Location: Pottawatomie County, 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 | $920 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,650 |
| 4 Bedrooms | $1,860 |
| 5 Bedrooms | $2,158 |
| 6 Bedrooms | $2,417 |
| 7 Bedrooms | $2,610 |
| 8 Bedrooms | $2,741 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,220 | $224,073 | 0.54% | F |
| 3BR | $1,650 | $316,595 | 0.52% | F |
| 4BR | $1,860 | $444,447 | 0.42% | F |
| 5BR | $2,158 | $634,221 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 73026, located in Norman, OK, presents a dynamic rental market that reflects a balance between supply and demand. The Fair Market Rent (FMR) for the area, set at $1150 for fiscal year 2024, aligns closely with the actual market rent of $1,219 as reported by the Census Bureau's American Community Survey. This suggests that the rental prices are fairly stable and reflective of what tenants are willing to pay.
The low price-cut share of 0.2% indicates that landlords are not frequently lowering their rents to attract tenants, which is a sign that the demand for rental properties is steady. While the days on market (DOM) for listings is not available, the minimal need for price adjustments implies that units are likely to be rented relatively quickly, further supporting the idea that demand is robust.
The median home value of $331,846 provides insight into the overall housing market in Norman. This figure is indicative of the local economy and can influence rental market dynamics. Homeowners who have significant equity in their properties might be less inclined to sell, thus keeping the rental supply steady and preventing an oversupply situation that could depress rents.
The 5.8% renter share is notably low, suggesting that most residents in Norman own their homes. However, this also means that there is a segment of the population that remains reliant on rental properties, creating a consistent demand for rentals. Despite the high owner-occupancy rate, the rental market still maintains its vitality due to the presence of students, young professionals, and others who prefer renting over buying.
In summary, ZIP 73026 exhibits a rental market where demand meets supply effectively, with little indication of either significantly outpacing the other. The low renter share points to a community primarily composed of homeowners but also highlights a persistent subset of renters, ensuring that the rental market remains active and competitive. Landlords and small-portfolio investors should find this environment conducive to maintaining steady occupancy rates and rental incomes.
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.