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 | $920 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,840 |
| 5 Bedrooms | $2,134 |
| 6 Bedrooms | $2,390 |
| 7 Bedrooms | $2,581 |
| 8 Bedrooms | $2,710 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $139,125 | 0.87% | C |
| 3BR | $1,640 | $211,094 | 0.78% | D |
| 4BR | $1,840 | $278,114 | 0.66% | D |
U.S. Census Bureau data (2024)
The ZIP code 73068, located in Noble, OK, falls within the broader Oklahoma City, OK HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1,150. This figure is slightly below the average market rent of $1,227 in the same area, indicating that 73068 offers rental properties at a modest discount compared to the overall market.
The median home value in ZIP 73068 is $209,986, which is lower than many other ZIP codes in the Oklahoma City, OK HUD Metro FMR Area. The area has a substantial renter share of 24.8%, suggesting that a significant portion of residents prefer renting over owning homes. This combination of a below-average home value and a relatively high renter share could indicate that 73068 is an attractive area for Section 8 participants who seek affordable housing options.
In comparison to typical ZIP codes within the Oklahoma City, OK HUD Metro FMR Area, ZIP 73068 stands out as a potential value pocket. It offers lower rents and home values, making it a more budget-friendly option for both tenants and investors. However, the slightly higher-than-average renter share also suggests that there might be a concentration of renters who benefit from government assistance programs, such as Section 8.
While the exact figures for other ZIP codes within the metro area are not provided, the inference drawn from the specific data points indicates that 73068 could be particularly appealing to landlords and small-portfolio investors looking for areas where their investment properties can cater to a larger number of potential Section 8 tenants without incurring the costs associated with higher-priced neighborhoods.
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.