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 |
|---|---|---|---|---|
| 3BR | $1,640 | $220,979 | 0.74% | D |
U.S. Census Bureau data (2024)
The ZIP code 73090 encompasses a small residential area with a total population of 927 individuals. Only 11.2% of these residents are renters, indicating a primarily owner-occupied community. The median household income stands at $96,875, which is relatively high and suggests a prosperous demographic. The median home value in this area is $213,720, reflecting a modest but stable housing market.
Turning to the economic realities of renting, the Fair Market Rent (FMR) for ZIP 73090 as of the fiscal year 2024 is set at $920. This figure contrasts sharply with the Census ACS-reported market rent of $1,268, revealing a significant gap between government-subsidized rates and the actual rental prices landlords can command. This disparity presents both challenges and opportunities for landlords and small-portfolio investors considering the Section 8 program.
For hands-off voucher operators, ZIP 73090 may not be an ideal location due to the limited number of renters—only 11.2% of the population—and the potential for lower occupancy rates given the high proportion of homeowners. Moreover, the FMR is notably below the market rate, which could reduce profitability unless the property is already cost-efficient to manage.
In contrast, a hands-on value-add buyer might find ZIP 73090 more appealing. With the ability to renovate and improve properties, a hands-on approach could attract higher-paying tenants or even participate in the Section 8 program while maintaining a competitive edge in the local rental market. The opportunity to leverage the difference between FMR and market rents could provide a pathway to increased returns through enhanced property management practices and strategic investments in property improvements.
In summary, ZIP 73090 offers a unique blend of a high-income, owner-occupied environment with pockets of rental demand. While it may not be the best fit for passive investors relying solely on the Section 8 program, it presents a viable opportunity for active investors willing to engage in value-add strategies to capitalize on the market dynamics.
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.