Section 8 Fair Market Rent (FMR) for ZIP 73034 - 2027

Investment Score for ZIP 73034

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	$1,040
1 Bedroom	$1,130
2 Bedrooms	$1,370
3 Bedrooms	$1,860
4 Bedrooms	$2,080
5 Bedrooms	$2,413
6 Bedrooms	$2,703
7 Bedrooms	$2,919
8 Bedrooms	$3,065

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,130	$154,185	0.73%	D
2BR	$1,370	$196,289	0.7%	D
3BR	$1,860	$358,655	0.52%	F
4BR	$2,080	$491,283	0.42%	F
5BR	$2,413	$694,421	0.35%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 73034 (Edmond, OK) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 73034 is set by HUD for 2026. The FMRs for various unit types are as follows: - 0BR: $1030 - 1BR: $1120 - 2BR: $1370 (which is 15.0% of the median household income) - 3BR: $1840 - 4BR: $2040 To understand how these FMRs compare to actual rents, we need to consider the occupancy rate and the renter percentage. With an occupancy rate of 92.4%, it indicates that the market is relatively tight, meaning there is a high demand for housing units. Given that 25.8% of the population are renters, the rental market is significant but not overwhelming. One key constraint for voucher holders is that landlords can choose whether to accept Section 8 vouchers. In a tight market like Edmond, landlords might be more selective about accepting vouchers due to the high demand for rentals. Additionally, the FMRs represent the maximum amount that a voucher holder can pay, which could limit their options if actual rents exceed these figures. #### Affordability & Renter Profile The median household income in ZIP code 73034 is $109,700, which is quite high compared to the national average. This suggests that the area is affluent, with residents likely having higher disposable incomes. However, the FMR for a 2BR unit is only $1370, which is just 15.0% of the median income. This makes renting a 2BR unit affordable for most residents, even those on lower incomes. Given the high median income and the relatively low FMRs, it’s reasonable to assume that the typical renter in this ZIP code is likely to be a family or individual who earns below the median income but still above the poverty line. The high occupancy rate also indicates that there is little excess supply, making it a competitive market for both renters and landlords. #### Investor Angle From an investor perspective, the price-to-FMR ratio provides insight into the potential profitability of properties in this ZIP code. The Zillow median price for a 2BR home is $193,886, while the FMR is $1370. This gives us a price-to-FMR ratio of 11.8x, which means that the purchase price of a property is significantly higher than what a tenant with a Section 8 voucher could afford. For an investor to achieve cash flow positivity, they would need to ensure that the rental income from a Section 8 voucher covers the mortgage payments, maintenance costs, and other expenses. Given the high purchase price and the relatively low FMR, achieving cash flow positivity would be challenging unless the investor can secure a property with a mortgage payment well below the FMR. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Since the FMR for smaller units (0BR and 1BR) is lower, investing in these types of units might be more feasible for achieving cash flow positivity. For example, a 0BR unit with an FMR of $1030 might be easier to manage financially than a 2BR unit with an FMR of $1370. 2. **Consider Secondary Markets**: While the primary market in Edmond is tight, there might be opportunities in secondary markets or areas with slightly lower median incomes where the FMRs are closer to the actual rental prices. This could provide better returns and cash flow for investors. #### Bottom Line For investors focusing specifically on Section 8 vouchers, the recommendation for ZIP code 73034 is to **Skip**. The high purchase prices relative to the FMRs make it difficult to achieve cash flow positivity. Additionally, the tight market and high competition for rentals suggest that landlords might be less inclined to accept vouchers, further complicating the investment strategy. However, for investors willing to explore alternative strategies such as focusing on smaller units or looking at secondary markets within the same county, there might be opportunities to find more affordable properties that align better with FMRs. Nonetheless, the overall recommendation remains cautious given the current dynamics.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.