Location: Oklahoma City, 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 | $1,110 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,470 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,470 | $181,248 | 0.81% | C |
| 3BR | $1,990 | $248,849 | 0.8% | D |
| 4BR | $2,240 | $328,489 | 0.68% | D |
| 5BR | $2,598 | $457,743 | 0.57% | F |
U.S. Census Bureau data (2024)
1290 is the Fair Market Rent (FMR) for ZIP code 73064 in Mustang, OK, for fiscal year 2024, setting a benchmark for rental properties eligible under the Section 8 program. 276,341 represents the median home value in the area, indicating a stable housing market. However, the market rent, or ZORI, stands at 1665, which is significantly higher than the FMR, suggesting a potential gap between what tenants can afford and what landlords might expect to earn without government assistance. 94,402 is the median income figure for the region, reflecting the economic standing of its residents. With a 20.1% renter share, it's clear that a notable portion of the population relies on rental housing, making the demand for affordable units strong. The 35-day DOM, or days on market, highlights how quickly homes are typically sold in this area, underscoring the brisk pace of the real estate market. Conversely, the 0.2% price-cut share shows that sellers rarely need to reduce their asking prices, further reinforcing the seller's market dynamics. Given these numbers, landlords should consider the benefits of participating in Section 8, where the guaranteed rental income at 1290 can provide steady cash flow despite the lower rate compared to market rents. The low price-cut share and quick sales indicate that there is little risk of property depreciation, and the high ZORI suggests that the market is robust enough to support various types of investments. In conclusion, for ZIP 73064, Section 8 remains a viable option for landlords looking for reliable tenancy and consistent income.
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.