Location: Okfuskee County, OK | Metro: Hughes County, OK
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 | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,190 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $67,473 | 1.47% | A |
| 3BR | $1,190 | $144,133 | 0.83% | C |
U.S. Census Bureau data (2024)
The market in ZIP code 74883 presents a dynamic environment that reflects both current conditions and underlying trends. With a Fair Market Rent (FMR) of $980 set for metro FY 2026, it's evident that there is a significant gap between the FMR and the current market rent of $574, as reported by the Census ACS. This suggests that rental properties are currently undervalued relative to what the government deems fair, indicating a potential for upward pressure on rents as the market adjusts.
The median home value of $119,826 is a key figure for understanding the overall affordability and desirability of the area. It's a relatively low figure that could attract first-time buyers and investors looking for entry-level opportunities. However, without historical data, we can't definitively state whether this value has been rising or falling. The lack of specific data on price-cut share and days on market (DOM) makes it challenging to assess the exact balance between supply and demand, but the low market rent compared to FMR hints at a scenario where demand might be catching up to supply.
A 27.0% renter share indicates that nearly one-third of the population in ZIP 74883 is renting their homes. This percentage is important because it suggests ongoing housing pressure, particularly if the trend towards renting continues. High renter shares often correlate with areas experiencing growth in employment opportunities or student populations, which can sustain long-term demand for rental properties. For landlords and small-portfolio investors, this means there is a steady base of renters who may be unable or unwilling to purchase homes, ensuring a consistent demand for rental units.
In summary, ZIP 74883 is a market characterized by undervalued rental properties relative to FMR and a significant portion of renters. These factors suggest a market where demand is likely to rise, potentially narrowing the gap between current market rents and FMR. The median home value also points to an area that remains attractive for new homeowners and investors, although the exact trajectory of supply and demand dynamics requires further investigation into historical data.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.