Location: Okfuskee County, OK | Metro: Okfuskee County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,140 |
| 4 Bedrooms | $1,270 |
| 5 Bedrooms | $1,473 |
| 6 Bedrooms | $1,650 |
| 7 Bedrooms | $1,782 |
| 8 Bedrooms | $1,871 |
U.S. Census Bureau data (2024)
The ZIP code 74829 stands out due to its unique mix of economic factors and housing dynamics. With only 1,678 residents, it has a relatively low population density. However, 13.5% of these residents rent their homes, indicating a modest but present rental market. The median income in this area is $29,583, which is significantly lower than the national average, suggesting that many residents rely on financial assistance such as Section 8 vouchers. The median home value of $145,290 is also below the national median, implying a more affordable housing market.
In terms of voucher economics, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940. This contrasts sharply with the actual market rent, which is recorded at $488 according to the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords participating in the Section 8 program can expect higher rents compared to the local market rate, making it an attractive option for those looking to secure stable tenants with government-backed rent payments.
The data suggests that ZIP 74829 is in a transitional phase. Despite having a low median income, the relatively high FMR indicates potential for growth in rental income for landlords who accept Section 8 vouchers. However, the overall economic indicators point towards a community that is still developing, with a median home value and income levels below the national average. This implies that while there is opportunity, it comes with the challenges typical of areas where residents heavily rely on assistance programs. For small-portfolio investors and landlords, the decision to participate in the Section 8 program should be carefully weighed against the broader economic context of the ZIP code.
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.