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 | $970 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $119,523 | 1.07% | B |
| 3BR | $1,730 | $154,267 | 1.12% | B |
| 4BR | $1,950 | $235,329 | 0.83% | C |
U.S. Census Bureau data (2024)
The ZIP code 73105 is located in a diverse part of Oklahoma City, OK, with a total population of 5,900 residents. This neighborhood is characterized by a high rental rate, with 64.5% of its inhabitants being renters. The median household income in this area stands at $50,102, indicating a middle-class community. The median home value is $155,268, which is relatively affordable compared to other parts of the city.
When it comes to the economic landscape of renting in ZIP 73105, there is a notable gap between the Fair Market Rent (FMR) and the actual market rent. For the fiscal year 2024, the FMR is set at $1,140, whereas the market rent, as measured by the Zillow Observed Rent Index (ZORI), is $1,244. This suggests that landlords can expect to charge slightly above the FMR for their properties, but the difference is not substantial enough to provide significant profit margins without careful management.
In terms of suitability for investment, ZIP 73105 offers a mixed picture. For hands-off voucher operators who rely on government subsidies, the area's high rental rate and the availability of Section 8 vouchers make it a viable option. However, the narrow margin between FMR and market rent means that such operators must be cautious about maintaining occupancy rates and managing properties efficiently to avoid financial losses.
On the other hand, for hands-on value-add buyers looking to improve property values through renovations or upgrades, ZIP 73105 presents an opportunity. With a median home value of $155,268, there is potential to increase property values and rents if the neighborhood continues to see improvements in infrastructure and amenities. These investors should focus on areas where they can add value, such as upgrading units to command higher rents or converting homes into rental properties to capitalize on the strong demand for rentals in the area.
To summarize, ZIP 73105 is a middle-class neighborhood with a significant rental market. The rent economics suggest that while hands-off voucher operators can find success here, they must be vigilant about management practices. Meanwhile, hands-on investors have the potential to create value and profit through strategic investments and improvements.
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.