Location: Oklahoma City, 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 | $800 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,050 |
| 3 Bedrooms | $1,420 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $860 | $101,427 | 0.85% | C |
| 2BR | $1,050 | $127,086 | 0.83% | C |
| 3BR | $1,420 | $201,317 | 0.71% | D |
| 4BR | $1,600 | $275,807 | 0.58% | F |
U.S. Census Bureau data (2024)
The ZIP code 73036, located in El Reno, OK, is primarily a renter-heavy area with significant demand for Section 8 housing vouchers. With a population of 21,387, 37.1% of residents are renters, indicating a substantial portion of the community relies on rental properties. This makes it an ideal location for landlords and small-portfolio investors looking to attract tenants utilizing Section 8 vouchers.
The median household income in ZIP 73036 stands at $59,915, while the market rent averages $1,278 per month. This means that typical rent consumes approximately 21.3% of the local median income. The Fair Market Rent (FMR) for the area, set at $930 per month for FY 2024, is significantly lower than the market rent, suggesting that many voucher holders will struggle to cover the difference between the FMR and the actual rent costs.
To put this into perspective, the average market rent of $1,278 is 137.4% higher than the FMR of $930. Landlords must be prepared to accept a subsidy rate that covers only part of the total rent, with tenants paying the remainder. Given the disparity between the FMR and market rent, landlords should anticipate that their tenants may face financial challenges beyond just covering rent, such as utilities and other living expenses.
A landlord in ZIP 73036 can expect to have tenants who are likely to be low-income individuals or families. These tenants might include single parents, elderly individuals, disabled persons, or those working in low-wage jobs. It's important for landlords to understand that these tenants rely heavily on the Section 8 program to afford housing. As such, they should be prepared to work closely with the local housing authority to ensure compliance with voucher requirements and to manage the expectations of both tenants and themselves regarding rent collection and property management.
In summary, ZIP 73036 is a renter-heavy area with strong demand for Section 8 vouchers. The high cost of market rent relative to the FMR indicates that landlords should prepare for a tenant pool that includes a significant number of low-income individuals and families, who will require a subsidy to cover a substantial portion of their monthly rent.
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.