Location: Cherokee County, OK | Metro: Adair 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 | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $115,858 | 0.79% | D |
| 3BR | $1,130 | $160,586 | 0.7% | D |
| 4BR | $1,350 | $247,466 | 0.55% | F |
U.S. Census Bureau data (2024)
To determine if you should buy a property in ZIP code 74960 (Stilwell, OK) for Section 8 purposes, follow this decision tree:
1) Does the FMR of $950 clear debt service on a $158,440 property?
Yes. The Fair Market Rent (FMR) of $950 for the metro area in fiscal year 2026 can cover the debt service on a property valued at $158,440. Assuming a typical mortgage rate, the monthly payment would be lower than the FMR, making the property financially viable under Section 8 guidelines.
No. If your debt service exceeds $950 per month, then the property is not suitable for Section 8 investment because the rent received would not cover the costs.
2) Is the market rent of $676 above, at, or below the FMR?
Above FMR. If the market rent is higher than $950, then the property is overpriced relative to what Section 8 tenants can pay. This means you would need to reduce the rent to attract Section 8 tenants, which could affect profitability.
At or Below FMR. With a market rent of $676, the property is priced below the FMR, making it a good candidate for Section 8 investment. Landlords can charge the full FMR of $950 without deterring potential tenants.
3) Are 32.5% renters and N/A-day days on the market enough demand?
It Depends. In Stilwell, 32.5% of residents are renters, indicating a moderate rental market. However, with the days on the market being N/A, it's unclear how quickly properties are rented out. A quick turnover suggests high demand, while a slow turnover indicates low demand. To make an informed decision, investigate the local rental market further to understand how long properties typically stay on the market before renting.
In conclusion, if the debt service is below $950 and the market rent is at or below $676, the property is financially feasible for a Section 8 investment. However, the percentage of renters alone does not provide a complete picture; understanding the speed at which properties are rented out will help clarify the demand. Always verify the latest local rental trends and vacancy rates to ensure the investment aligns with your financial goals.
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.