Section 8 Fair Market Rent (FMR) for ZIP 74764 - 2027

Location: McCurtain County, OK | Metro: Choctaw County, OK

Investment Score for ZIP 74764

Monthly Rent (2BR)

$940

Median Price (2BR)

$102,209

1% Rule

0.92%

Annual Yield

11.04%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$660
1 Bedroom	$740
2 Bedrooms	$940
3 Bedrooms	$1,260
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$940	$102,209	0.92%	C
3BR	$1,260	$178,584	0.71%	D
4BR	$1,420	$267,823	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,582

Median Household Income

$58,350

Housing Units

1,448

Renter Percentage

18.3%

Occupancy Rate

84.7%

Renter Occupied

224

The economics of Section 8 in ZIP code 74764, located in McCurtain County, Oklahoma, involve understanding the difference between the Subsidized Average Fair Market Rent (SAFMR) and the local market rent. For a two-bedroom apartment, the SAFMR for FY 2026 is set at $960. This figure represents the maximum amount that the housing authority will pay on behalf of a tenant under the Section 8 program. However, the local market rent, according to the Census ACS, is lower at $808.

A landlord might wonder how the actual payment works when a tenant has a Section 8 voucher. Here's a breakdown:

The tenant is responsible for paying a portion of the rent based on their income, typically around 30% of their adjusted monthly income.
The housing authority pays the remainder of the rent up to the SAFMR limit of $960.
In addition to the base rent, there are utility allowances which can vary but generally add a few hundred dollars to the total subsidy. For ZIP 74764, let's assume an average utility allowance of $150.

To illustrate, if a tenant's income requires them to pay $200 towards the rent, the housing authority would cover the remaining $760 of the $960 SAFMR limit. With the utility allowance added, the total subsidy could reach $910. This means the landlord receives a combined payment of $200 from the tenant and $910 from the housing authority, totaling $1110.

However, given the local market rent of $808, the landlord would receive more than the market rate, resulting in a surplus. The surplus in this case is approximately $302 per month, calculated as follows: $1110 (total received) - $808 (market rent) = $302 (surplus).

This surplus is significant and can provide a financial buffer for landlords, especially in areas where rental demand is high or maintenance costs are substantial. It also ensures that landlords in ZIP 74764 are not only meeting but potentially exceeding their usual rental income expectations when they accept a Section 8 tenant.

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.