Location: Lincoln County, OK | Metro: Lincoln County, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
U.S. Census Bureau data (2024)
The Section 8 thesis for ZIP 74869 is anchored by the significant gap between the Fair Market Rent (FMR) and the actual market rent. For a two-bedroom apartment in ZIP 74869, the FMR for fiscal year 2024 is set at $930. However, the Census ACS data indicates a market rent of $668 for the same type of unit. This creates a gap of $262, or approximately 39%, between what voucher tenants can pay and what the open market demands.
Given the context of 15.4% of residents being renters, a median home value of $195,433, and a median income of $54,653, the discrepancy highlights the potential for yield in the Section 8 program. Landlords who accept voucher tenants can secure a higher rate of return compared to the open market, especially considering the lower risk of vacancy and the stability provided by the government-backed payments.
The FMR is designed to reflect the 40th percentile of rents in an area, meaning that voucher tenants will generally pay less than half of the local rental prices. This makes the program particularly attractive for landlords in ZIP 74869, where the FMR exceeds the market rent. By accepting Section 8 tenants, landlords can achieve a better financial outcome while providing affordable housing options to those who need it most.
To illustrate further, the FMR for a two-bedroom unit in ZIP 74869 is $930, which is notably higher than the actual market rent of $668. This difference means that landlords can expect to receive a consistent and reliable income stream that surpasses the typical rental rates. Moreover, the program offers flexibility in setting the exact rent within the established FMR range, allowing landlords to adjust their rates according to their needs.
In summary, the gap between the FMR and the market rent in ZIP 74869 presents a compelling opportunity for landlords and small-portfolio investors to maximize their returns while participating in a stable and government-supported rental program.
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.