Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
The HUD Fair Market Rent (FMR) for ZIP code 73113 in Oklahoma City, OK, for fiscal year 2024 is set at $1080. This figure represents the maximum amount that landlords can charge tenants participating in the Section 8 Housing Choice Voucher program. However, without specific data on the current market rents in the area, it's challenging to provide a direct comparison. To determine if voucher tenants will cashflow at the FMR, marginally, or only with premium units, we would need to know how the FMR compares to the typical market rates.
The median home value in ZIP 73113 is not available, which makes deriving an exact rent-to-price ratio impossible. Nevertheless, understanding the rent-to-price ratio helps investors gauge the relative affordability of renting versus buying in the area. A higher ratio suggests renting is more cost-effective, potentially attracting more renters to the market.
Investors should also consider the Days on Market (DOM) and the percentage of listings that experience price cuts. These metrics indicate the competitiveness of the housing market and the challenges landlords might face in maintaining occupancy. Unfortunately, these figures are also unavailable for ZIP 73113.
In the absence of detailed market rent data, it's prudent for landlords and small-portfolio investors to assume that cashflowing at the HUD FMR of $1080 will be difficult unless they focus on premium units that offer better amenities and are in prime locations. Premium units can often command slightly higher rents, making them more viable options for Section 8 investors.
The strongest investor angle in ZIP 73113 appears to be stability. Given the lack of recent market fluctuations and the consistent demand for affordable housing, investors can expect steady returns over time, even if immediate cashflow is modest.
Data Sources: FMR data from HUD (2027).
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.