Location: Hughes County, OK | Metro: Hughes County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,240 |
| 4 Bedrooms | $1,480 |
| 5 Bedrooms | $1,717 |
| 6 Bedrooms | $1,923 |
| 7 Bedrooms | $2,077 |
| 8 Bedrooms | $2,181 |
U.S. Census Bureau data (2024)
The market in ZIP code 74850 presents a dynamic landscape that is indicative of certain housing pressures and rental trends. The Fair Market Rent (FMR) for the area, set at $1,090 for fiscal year 2026, reflects the government's assessment of rental costs based on local economic conditions and housing markets. This figure is notably higher than the reported market rent of $800, which is derived from the Census American Community Survey data. This discrepancy suggests that the actual rental market may be somewhat depressed compared to what the government deems fair, potentially due to an oversupply of rental units or other economic factors.
The median home value in the area stands at $189,525. This figure provides insight into the overall affordability of homeownership but does not directly indicate whether supply outpaces demand or vice versa. However, the lack of data on the percentage of price cuts and days on the market (DOM) for rental properties could imply stability in the rental sector, lacking significant fluctuations that would necessitate such adjustments.
A key metric to consider is the 10.5% renter share, which indicates that slightly over one-tenth of the population in ZIP 74850 rents their homes. This relatively low percentage might suggest a preference for homeownership among residents, but it also points to potential long-term housing pressures. With a smaller proportion of renters, any increase in rental demand could lead to rapid price escalations if the supply of rental units remains limited. Conversely, a lower renter share might also indicate a strong local economy where individuals have the means to purchase homes rather than rent, leading to a stable rental market with little urgency to cut prices or reduce days on the market.
In summary, while the data does not provide a complete picture of supply versus demand dynamics, the comparison between the FMR and market rent, along with the median home value and renter share, suggests a market that is currently balanced but could face challenges if rental demand were to increase significantly. Landlords and small-portfolio investors should monitor these trends closely to adapt their strategies accordingly.
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.