Location: Washita 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 | $770 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,420 |
| 5 Bedrooms | $1,647 |
| 6 Bedrooms | $1,845 |
| 7 Bedrooms | $1,993 |
| 8 Bedrooms | $2,093 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $46,029 | 2% | A+ |
| 3BR | $1,180 | $117,742 | 1% | B |
U.S. Census Bureau data (2024)
ZIP code 73015, located in Carnegie, OK, within the Washita County, OK metro area, presents a unique profile when compared to typical ZIP codes in the county. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $940. However, ZIP 73015's market rent stands significantly lower at $583. This indicates that 73015 could be considered a value pocket within the metro area, offering rental properties at a price point that is well below the established FMR.
The median home value in ZIP 73015 is $74,201, which is notably lower than what might be expected in the broader Washita County context. This further supports the classification of 73015 as a value pocket, where property investments can be made at a lower initial cost compared to surrounding areas. The lower home values combined with a higher-than-average renter share of 26.1% suggest that this ZIP code may attract a significant number of tenants who are eligible for Section 8 housing assistance. Such a combination often signals a prime location for landlords and small-portfolio investors looking to leverage government subsidies to offset lower rents.
In contrast to typical ZIP codes in Washita County, ZIP 73015's metrics do not align with those of a mid-tier neighborhood or a premium sub-market. A premium sub-market would likely exhibit higher home values and closer alignment with the metro FMR. Therefore, it is reasonable to infer that 73015 offers an opportunity for investors seeking to capitalize on the financial benefits of Section 8 while operating in a lower-cost environment.
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.