Section 8 Fair Market Rent (FMR) for ZIP 73013 - 2027

Investment Score for ZIP 73013

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	$1,300
1 Bedroom	$1,410
2 Bedrooms	$1,710
3 Bedrooms	$2,320
4 Bedrooms	$2,600
5 Bedrooms	$3,016
6 Bedrooms	$3,378
7 Bedrooms	$3,648
8 Bedrooms	$3,830

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,710	$205,248	0.83%	C
3BR	$2,320	$282,268	0.82%	C
4BR	$2,600	$403,064	0.65%	D
5BR	$3,016	$667,557	0.45%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 73013 (Edmond, OK) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 73013, as determined by HUD for 2026, is set at $1700 for a two-bedroom unit. This amount represents 17.9% of the median household income in Edmond, which stands at $113,870. However, the actual rent in the area is significantly higher. According to Zillow, the median price for a two-bedroom rental property is $205,445, which translates to a monthly rent of approximately $1712 based on a typical mortgage payment schedule. The price-to-FMR ratio is 10.1x, indicating that the actual market rent is more than ten times the FMR. This means that voucher holders face significant constraints in finding affordable housing within the ZIP code. They would likely struggle to find units renting at or below the FMR, as most landlords would prefer to charge market rates. #### Affordability & Renter Profile With a population of 58,023 and a renter percentage of 24.0%, the ZIP code has a relatively small number of renters compared to homeowners. The occupancy rate of 95.3% suggests that the rental market is quite tight, with very few vacant units available. Given the high median household income, the typical renter profile in this area would be someone with a relatively high income who can afford the higher-than-average rents. However, the presence of Section 8 vouchers indicates that there is also a segment of lower-income individuals seeking affordable housing options. The challenge for these individuals lies in the fact that the FMR is far below the actual market rent, making it difficult to secure housing without additional financial assistance. #### Investor Angle From an investor perspective, the ZIP code appears to be cash-flow negative at the FMR level. Given the actual market rent of around $1712 for a two-bedroom unit, an investor relying solely on FMR would not be able to cover their costs effectively. The FMR of $1700 is just slightly below the market rent, but considering the high price-to-FMR ratio, it is clear that the majority of landlords would not accept FMR as a fair rent. Therefore, the investment grade for properties in this ZIP code, particularly those targeting Section 8 voucher holders, is low due to the limited pool of potential tenants willing to pay only the FMR. #### Specific Actionable Insights 1. **Target Higher-Income Renters**: Since the FMR is significantly lower than the actual market rent, investors should focus on attracting higher-income renters who can afford the market rates. This could involve renovating properties to meet the expectations of more affluent tenants or offering amenities that justify the higher rent. 2. **Consider Mixed-Income Developments**: To balance the need for affordable housing with the realities of the market, developers might consider creating mixed-income developments where a portion of units are rented at or near FMR, while others are priced at market rates. This approach can help ensure financial viability while still providing some affordable housing options. 3. **Engage with Local Housing Authorities**: Investors should engage with local housing authorities to understand the demand for Section 8 vouchers in the area. If there is a significant unmet need, they might be able to negotiate higher rents or subsidies for units designated for voucher holders. #### Bottom Line Given the tight rental market and the high price-to-FMR ratio, the recommendation for Section 8-focused investors is to **skip** this ZIP code. The constraints faced by voucher holders in finding affordable housing and the low likelihood of achieving positive cash flow make it a challenging environment for such investments. Instead, investors should look for areas with a higher percentage of renters and a more favorable price-to-FMR ratio to ensure better returns and financial stability.

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.