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 | $1,000 |
| 1 Bedroom | $1,090 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,320 | $116,437 | 1.13% | B |
| 3BR | $1,790 | $164,649 | 1.09% | B |
| 4BR | $2,010 | $202,574 | 0.99% | C |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 73114, located in Oklahoma City, OK, reveals several key points that can guide investment decisions. The HUD Fair Market Rent (FMR) for the area, set at $1100 for fiscal year 2024, is significantly lower than the Zillow Observed Rent Index (ZORI), which stands at $1,357. This indicates that voucher tenants will only cashflow marginally, if at all, unless landlords focus on premium units that can command higher rents.
To derive the rent-to-price ratio, we use the median home value of $159,387. Dividing the ZORI by the median home value gives us a ratio of approximately 0.85%, suggesting that rental income is relatively low compared to the value of the homes. However, this ratio is typical for areas where the housing market is balanced between renters and buyers.
The median Days on Market (DOM) for properties in this area is 46 days, and the share of listings that required a price cut is only 0.2%. These figures suggest that the rental market remains competitive, but there is little pressure on landlords to reduce rents to attract tenants. The strong demand for rentals, coupled with limited supply, supports the idea that landlords can maintain rents close to the ZORI without significant concessions.
In conclusion, the strongest investor angle in ZIP 73114 is likely to be stability. Given the consistent demand for rentals and the limited need for price reductions, investors can expect steady cashflows over time, even though initial cashflows might be marginal due to the disparity between HUD FMR and market rents.
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.