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Delaware County/Watts/74964

74964

ZIPSAFMR
Delaware County, OK
Zillow

ZIP Investment Score

101Above average

095130300
BRFMR
Eff. Rent
0 BR$820$900
1 BR$880$970
2 BR$1,140$1,250
3 BR$1,420$1,490
4 BR$1,670$1,600
5 BR$1,920Not available
6 BR$2,209Not available
7 BR$2,540Not available
8 BR$2,921Not available

Purchase Price Calculator

Maximum purchase price
$123,833

Cost breakdown

+Likely effective rent$1,250
HUD FMR$1,140
Market rent$1,360
Est. payment standard (110%)Used$1,250
-Principal and interest-$626
Loan amount$99,066
Down payment$24,767
Rate6.50%
Term30 years
-Operating costs-$424
Property taxes-$124
Insurance-$175
Utilities$0
HOA$0
Management-$125
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$20,271(81.8% ROI)
Projected value
$133,355
Return breakdown
Property appreciation+$9,522
Loan principal paid down+$3,549
Rental cash flow+$7,200
5-year hold
+$34,602(139.7% ROI)
Projected value
$140,106
Return breakdown
Property appreciation+$16,273
Loan principal paid down+$6,329
Rental cash flow+$12,000
10-year hold
+$73,765(297.8% ROI)
Projected value
$158,517
Return breakdown
Property appreciation+$34,684
Loan principal paid down+$15,082
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.61
1 BR
0.72
2 BR
0.84
3 BR
0.93
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 74964 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 74964 (Watts, OK) is $1,140 a month. That is down 1.7% from $1,160 in FY 2026. Watts is in the Delaware 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 $980. Among 16 ZIP codes in Delaware County, 74964 has the highest two-bedroom rent (county range $920–$1,140). The median county two-bedroom FMR in Oklahoma is $916, so ZIP 74964 is 24% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 74964
BedroomsFY 2027Change90–110% range
Studio$8200.0%$738–$902
1BR$8800.0%$792–$968
2BR$1,140−1.7%$1,026–$1,254
3BR$1,420−1.4%$1,278–$1,562
4BR$1,670+7.1%$1,503–$1,837

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 74964
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$820$880$1,140$1,420$1,670
FY 2026$820$880$1,160$1,440$1,560
FY 2025$820$870$1,140$1,410$1,550
FY 2024area FMR$725$726$954$1,153$1,482
FY 2023area FMR$629$633$833$1,014$1,316

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

Two-bedroom rent in nearby Delaware County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 74964
74343$920−19.3%
74344$1,020−10.5%
74345$980−14.0%
74346$920−19.3%
74347$1,010−11.4%
74359$920−19.3%
74364$1,100−3.5%
74365$920−19.3%
74366$920−19.3%
74368$1,030−9.6%
74370$920−19.3%
74964Current$1,140—

Questions about ZIP 74964 rents

How much will Section 8 pay for a two-bedroom in ZIP 74964?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $980, which applies unless the housing authority uses Small Area FMRs, that basic range is $882 to $1,078 a month; under the ZIP-level Small Area FMR of $1,140 it would be $1,026 to $1,254. 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 74964 in?

ZIP 74964 is in the Delaware County, OK non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $980.

How much did fair market rent change in ZIP 74964 for FY 2027?

The two-bedroom FMR fell 1.7%, from $1,160 in FY 2026 to $1,140 in FY 2027. Since FY 2025 it has risen 0.0%.

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 rentWatts, OK fair market rentOK statewide rentsWhat is SAFMR?Data sources