Location: Grady County, OK | Metro: Oklahoma City, 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 | $870 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,910 |
| 5 Bedrooms | $2,216 |
| 6 Bedrooms | $2,482 |
| 7 Bedrooms | $2,681 |
| 8 Bedrooms | $2,815 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,200 | $176,078 | 0.68% | D |
| 3BR | $1,620 | $306,207 | 0.53% | F |
| 4BR | $1,910 | $396,265 | 0.48% | F |
| 5BR | $2,216 | $512,077 | 0.43% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 73010 in Blanchard, OK, reveals several challenges that first-time Section 8 landlords must be prepared to face. Firstly, tenant turnover is likely to be higher due to the significant difference between the market rent of $1,515 and the Fair Market Rent (FMR) for FY 2024, which stands at $1,030. This disparity can lead to frequent vacancies and increased management costs.
Vacancy exposure is another concern, given the 73-day Days on Market (DOM). This figure suggests that properties may remain vacant for an extended period, leading to a loss of rental income and potential financial strain. Additionally, the deferred maintenance exposure is notable. With a typical home value of $318,289 and a median income of $90,110, many homeowners may struggle to keep up with necessary repairs and maintenance, potentially affecting the overall quality of the rental stock.
However, these risks are balanced by the high renter share of 15.2%. High renter density often translates into greater demand for rental housing, including units that accept Section 8 vouchers. This increased demand can help mitigate some of the risks associated with vacancy and tenant turnover.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 73010 is moderate. While there are considerable challenges related to tenant turnover and vacancy exposure, the high renter share provides a buffer that can help stabilize the investment over time.
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.