Location: Murray County, OK | Metro: Murray County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $860 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The ZIP code 73032 is characterized by a significant rental population, with 36.4% of residents being renters. This indicates a notable presence of potential Section 8 tenants in the area. Given that the median household income stands at $53,125, we can assess the affordability of housing for these individuals. The market rent in this area is set at $1,045, which equates to approximately 19.7% of the median household income. This percentage suggests that the typical rent consumes nearly one-fifth of the average income, placing considerable pressure on the finances of renters.
Comparing the market rent to the Fair Market Rent (FMR) of $1,150, which is the amount determined by the U.S. Department of Housing and Urban Development (HUD) for the fiscal year 2026, we observe that the actual market rent is slightly below the HUD's FMR. This difference could imply that there is a moderate level of subsidy available for Section 8 tenants in this ZIP code, making it feasible for them to afford housing at market rates.
A landlord in ZIP 73032 can expect to attract tenants who rely on housing vouchers due to the relatively high proportion of renters and the income constraints faced by many residents. These tenants will likely have their rent partially covered by the government, reducing the financial risk associated with renting to lower-income individuals. However, landlords must still be prepared to navigate the administrative requirements and inspection processes that accompany accepting Section 8 tenants.
In conclusion, ZIP 73032 presents itself as a location with a substantial rental market and a corresponding demand for housing vouchers. With the typical rent eating up almost 20% of the median income, there is a clear need for assistance among renters. Landlords should prepare for a tenant pool that includes those utilizing Section 8 vouchers, ensuring they meet the necessary qualifications and understand the implications of such tenancy.
Data Sources: FMR data from HUD (2027). 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.