Payne County/Stillwater/74074

74074

ZIPSAFMR

Payne County, OK

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ZIP Investment Score

117Above average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$890	$830	6.2%
1 BR	$930	$860	5.0%
2 BR	$1,130	$1,210	5.0%
3 BR	$1,560	$1,720	4.3%
4 BR	$1,640	$1,800	2.5%
5 BR	$1,886	Not available	2.5%
6 BR	$2,169	Not available	2.5%
7 BR	$2,494	Not available	2.5%
8 BR	$2,868	Not available	2.5%

Purchase Price Calculator

Maximum purchase price

$117,889

Cost breakdown

+Likely effective rent$1,210

HUD FMR$1,130

Market rent$1,260

Est. payment standard (107%)Used$1,210

-Principal and interest-$596

Loan amount$94,311

Down payment$23,578

Rate6.50%

Term30 years

-Operating costs-$414

Property taxes-$118

Insurance-$175

Utilities$0

HOA$0

Management-$121

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$19,644(83.3% ROI)

Projected value

$126,954

Return breakdown

Property appreciation+$9,065

Loan principal paid down+$3,379

Rental cash flow+$7,200

5-year hold

+$33,517(142.2% ROI)

Projected value

$133,381

Return breakdown

Property appreciation+$15,492

Loan principal paid down+$6,026

Rental cash flow+$12,000

10-year hold

+$71,377(302.7% ROI)

Projected value

$150,908

Return breakdown

Property appreciation+$33,019

Loan principal paid down+$14,358

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.07ratio

FMR$890

Market$830

vs market+$60

FMR is near market; voucher and private rents are aligned.

1.07

1 BR

1.08ratio

FMR$930

Market$860

vs market+$70

FMR is near market; voucher and private rents are aligned.

1.08

2 BR

0.90ratio

FMR$1,130

Market$1,260

vs market-$130

FMR is below market; voucher rent may lag private rents.

0.90

3 BR

0.86ratio

FMR$1,560

Market$1,820

vs market-$260

FMR is below market; voucher rent may lag private rents.

0.86

4 BR

0.77ratio

FMR$1,640

Market$2,120

vs market-$480

FMR is below market; voucher rent may lag private rents.

0.77

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 74074 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 74074 (Stillwater, OK) is $1,130 a month. That is down 1.7% from $1,150 in FY 2026. Stillwater is in the Payne County, OK non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,010. Among 17 ZIP codes in Payne County, 74074 has the highest two-bedroom rent (county range $920–$1,130). The median county two-bedroom FMR in Oklahoma is $916, so ZIP 74074 is 23% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 74074
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$870	$890	+2.3%	$801–$979
1BR	$940	$930	−1.1%	$837–$1,023
2BR	$1,150	$1,130	−1.7%	$1,017–$1,243
3BR	$1,600	$1,560	−2.5%	$1,404–$1,716
4BR	$1,740	$1,640	−5.7%	$1,476–$1,804

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 74074
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$890	$930	$1,130	$1,560	$1,640
FY 2026	$870	$940	$1,150	$1,600	$1,740
FY 2025	$820	$880	$1,080	$1,510	$1,630
FY 2024area FMR	$744	$803	$976	$1,375	$1,521
FY 2023area FMR	$698	$747	$897	$1,248	$1,405

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Payne County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 74074
74023	$920	−18.6%
74030	$920	−18.6%
74032	$940	−16.8%
74045	$970	−14.2%
74059	$980	−13.3%
74062	$940	−16.8%
74074Current	$1,130	—
74075	$1,080	−4.4%
74076	$1,010	−10.6%
74077	$1,100	−2.7%
74078	$1,110	−1.8%
74085	$920	−18.6%

Questions about ZIP 74074 rents

How much will Section 8 pay for a two-bedroom in ZIP 74074?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,010, which applies unless the housing authority uses Small Area FMRs, that basic range is $909 to $1,111 a month; under the ZIP-level Small Area FMR of $1,130 it would be $1,017 to $1,243. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 74074 in?

ZIP 74074 is in the Payne County, OK non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,010.

How much did fair market rent change in ZIP 74074 for FY 2027?

The two-bedroom FMR fell 1.7%, from $1,150 in FY 2026 to $1,130 in FY 2027. Since FY 2025 it has risen 4.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rent Stillwater, OK fair market rent OK statewide rents What is SAFMR?Data sources