Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
The Fair Market Rent (FMR) for ZIP code 73085 in Oklahoma stands at $1200 for fiscal year 2024, indicating a stable rental market. The lack of available data on market rent, days on market (DOM), and median home value suggests that the rental sector is possibly underrepresented compared to homeownership. This inference is supported by the absence of specific percentages regarding the share of renters and the extent of price cuts landlords might be offering to attract tenants.
The undefined market dynamics, particularly around the share of price-cut rentals and DOM, imply that the rental market may not be as active or competitive as others. In markets where supply significantly outpaces demand, we typically see higher percentages of price-cut shares and longer DOM periods as landlords struggle to find tenants. Conversely, when demand exceeds supply, these figures tend to be lower, with rents often closer to the FMR or even above it due to competition among potential renters.
The unknown percentage of renters in ZIP 73085 could suggest that there is less immediate pressure on the rental market. However, it also points towards a potentially strong long-term housing pressure if the trend towards homeownership continues. Homeowners typically represent a more stable and permanent resident base, which can influence property values and the overall economic health of an area.
In summary, while the exact trajectory of the rental market in ZIP 73085 cannot be determined without additional data, the current snapshot indicates a market likely balanced towards homeownership. Landlords should consider the stability of the FMR and the potential for long-term investment growth in properties, given the apparent preference for owning over renting. Small-portfolio investors might find opportunities in both sectors but should focus on understanding local trends and the balance between rental and ownership pressures.
Data Sources: FMR data from HUD (2027).
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.