Section 8 Fair Market Rent (FMR) for ZIP 73040 - 2027

Location: Blaine County, OK | Metro: Oklahoma City, OK HUD Metro FMR Area

Investment Score for ZIP 73040

N/A

Monthly Rent (2BR)

$1,100

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$840
1 Bedroom	$860
2 Bedrooms	$1,100
3 Bedrooms	$1,360
4 Bedrooms	$1,510
5 Bedrooms	$1,752
6 Bedrooms	$1,962
7 Bedrooms	$2,119
8 Bedrooms	$2,225

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
3BR	$1,360	$151,098	0.9%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,349

Median Household Income

$61,328

Housing Units

725

Renter Percentage

26.1%

Occupancy Rate

74.6%

Renter Occupied

141

The town located in ZIP code 73040, Oklahoma, is characterized by a modest cost of living and a rental market that is influenced by both federal housing programs and local economic conditions. The area's rental landscape is particularly interesting due to the presence of the Section 8 program, which plays a significant role in the housing affordability equation.

The Fair Market Rent (FMR) for ZIP 73040 as determined by HUD for fiscal year 2024 is set at $920. This figure represents the maximum amount that a Section 8 voucher holder can pay towards their monthly rent, making it a critical benchmark for landlords participating in the program.
The average market rent in ZIP 73040, according to the latest Census American Community Survey (ACS) data, stands at $969. This indicates that market rents slightly exceed the FMR, suggesting a potential for landlords to earn a bit above the subsidized rate when renting to non-voucher holders.
The median home value in ZIP 73040 is $137,115, which reflects a relatively affordable housing market suitable for first-time buyers and investors looking for entry-level properties.
Renters make up 26.1% of the housing units in ZIP 73040, indicating a substantial demand for rental properties. This percentage is important for understanding the local housing dynamics and the potential for rental investments.
The median income in ZIP 73040 is $61,328, providing insight into the financial capacity of the residents and the potential viability of various rental pricing strategies.

In summary, ZIP 73040 presents a balanced opportunity for landlords and small-portfolio investors. With the Fair Market Rent at $920 and the market rent slightly higher at $969, there is a clear indication that the rental market is stable and has room for slight premium over the subsidized rates. Given the median home value of $137,115 and a median income of $61,328, the area is attractive for investment due to its affordability and the potential for steady cash flow from both voucher and non-voucher tenants. The 26.1% renter share suggests a robust demand for rental properties, making it a favorable environment for those interested in rental real estate. However, it's crucial to monitor local economic trends and tenant demographics closely to ensure sustained profitability.

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.