Location: Caddo County, OK | Metro: Caddo County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,200 |
| 5 Bedrooms | $1,392 |
| 6 Bedrooms | $1,559 |
| 7 Bedrooms | $1,684 |
| 8 Bedrooms | $1,768 |
U.S. Census Bureau data (2024)
The ZIP code 73033 is a modest-sized area with a population of 553 residents. Within this community, 23.4% of the residents are renters, indicating a relatively small but present rental market. The median household income in this ZIP code is $60,938, which provides a baseline for assessing the financial capacity of potential tenants.
The typical market rent in ZIP 73033 is $727 per month. This figure represents approximately 14.5% of the median household income when considering an annual basis. Given that the Fair Market Rent (FMR) for the area is set at $960 for fiscal year 2026, it's evident that the current market rent is below the FMR threshold, suggesting that landlords could potentially adjust their rents upwards without alienating the tenant pool.
To further understand the depth of voucher demand, let's compare the market rent to the FMR. At $727, the typical rent is about 75.7% of the FMR. This means that tenants with Section 8 vouchers could easily cover the remaining amount, making them viable candidates for properties in this ZIP code. However, the lower percentage of renters indicates that the overall demand for Section 8 vouchers might be less intense compared to areas with higher percentages of renters.
A landlord in ZIP 73033 should expect tenants who are likely to benefit from housing assistance programs due to the relatively high cost of living relative to income. The typical tenant would require a voucher to bridge the gap between their income and the market rent, especially if they aim to live closer to the FMR. With the FMR being $960, a landlord could attract tenants who have a voucher covering up to this amount, leaving a smaller portion for the tenant to pay out-of-pocket.
In summary, while ZIP 73033 is not heavily dominated by renters, there is a significant opportunity for landlords to cater to a tenant pool that relies on Section 8 vouchers. The current market rent is comfortably below the FMR, allowing for flexibility in pricing and attracting tenants who need assistance to afford housing. Landlords can expect to find tenants who are financially responsible and willing to pay their share of the rent, supported by government subsidies to meet the total rental cost.
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.