Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,510 |
| 5 Bedrooms | $1,752 |
| 6 Bedrooms | $1,962 |
| 7 Bedrooms | $2,119 |
| 8 Bedrooms | $2,225 |
U.S. Census Bureau data (2024)
The ZIP code 73058 is not predominantly characterized by renters; only 6.7% of the population are renters, indicating that it is a homeowner-dominated area. This suggests that the demand for housing vouchers under the Section 8 program is likely to be lower compared to areas with higher percentages of renters.
Given the median household income is not available for this ZIP code, it's challenging to provide a precise comparison between income levels and market rents. However, we can infer that if the typical market rent aligns closely with the Fair Market Rent (FMR) of $920, then it would consume a significant portion of the local income, assuming a similar income range to nearby areas.
In the absence of specific income data, consider the broader context. If the FMR of $920 represents a typical rent, it could indicate a substantial financial burden for potential voucher holders, especially since the actual income figures are unknown. In many cases, the rental cost as a percentage of income can exceed 30%, which is generally considered affordable. Landlords in ZIP 73058 should prepare for tenants who might have limited disposable income beyond rent payments.
The expected tenant profile in this ZIP code would likely include individuals or families who rely on housing assistance due to low-income status. These tenants will need to manage their finances carefully, possibly allocating a larger share of their income towards rent. Landlords should be prepared to work with tenants who may require additional support in maintaining consistent rent payments.
While the exact financial impact of renting in ZIP 73058 cannot be quantified without income data, the analysis indicates a niche market for Section 8 tenants. The scarcity of voucher holders in this area means that landlords must balance the benefits of guaranteed rental income against the challenges of managing properties in a community where homeownership is more prevalent.
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.