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 | $780 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,570 |
| 5 Bedrooms | $1,821 |
| 6 Bedrooms | $2,040 |
| 7 Bedrooms | $2,203 |
| 8 Bedrooms | $2,313 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $850 | $73,945 | 1.15% | B |
| 2BR | $1,030 | $96,557 | 1.07% | B |
| 3BR | $1,400 | $128,232 | 1.09% | B |
| 4BR | $1,570 | $156,229 | 1% | B |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 73109, located in Oklahoma City, OK, within Oklahoma County, is characterized by a HUD Fair Market Rent (FMR) of $920 for FY 2024. This figure contrasts with the market rent, known as the Zillow Observed Rent Index (ZORI), which stands at $984. Given these numbers, landlords accepting Section 8 vouchers will experience marginal cash flow at the HUD FMR. To achieve positive cash flow, they must either manage expenses efficiently or seek premium units that can command higher rents.
The median home value in the area is $107,841, leading to a rent-to-price ratio of approximately 10.4%. This ratio indicates that rental income represents a significant portion of the property's value, making it an attractive option for investors seeking steady cash flow. However, it also suggests that the area might be more rental-oriented than homeownership-focused, given the relatively low median home value compared to the rent levels.
Note that the median Days on Market (DOM) is not applicable (N/A), and the share of listings making price cuts is a mere 0.2%. These statistics suggest that the local real estate market is stable, with minimal competition among sellers. The lack of significant price cuts further supports the notion that the area is conducive to long-term investment, particularly in rental properties.
In conclusion, the strongest angle for Section 8 investors in ZIP 73109 is the potential for steady cash flow, given the high rent-to-price ratio and the stable real estate market conditions. This makes it an ideal location for those looking to build a consistent income stream through rental 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.