Location: Lincoln 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 | $870 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $187,116 | 0.55% | F |
| 3BR | $1,370 | $304,089 | 0.45% | F |
| 4BR | $1,560 | $500,068 | 0.31% | F |
U.S. Census Bureau data (2024)
ZIP code 73054, located in Luther, OK, falls within the Lincoln County, OK HUD Metro FMR Area. Its Fair Market Rent (FMR) for FY 2024 is set at $920, while the average market rent stands at $798. The median home value in 730554 is $293,277, and it has an 8.9% renter share. These figures provide insights into how this ZIP compares to typical areas within the Lincoln County, OK HUD Metro FMR Area.
The FMR of $920 in ZIP 73054 exceeds the market rent of $798, indicating that the government subsidy levels are higher than what tenants might typically pay in the open market. This suggests a potential opportunity for landlords who can leverage the higher subsidy rates to offset lower market rents. However, the median home value of $293,277 is relatively modest compared to some larger metropolitan areas, but it aligns well with the overall housing affordability profile of Lincoln County, OK.
The 8.9% renter share in 73054 is noteworthy. In many metropolitan areas, a higher percentage of renters often correlates with lower median home values, as seen in urban centers where rental properties dominate the market. However, in 73054, despite having a higher-than-average renter share, the home values remain competitive. This divergence could signal that 73054 is a value pocket within the Lincoln County, OK HUD Metro FMR Area, particularly attractive for Section 8 participants due to the favorable balance between rent subsidies and market rents.
To further contextualize these figures, it's important to compare them against the broader Lincoln County metrics. If the county-wide renter share is significantly lower, and the median home values are higher, then ZIP 73054 indeed stands out as a value pocket. Landlords and small-portfolio investors should consider the potential for steady occupancy rates and stable cash flows in this area, given the alignment of Section 8 subsidies with local market conditions.
Investors looking to maximize their returns on investment should also consider the possibility of leveraging the higher FMR to attract and retain tenants who qualify for Section 8 assistance. This strategy can be especially effective if the surrounding ZIP codes have similar or higher home values but lower renter shares, making 73054 a unique and potentially lucrative niche within the Lincoln County, OK HUD Metro FMR Area.
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.