Section 8 Fair Market Rent (FMR) for ZIP 74826 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 74826

• Housing Authority of the City of Shawnee (Shawnee, OK) - 502 Section 8 vouchers
• Housing Authority of the City of Tecumseh (Tecumseh, OK) - 34 Section 8 vouchers

A landlord considering ZIP 74826 for Section 8 investments must follow a structured decision-making process. Here’s how to evaluate the opportunity:

• Does FMR $940 (metro FY 2026) clear debt service on a $182,756 property?
  • If yes: The Fair Market Rent (FMR) of $940 per month is sufficient to cover the debt service on a property valued at $182,756. This means that the rental income from a Section 8 tenant can support the mortgage payments and other financial obligations associated with the property.
  • If no: The FMR does not clear the debt service, making it unfeasible to invest in this area for Section 8 without additional income sources or a reduction in the purchase price.
• Is market rent $858 (Census ACS) above, at, or below FMR?
  • If market rent is below FMR: At $858 per month, the market rent is below the FMR of $940. This suggests that the Section 8 program offers a higher rental rate compared to the local market, which could be advantageous for landlords seeking stable income.
  • If market rent is at or above FMR: This scenario would indicate that the local market is competitive with or exceeds the FMR, potentially offering better returns outside of the Section 8 program.
• Are 18.4% renters + N/A-day DOM enough demand?
  • If there is sufficient demand: With 18.4% of the population renting, there is a notable demand for rental properties. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly properties are rented out. Landlords should consider this percentage alongside other local market factors to gauge overall demand.
  • If there is insufficient demand: The percentage of renters might be too low to sustain a Section 8 investment, especially if combined with long DOM periods indicating slow turnover rates.

The decision to invest in ZIP 74826 hinges on these three key points. If the FMR clears debt service, the market rent is below the FMR, and there is enough rental demand, then the answer is yes. Otherwise, it depends on the landlord's risk tolerance and the ability to find additional ways to make the investment viable.

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.