Location: Caddo County, OK | Metro: Grady County, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 73092 in fiscal year 2024 is set at $890. This figure represents the payment standard for landlords participating in the Section 8 Housing Choice Voucher program. It's important to note that this is not the amount you can charge as rent; it's the maximum amount the federal government will reimburse for housing assistance.
In comparison, the average market rent for ZIP 73092, according to the Census Bureau's American Community Survey, is $765. This suggests that the FMR is higher than the typical rent in the area, which could be beneficial for landlords as it provides a buffer against potential rent shortfalls.
The renter share in ZIP 73092 stands at 26.8%. This indicates that nearly a quarter of the residents are renters, creating a steady demand for rental properties. If you're considering your first Section 8 rental property in this area, this demand suggests that there is a reasonable chance of finding tenants who qualify for the voucher program.
The median home value in ZIP 73092 is $133,387. This figure gives you an idea of the acquisition cost for a property in this area. When evaluating whether to enter the Section 8 market, ensure that the acquisition cost aligns with your investment goals and that the property meets the necessary standards for the program.
Before making a decision, verify that the property you are considering meets the Housing Quality Standards (HQS). These standards are essential because they determine whether a property is eligible for the Section 8 program. Ensuring compliance with HQS will prevent any delays or issues with getting approved for the program.
Data Sources: FMR data from HUD (2027). 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.