Section 8 Fair Market Rent (FMR) for ZIP 73012 - 2027

Investment Score for ZIP 73012

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,440
1 Bedroom	$1,560
2 Bedrooms	$1,900
3 Bedrooms	$2,580
4 Bedrooms	$2,890
5 Bedrooms	$3,352
6 Bedrooms	$3,754
7 Bedrooms	$4,054
8 Bedrooms	$4,257

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,900	$213,344	0.89%	C
3BR	$2,580	$287,958	0.9%	C
4BR	$2,890	$400,629	0.72%	D
5BR	$3,352	$629,979	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 73012 (Edmond, OK) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 73012 (Edmond, OK) in 2026 indicate that the rent for a two-bedroom unit is set at $1870. This represents approximately 17.7% of the median household income of $126,659. However, the actual rental market dynamics show a significant disparity between these figures and the prevailing rents. The Zillow median price for a two-bedroom home in this area is $213,891, which translates into a price-to-FMR ratio of 9.5x. This suggests that the actual rental prices are much higher than the FMR, making it challenging for Section 8 voucher holders to find affordable housing. For instance, a voucher holder would only be able to cover about $1870 per month, while the average rental cost is likely to be much higher due to the high price-to-FMR ratio. #### Affordability & Renter Profile Given the median household income of $126,659, the rental market in Edmond is quite expensive. Only 19.1% of the population are renters, indicating a relatively small rental market compared to the overall population. The occupancy rate of 97.3% suggests that the rental market is tight, with very few vacant units available. This tight market condition implies that there is strong demand for rental properties, but the affordability issue is a significant constraint. The high median income and low percentage of renters suggest that those who do rent are likely to be individuals or families with higher incomes who can afford the premium rents. Therefore, the market is not particularly favorable for lower-income renters who rely on Section 8 vouchers. #### Investor Angle From an investor perspective, the ZIP code 73012 offers a mixed picture. While the rental market is tight and there is strong demand for properties, the actual rents are significantly higher than the FMR. This means that properties rented out at FMR levels might struggle to attract tenants, especially those relying solely on Section 8 vouchers. To determine if this ZIP code is cash-flow positive at FMR, we need to consider the typical rental rates and the potential for vacancy. Given the high price-to-FMR ratio, it is unlikely that an investor would achieve positive cash flow by renting at FMR levels. Instead, they would likely have to charge closer to the actual market rates, which are much higher. The investment grade for this ZIP code would be considered moderate to high risk. While there is strong demand, the limited number of voucher holders who can afford the FMR makes it less attractive for investors focused on Section 8 tenants. Additionally, the high median income and tight rental market suggest that competition for tenants is fierce, and investors would need to ensure their properties offer competitive amenities and quality to attract renters. #### Specific Actionable Insights 1. **Focus on Premium Properties**: Given the high median income and tight rental market, investors should focus on developing or acquiring premium rental properties that can command higher rents. This strategy aligns with the actual market conditions and the willingness of renters to pay above FMR. 2. **Consider Mixed-Income Developments**: Investors could explore mixed-income developments where a portion of the units are designated for Section 8 voucher holders, while others cater to higher-income renters. This approach helps balance the financial viability of the project and ensures some units remain accessible to lower-income families. 3. **Enhance Property Value**: To justify higher rents, investors should enhance the value of their properties through upgrades such as modern appliances, energy-efficient systems, and additional amenities like fitness centers or community spaces. This can help attract tenants willing to pay the market rates. #### Bottom Line For Section 8-focused investors, the ZIP code 73012 presents a challenging environment. The high price-to-FMR ratio and limited number of voucher holders make it difficult to achieve positive cash flow at FMR levels. Therefore, the recommendation for investors is to **Skip** this ZIP code if they are exclusively targeting Section 8 tenants. However, for investors willing to cater to a broader range of renters, including those with higher incomes, the ZIP code could still present opportunities, albeit with a higher risk profile. --- This analysis provides a comprehensive overview of the rental market dynamics, affordability issues, and investment considerations for ZIP code 73012 based on the provided data. It highlights the challenges faced by Section 8 voucher holders and suggests strategies for investors looking to navigate this market.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.