Section 8 Fair Market Rent (FMR) for ZIP 73024 - 2027

Location: Washita County, OK | Metro: Custer County, OK

Investment Score for ZIP 73024

N/A

Monthly Rent (2BR)

$980

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$750
1 Bedroom	$900
2 Bedrooms	$980
3 Bedrooms	$1,300
4 Bedrooms	$1,470
5 Bedrooms	$1,705
6 Bedrooms	$1,910
7 Bedrooms	$2,063
8 Bedrooms	$2,166

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
3BR	$1,300	$144,059	0.9%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

681

Median Household Income

$58,102

Housing Units

269

Renter Percentage

18.9%

Occupancy Rate

84.4%

Renter Occupied

ZIP code 73024, located in Oklahoma, is a region where the real estate market reflects a blend of affordability and stability, particularly important for Section 8 landlords and small-portfolio investors. Here's a concise analysis based on key metrics.

The Fair Market Rent (FMR) for ZIP 73024 is set at $960 for the fiscal year 2026, indicating the maximum rental amount that can be charged for a two-bedroom apartment under the Section 8 program.
The average market rent for the area, as reported by the Census American Community Survey (ACS), stands at $938. This suggests that the market rent is slightly below the FMR, making it a feasible area for Section 8 participation without significant loss in potential income.
The median home value in ZIP 73024 is $127,128, which is relatively low compared to many other regions in the United States, providing opportunities for investment at lower capital costs.
Renters make up 18.9% of the population, indicating a moderate demand for rental properties but also suggesting that there is room for growth in the rental sector.
The median income for residents in this ZIP code is $58,102, which is crucial for understanding the financial capacity of potential tenants and aligning it with the rental rates and Section 8 limits.
The data point for Days on Market (DOM) is currently unavailable, which could indicate either a well-balanced market or a lack of recent sales activity to analyze.

Synthesizing these points, investors in ZIP 73024 can expect a stable rental market with slight alignment between market rents and Section 8 FMRs. The low median home values present an opportunity for acquiring investment properties at a lower cost, while the median income level supports the viability of both market and subsidized rentals. However, the absence of DOM data means caution should be exercised when evaluating property turnover and market liquidity. Overall, ZIP 73024 offers a balanced environment for real estate investments, especially for those interested in the Section 8 program.

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.