Location: Caddo County, OK | Metro: Caddo 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 | $700 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,160 | $176,590 | 0.66% | D |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP code 73009 highlights several potential challenges that could impact the success of a Section 8 property. First, consider the tenant turnover rate, which is likely to be higher due to the disparity between the market rent of $743 and the Fair Market Rent (FMR) of $940 for fiscal year 2026 in the metropolitan area. This gap suggests that tenants might struggle to find sufficient funds to cover the difference, leading to frequent moves or even eviction.
Vacancy exposure is another concern, especially since the average days on market (DOM) is not available. A lack of data on DOM can indicate either a highly competitive rental market or a less transparent housing market, both of which increase the risk of prolonged vacancies. When vacancies occur, landlords are not guaranteed immediate occupancy through Section 8, which can lead to significant financial strain until a new tenant is found.
Deferred maintenance poses a risk as well. With a typical home value of $118,159 and a median income of $59,625, many residents may have limited disposable income to invest in home improvements. This could result in higher repair costs for landlords who take over properties that have been neglected. Additionally, the lower median income indicates that tenants might face financial difficulties, increasing the likelihood of late rent payments or non-payment.
Despite these risks, there are factors that mitigate the overall investment risk. The high renter share of 22.9% suggests a robust demand for rental properties, including those participating in the Section 8 program. High renter density often translates into a larger pool of potential voucher holders, reducing the risk of vacancies and ensuring a steady stream of income.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.