Location: Delaware 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 | $820 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,420 | $230,252 | 0.62% | D |
U.S. Census Bureau data (2024)
The ZIP code 74964, located in Delaware County, OK metro, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the significant spread between the Fair Market Rent (FMR) for the metro area in fiscal year 2026, which is set at $1,160, and the current market rent of approximately $846. Additionally, the median home value stands at $213,156.
The substantial gap between the FMR and the market rent indicates that properties in ZIP 74964 can be leased out at a rate that exceeds the market average, thus providing a reliable source of income. Landlords and small-portfolio investors can leverage this difference to ensure steady cash flow, which is crucial for maintaining financial stability and covering operational costs associated with property management.
Moreover, the relatively low median home value suggests that purchasing properties in this area might be more affordable compared to other regions, making it easier to build a diversified portfolio while keeping the initial investment lower. However, the primary focus here should be on the cash flow generated through higher-than-market rental rates rather than potential appreciation, as there is no specific mention of price-cut shares or days on market (DOM).
The 15.4% renter share and median income of $47,250 further support the idea that ZIP 74964 is well-suited for cash-flow generation. The renter share indicates a moderate level of renters in the area, and the median income suggests that tenants are likely to have stable financial situations, reducing the risk of default on rent payments.
In summary, ZIP 74964 serves as a cash-flow anchor within a Section 8 portfolio strategy due to its favorable spread between FMR and market rent, along with its reasonable median home value and stable tenant demographics. This makes it an attractive choice for investors looking to secure consistent returns from their rental properties.
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.