Location: Grady County, OK | Metro: Grady County, 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 | $770 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,480 |
| 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 | $1,100 | $169,382 | 0.65% | D |
| 3BR | $1,480 | $315,827 | 0.47% | F |
| 4BR | $1,840 | $405,876 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 73089, Tuttle, Oklahoma, for fiscal year 2024 is set at $970. This figure represents the payment standard for Section 8 housing vouchers, meaning the government will pay up to this amount per month for a qualified tenant's rent. However, it is important to note that this does not necessarily mean your rent will be $970; it could be higher if you believe the market justifies it, but the voucher holder would have to cover the difference.
In comparison, the average monthly rent in Tuttle, according to the Census Bureau's American Community Survey (ACS), is $1,077. This indicates that the FMR is slightly below the local average, suggesting that while you can charge more, doing so might make it harder for tenants to afford the additional costs beyond the voucher.
Tuttle has a 13.4% renter share, which means nearly one in every seven residents are renters. This relatively low percentage suggests there is limited competition among landlords for Section 8 tenants, but also implies that demand is steady. Given the modest population size, securing a steady stream of Section 8 tenants is feasible, though you should be prepared for potential fluctuations.
The median home value in Tuttle is approximately $326,223, indicating that property acquisition costs are moderate. If you are looking to purchase a property for a Section 8 rental, this price point should be considered alongside the FMR and local rent averages to ensure your investment aligns with expected returns.
Before committing to a Section 8 rental, it is crucial to verify the condition of the property. The Housing Quality Standards (HQS) must be met, which include ensuring the property is safe, decent, and sanitary. This step is essential because failing to meet these standards can lead to penalties or loss of tenancy.
In summary, the FMR of $970 for ZIP 73089 provides a benchmark for your Section 8 rental. With an average local rent of $1,077, you have some flexibility in pricing, but must consider the additional burden on tenants. The 13.4% renter share points to a stable but not overly competitive market, and the median home value gives you a sense of the investment cost. Ensure the property meets HQS to avoid future issues.
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.