Location: Oklahoma City, 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 | $860 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,140 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,550 | $257,011 | 0.6% | D |
U.S. Census Bureau data (2024)
The ZIP code 73014 is home to 1,348 residents, with 17.5% being renters. This indicates that the majority of the population (82.5%) are homeowners, suggesting that this is not a renter-heavy area. The median household income in this ZIP is $81,875, which provides a benchmark for assessing the affordability of rental units.
A market rent of $950 in this area consumes approximately 14.6% of the median household income. This calculation is derived from dividing the monthly rent by the annual income and multiplying by 12 to get a percentage: ($950 / $81,875) * 12 = 14.6%. While this percentage is relatively low, it still represents a significant portion of the average income.
Comparing the market rent to the Fair Market Rent (FMR) of $1080, as set for FY 2024, shows that the current market rent is below the FMR threshold. This means that landlords can potentially charge closer to the FMR without pricing out tenants who rely on housing vouchers. However, it also suggests that there might be less demand for higher-priced rentals, especially among those relying on government assistance.
In terms of the tenant profile, landlords in ZIP 73014 should expect a mix of tenants. Those who are part of the Section 8 program will have their rent subsidized, typically up to the FMR. Tenants not using vouchers will likely be individuals or families with incomes above the median, capable of paying the market rate but still benefiting from an affordable rental environment relative to their income.
To conclude, while the presence of Section 8 tenants is possible, the overall rental market in ZIP 73014 is dominated by homeowners. Landlords should focus on attracting tenants with stable incomes who can afford the current market rents without relying heavily on subsidies. The lower percentage of income required for market rent makes this ZIP attractive for both voucher users and non-voucher users, but the latter group will likely form the bulk of potential tenants given the homeowner-dominated 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.