Location: Kingfisher County, OK | Metro: Enid, OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,250 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
U.S. Census Bureau data (2024)
The ZIP code 73056 is situated in an area where the population stands at 455 individuals, with 15.0% of them being renters. This indicates that while there is a segment of the population renting, it is not a renter-heavy area. The median household income for this ZIP is $61,568, which provides a baseline for understanding the financial capacity of potential tenants.
To assess the depth of voucher demand, we need to compare the median income to the Fair Market Rent (FMR), which is set at $920 for fiscal year 2024 in this ZIP code. The FMR represents the maximum amount of rent that a voucher holder can pay, and it is crucial for determining the affordability of housing for those using vouchers. Given the median household income, typical market rents would consume a significant portion of local incomes, but exact figures are not provided. However, it's important to note that voucher holders often have lower incomes than the median, making the FMR a critical benchmark.
In ZIP 73056, landlords should expect tenants who rely on Section 8 vouchers to be individuals or families whose incomes are less than 50% of the area median income. This means that voucher holders will likely be paying around $920 per month in rent, which is the FMR for the area. Landlords must ensure their rental properties meet the housing quality standards required by the Section 8 program to qualify for voucher tenants.
The kind of tenant profile a landlord in ZIP 73056 should anticipate includes individuals and families who are dependent on government assistance to cover housing costs. These tenants will be looking for affordable housing options that fit within the parameters of their vouchers. While the area is not dominated by homeowners, the relatively low percentage of renters suggests that competition for voucher tenants could be fierce among landlords who accept Section 8.
Given the FMR of $920, landlords should price their units accordingly to attract voucher holders. They should also prepare to undergo regular inspections and comply with maintenance requirements to maintain eligibility in the Section 8 program.
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.