Location: Caddo County, 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 | $820 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $110,506 | 0.96% | C |
| 3BR | $1,360 | $202,228 | 0.67% | D |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 73047, which encompasses Hinton, OK, in Caddo County, operate based on specific financial metrics designed to ensure affordability and fairness. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this ZIP code for FY 2024 is set at $920. This figure is crucial because it represents the maximum amount that the housing authority will pay to landlords participating in the Section 8 program.
In contrast, the local market rent for a two-bedroom unit in ZIP 73047, according to Census ACS data, averages at $897. This means that the SAFMR is slightly higher than the average market rent, potentially offering landlords a modest cushion above the typical rental rates.
A landlord should understand that the actual reimbursement received from a voucher includes the tenant's portion of the rent plus any utility allowances. The tenant is responsible for paying approximately 30% of their adjusted income towards rent. If we assume an average adjusted income for a tenant in this area, they might contribute around $276 per month towards the rent, based on a hypothetical income level where 30% would equal this contribution.
The remaining portion of the rent is covered by the housing authority, up to the SAFMR limit. In this case, the housing authority would pay the difference between the tenant's contribution and the SAFMR, which is $644. However, if the total rent plus utilities exceeds the SAFMR, the tenant must make up the difference. For instance, if the total cost including utilities is $950, the landlord would receive $920 from the housing authority and the tenant would need to cover the additional $30.
The utility allowance varies but is typically a fixed amount per bedroom. For a two-bedroom apartment, let’s assume a utility allowance of $200. This allowance is paid directly to the landlord by the housing authority and is in addition to the rent reimbursement. Therefore, the total reimbursement a landlord could expect per month from a voucher holder for a two-bedroom apartment would be the sum of the tenant's portion and the utility allowance, totaling $844.
Given these figures, landlords in ZIP 73047 can expect a reimbursement gap or surplus. With the SAFMR at $920 and the typical market rent at $897, there is a potential surplus of $23 per month before accounting for the utility allowance. Including the utility allowance, the total surplus becomes $223. This surplus provides landlords with a margin above the average market rent, making participation in the Section 8 program financially viable.
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.