Section 8 Fair Market Rent (FMR) for ZIP 73077 - 2027

Location: Payne County, OK | Metro: Noble County, OK

Investment Score for ZIP 73077

Monthly Rent (2BR)

$940

Median Price (2BR)

$83,829

1% Rule

1.12%

Annual Yield

13.46%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$770
2 Bedrooms	$940
3 Bedrooms	$1,300
4 Bedrooms	$1,450
5 Bedrooms	$1,682
6 Bedrooms	$1,884
7 Bedrooms	$2,035
8 Bedrooms	$2,137

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$940	$83,829	1.12%	B
3BR	$1,300	$175,980	0.74%	D
4BR	$1,450	$252,054	0.58%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,087

Median Household Income

$62,763

Housing Units

2,902

Renter Percentage

25.3%

Occupancy Rate

81.3%

Renter Occupied

597

The ZIP code 73077, located in Perry, OK, has a population of 6,087 residents. With 25.3% of the population being renters, this indicates a moderate rental market presence. The median household income stands at $62,763, which provides a baseline for understanding the economic conditions of potential tenants.

The average market rent in this area is $813 per month. To contextualize this figure, it represents approximately 13% of the median household income. This suggests that while rent is a significant expense, it remains manageable for the majority of residents given their income levels. However, when comparing the market rent to the Fair Market Rent (FMR) of $950 for the metro area (FY 2026), there is a discrepancy indicating that rents in ZIP 73077 are below the metro average, which could be advantageous for landlords looking to attract tenants.

The web search tool can provide insights into the specific demand for Section 8 housing vouchers in this area. However, based on the current data, landlords in ZIP 73077 should anticipate a mix of tenants, including those who rely on housing vouchers. Given the lower market rent compared to the FMR, landlords might find a higher proportion of voucher holders seeking affordable housing options.

To further refine expectations, landlords should consider the following:

Educational attainment: While not directly stated, areas with lower market rents often attract families with varying educational backgrounds, potentially impacting employment stability and income consistency.
Employment sectors: Perry's economy likely includes a mix of industries, but without specific data, we can infer that retail, healthcare, and government jobs could be prevalent, offering steady but modest incomes.
Tenant behavior: Landlords should prepare for a tenant base that values affordability and may prioritize rental units with lower costs, even if they receive housing assistance.

In summary, ZIP 73077 presents a balanced opportunity for landlords. While it is not dominated by homeowners, the rental market is moderately sized with a fair share of voucher demand. The relatively low market rent makes it attractive for families needing financial assistance, ensuring a steady flow of potential tenants willing to pay the going rate.

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.