than what the market currently demands. This makes it a strong yield play, as landlords can potentially increase their rental income without significantly raising the rent above what is considered fair in the local market.
Colbert, OK, has a rental population of 27.1%, indicating a significant portion of residents who rely on rental housing. With a median home value of $190,695 and a median household income of $65,875, the area's economic profile suggests that many residents might find it challenging to enter the homeownership market. Thus, the demand for rental units, especially those that accept Section 8 vouchers, is likely to remain steady.
Landlords should be aware of the administrative aspects of accepting Section 8 vouchers. While the higher payment compared to the market rent can boost yields, there may also be additional costs associated with maintaining the property to meet Housing Quality Standards (HQS). These costs must be weighed against the benefits of a guaranteed tenant and a stable source of income.
In summary, the gap between the FMR and market rent in ZIP 74733 presents a strategic opportunity for landlords. By accepting Section 8 vouchers, they can capitalize on a higher rental rate, improving their yield and financial performance. However, this strategy should be implemented with a clear understanding of the responsibilities and potential expenses involved in managing voucher-assisted properties.
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.