Location: Pottawatomie County, OK | Metro: Lincoln County, OK HUD Metro FMR Area
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 | $970 |
| 1 Bedroom | $990 |
| 2 Bedrooms | $1,120 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,120 | $140,532 | 0.8% | D |
| 3BR | $1,490 | $229,340 | 0.65% | D |
| 4BR | $1,730 | $337,304 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 74855, located in Meeker, OK, has a population of 4,249 residents, with 29.7% being renters. This indicates that while the area is not predominantly rental-heavy, there is still a significant portion of the population that relies on renting. The median household income stands at $60,256, which provides a baseline for understanding the economic context of potential tenants.
The market rent for the area is $924 per month, which represents approximately 18.7% of the median household income. This calculation is derived from dividing the market rent by the median income and multiplying by 100 (924 / 60256 * 100 = 1.53%). To put this into perspective, the Fair Market Rent (FMR) for the area is set at $1,100 per month for FY 2024, indicating that the actual market rent is slightly below the FMR benchmark. The difference between the market rent and the FMR suggests that there is room for landlords to potentially increase rents without exceeding what is considered fair by HUD standards.
The discrepancy between the market rent and the FMR also implies that there could be a substantial demand for Section 8 vouchers in the area. With the FMR being higher than the market rent, tenants with vouchers would likely find it easier to secure housing within their budget. However, the relatively low percentage of renters in the population means that the overall demand for Section 8 vouchers might not be as high as in areas with a larger proportion of renters.
A landlord in ZIP 74855 can expect tenants who are either fully subsidized by Section 8 vouchers or partially subsidized, depending on the income levels of the individuals. Given the median income of $60,256, a significant number of tenants will require some form of assistance to cover the cost of rent. Landlords should be prepared to work with tenants who have a mix of voucher support and personal contributions to meet the total rent amount. It's important to note that while the voucher demand exists, the supply may be limited due to the smaller renter population, so landlords might need to be selective about accepting tenants with vouchers.
In conclusion, ZIP 74855 presents an opportunity for landlords who are willing to accommodate Section 8 tenants. The area is not heavily dominated by homeowners, but it is also not a highly renter-dense area. The combination of the market rent being lower than the FMR and the median income suggests that landlords should expect tenants who rely on financial assistance to cover their living expenses.
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.