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

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

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

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

Housing Authorities Serving ZIP 73040

Housing Authority of the City of Watonga (Watonga, OK)
Housing Authority of the City of Geary (Geary, OK)

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). 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.