Location: Washita County, OK | Metro: Kiowa County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $700 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 73041, which is set at $940 for the metro area fiscal year 2026, represents the maximum amount that a landlord can charge under the Section 8 program. This is the payment standard, meaning it's the benchmark used by the housing authority to determine the rent subsidy for tenants. However, it's important to note that this does not necessarily reflect the actual rent that tenants in the area pay.
To provide context, the average rent for the area, according to the Census American Community Survey (ACS), is $691. This figure shows that the FMR is significantly higher than the typical market rent, offering landlords an opportunity to receive a higher rate than they might otherwise. The difference between the FMR and the local rent average indicates a potential profit margin for those who qualify under the Section 8 program.
The renter share in ZIP code 73041 is 22.9%, which suggests a moderate level of demand for rental properties. Given this percentage, landlords can expect a reasonable number of tenants interested in their property, particularly those seeking assistance through the Section 8 program. While this doesn't guarantee occupancy, it does indicate a steady pool of potential renters.
Note that the acquisition cost for rental properties in this area is marked as N/A, which means there isn't specific data available on the purchase price of homes. However, this doesn't impact the decision to participate in the Section 8 program, as landlords are primarily concerned with the monthly rental income rather than the initial investment.
Before deciding to enroll a property in the Section 8 program, landlords should verify that the property meets the required quality standards set by the housing authority. These standards ensure that the home is safe, decent, and sanitary, and failing to meet them could result in rejection or penalties. Ensuring compliance with these criteria will facilitate a smoother application process and help avoid unnecessary complications.
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.