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 | $890 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $111,457 | 1.06% | B |
| 3BR | $1,600 | $153,612 | 1.04% | B |
| 4BR | $1,790 | $191,552 | 0.93% | C |
U.S. Census Bureau data (2024)
The real estate market in ZIP 73110, Midwest City, OK, is currently characterized by a median home value of $143,511, indicating a relatively affordable housing market. With only 0.2% of listings having reduced their asking price, it's evident that sellers maintain strong pricing power, suggesting a resilient demand for properties at current values. The median days on market (DOM) stands at 19 days, which is quite low, further reinforcing the idea that homes are selling quickly, likely due to the attractive pricing relative to the area's income levels.
On the rental side, the Fair Market Rent (FMR) for ZIP 73110 is projected at $970 for fiscal year 2024, while the Zillow Observed Rent Index (ZORI) currently sits at $1,193. This disparity between FMR and market rents suggests that rental properties in the area are commanding a premium above government-set benchmarks. However, this premium is not indicative of an overheated market, but rather a reflection of the local economy's ability to support higher rents despite the relatively low home values.
For long-term hold investors, the setup implies a cautious approach. The data does not strongly suggest a robust appreciation thesis. Given the low percentage of price reductions and quick sales, there might be limited room for significant price increases in the near term. Instead, the focus should be on steady cash flow from rentals, leveraging the current market rents to achieve positive cash-on-cash returns. The difference between the FMR and ZORI provides a buffer that can help cover operational costs and still yield a profit, making it a viable strategy for those looking to build a portfolio in Midwest City.
Investors should also consider the broader economic context of the area. While the current metrics provide a snapshot of the market's health, external factors such as job growth, population trends, and infrastructure development will play critical roles in determining future property values. As such, maintaining a keen eye on these indicators will be essential for navigating the market effectively over the next 12-24 months.
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.