Section 8 Fair Market Rent (FMR) for ZIP 74949 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 74949

• Housing Authority of the Town of Wister (Wister, OK)
• Housing Authority of the Town of Talihina (Talihina, OK)
• Housing Authority of the City of Heavener (Heavener, OK)

To decide whether you should buy in ZIP code 74949 for Section 8 investment, follow these steps:

Step 1: Clear Debt Service

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is $1,240. Determine if this amount can cover the debt service on a property in this ZIP code. If the answer is yes, proceed to the next step. If not, investing in this area is not advisable.

Step 2: Compare Market Rent to FMR

• If the market rent is above $1,240, then it depends on the specifics of the property and the local housing demand. Higher market rents might indicate a competitive advantage but also suggest higher competition for tenants.
• If the market rent is exactly $1,240, then it's a balanced scenario where the FMR matches the market conditions. This could be a good entry point for Section 8 properties.
• If the market rent is below $1,240, then it's less favorable for Section 8 investment unless there are other mitigating factors such as lower property taxes or maintenance costs.

Step 3: Assess Demand

In ZIP 74949, 15.9% of residents are renters, and the average days on market (DOM) for rental listings is not specified. To make a decision:

• If the DOM is low (under 30 days), this indicates strong demand. Combined with the FMR covering debt service and market rent being at least equal to the FMR, buying here would be a positive move.
• If the DOM is moderate (around 30-60 days), the decision to invest hinges on the balance between FMR and market rent. If market rent is significantly above FMR, it might still be worth considering despite slightly higher DOM.
• If the DOM is high (over 60 days), even if FMR covers debt service, it suggests weak demand. Unless market rent substantially exceeds FMR, purchasing in this area would be unadvisable due to potential vacancy issues.

Note: The exact market rent and DOM figures are missing from the provided data, which are critical for making a fully informed decision. These metrics should be researched to finalize your assessment.

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.