Location: Grady County, OK | Metro: Grady County, OK HUD Metro FMR Area
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 | $880 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,260 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,700 | $228,946 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 73004 presents a dynamic rental market that is indicative of strong tenant demand. The Fair Market Rent (FMR) for the area stands at $1040 for the fiscal year 2024, while the market rent based on Census American Community Survey (ACS) data is slightly higher at $1,111. This suggests that the rental market is robust, with rents potentially exceeding the government's benchmark rates.
The median home value in ZIP 73004 is $231,626, which places it within a moderate range for home ownership. However, the significant 18.2% of residents who are renters indicates a substantial segment of the population that prefers or requires renting over owning. This high percentage of renters can be interpreted as a long-term housing pressure point, suggesting that many individuals find the cost of homeownership prohibitive or prefer the flexibility and lower upfront costs associated with renting.
The lack of specific data on price-cut share and days on market (DOM) makes it challenging to determine if there is an immediate oversupply of rental units. However, given the close alignment between FMR and market rent, it is reasonable to infer that demand is keeping pace with supply. Landlords and small-portfolio investors should consider the ongoing demand for rental properties in this area, as evidenced by the relatively high market rent and significant renter share.
In summary, ZIP 73004 is characterized by a steady rental market with strong demand. The high renter share points towards sustained pressure on the rental sector, making it a viable investment opportunity for those interested in real estate. The current rents reflect a balance between supply and demand, positioning the market as stable but with potential for growth as rental preferences continue to shape the local housing landscape.
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.