Location: Washita County, OK | Metro: Blaine County, OK
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 | $670 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,530 |
| 5 Bedrooms | $1,775 |
| 6 Bedrooms | $1,988 |
| 7 Bedrooms | $2,147 |
| 8 Bedrooms | $2,254 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $125,352 | 0.73% | D |
| 3BR | $1,270 | $229,629 | 0.55% | F |
| 4BR | $1,530 | $319,417 | 0.48% | F |
U.S. Census Bureau data (2024)
The median income in Weatherford, Oklahoma, represented by ZIP code 73096, stands at $59,138. This figure plays a critical role in understanding the local rental market dynamics, especially when juxtaposed against the market rate of $808 per month for renting an apartment or house, as reported by the Census Bureau's American Community Survey (ACS).
A household earning the median income would find it challenging to cover the $808 market rate, particularly without assistance. The Federal Market Rent (FMR) for the area, which is the standard used for determining the payment amount for Section 8 vouchers, is set at $940 per month for fiscal year 2026. This higher figure underscores the financial strain on local renters who might need to rely on government assistance to secure housing.
With 51.2% of the population being renters and a total population of 14,364, the competition among landlords in Weatherford is likely intense. The affordability gap between the median income and both the market rate and the FMR suggests that many renters may struggle to pay market rates without some form of subsidy. This scenario creates a significant challenge for landlords aiming to attract tenants willing to pay the full market rate.
For landlords considering their strategy regarding voucher tenants versus those paying cash, the data points to a clear conclusion. Given the high proportion of renters and the financial realities faced by many households, accepting Section 8 vouchers can be a viable option to ensure steady occupancy. While the voucher payment standard is slightly above the market rate, the guaranteed monthly income and reduced vacancy risk make it a stable choice. However, landlords should also be prepared to compete with properties offering lower rates to attract cash-paying tenants, highlighting the importance of maintaining competitive pricing and property quality.
In summary, landlords in Weatherford must balance the benefits of voucher stability with the potential for higher cash rents, while keeping an eye on the overall affordability of the market to maintain occupancy levels. Understanding these dynamics is crucial for making informed decisions about rental strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.