Location: Choctaw County, OK | Metro: Choctaw 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 | $1,130 |
| 4 Bedrooms | $1,210 |
| 5 Bedrooms | $1,404 |
| 6 Bedrooms | $1,572 |
| 7 Bedrooms | $1,698 |
| 8 Bedrooms | $1,783 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $74,523 | 1.23% | A |
| 3BR | $1,130 | $127,821 | 0.88% | C |
| 4BR | $1,210 | $215,908 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 74743 in Hugo, OK stands out within Choctaw County due to several distinct characteristics. With a population of 8,075 residents, 42.2% of whom rent their homes, it reflects a significant reliance on rental properties. The median income in this area is $41,722, while the median home value is notably higher at $119,337, indicating a diverse economic landscape where homeownership is valued despite lower incomes.
In terms of voucher economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $950. However, the actual market rent, according to the Census American Community Survey (ACS), is $644. This discrepancy suggests that landlords can potentially receive a higher rent through Section 8 vouchers compared to the current market rate, making it a financially viable option for those willing to participate in the program. Landlords in ZIP 74743 can benefit from the difference between the FMR and the market rent, earning an additional $306 per month on average for each voucher tenant.
The data signature for ZIP 74743 indicates a stable environment. The high percentage of renters alongside a relatively low median income points to a steady demand for affordable housing. Given the higher FMR compared to the market rent, landlords have an incentive to accept Section 8 vouchers, which can help maintain a stable occupancy rate and income stream. This stability is further supported by the median home value, suggesting that homeownership remains a priority even as rental needs are met.
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.