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 | $1,070 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,410 | $234,307 | 0.6% | D |
| 3BR | $1,910 | $362,183 | 0.53% | F |
| 4BR | $2,140 | $727,913 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 73103 is situated in a diverse part of Oklahoma City, OK, characterized by a relatively small population of 5,486 residents. Over two-thirds of the inhabitants, specifically 67.3%, are renters, indicating a strong demand for rental properties in the area. The median household income stands at $54,561, which suggests a middle-class community where many residents rely on affordable housing solutions. The median home value in ZIP 73103 is notably high at $348,845, reflecting the overall property values in the region.
From an investment perspective, the rent economics in ZIP 73103 are favorable. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,210, while the actual market rent, as measured by the Zillow Observed Rent Index (ZORI), is slightly lower at $1,155. This indicates that there is potential for rental properties to be priced competitively yet still remain profitable for investors.
Given these conditions, ZIP 73103 could appeal to both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent means that properties can attract tenants with Section 8 vouchers without requiring significant management involvement. On the other hand, hands-on investors looking to improve property values might find opportunities to renovate and increase rents closer to the FMR, thereby enhancing their returns. The substantial renter base and middle-income demographic provide a stable tenant pool for either strategy.
In summary, ZIP 73103 offers a balanced environment for real estate investment, with clear economic indicators supporting both passive and active investment approaches. The median home value and the percentage of renters point to a robust market, making it a viable option for those interested in Section 8 properties.
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.