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 | $990 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,780 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,310 | $198,167 | 0.66% | D |
| 3BR | $1,780 | $300,669 | 0.59% | F |
| 4BR | $1,990 | $930,422 | 0.21% | F |
| 5BR | $2,308 | $1,971,470 | 0.12% | F |
U.S. Census Bureau data (2024)
A skeptical investor might question whether the Fair Market Rent (FMR) of $1,200 for ZIP code 73116 in Oklahoma City, OK, for fiscal year 2024, will adequately cover the mortgage on a home priced at $320,249. The FMR is a guideline set by HUD for determining payment standards for rental housing in the Section 8 program. To assess if it can cover the mortgage, we need to consider the typical mortgage rate and term. Assuming a 30-year fixed-rate mortgage at an average interest rate of 5%, the monthly principal and interest payment on a $320,249 home would be approximately $1,730. Therefore, the FMR of $1,200 would not cover the entire mortgage payment, leaving a shortfall of about $530 per month.
The second objection is regarding the level of renter demand in ZIP 73116, which stands at 31.6%. This percentage indicates that a significant portion of the population is租房需求。然而，31.6%的租户需求并不算特别高或特别低。这表明市场中存在足够的租户来填充房产，但可能需要有效的营销策略和管理来吸引和保留租户。
最后，投资者可能会质疑Section 8住房券是否能跟上市场租金水平，目前市场租金为$1,727。虽然Section 8计划旨在帮助低收入家庭支付租金，但其支付标准通常低于市场租金。在ZIP代码73116，Section 8的支付标准为$1,200，这意味着房东需要自掏腰包填补剩余的$527租金差额。此外，住房券计划的支付标准并不是每年都会调整，因此可能无法完全跟上市场租金的增长。
综上所述，尽管ZIP代码73116提供了参与Section 8计划的机会，但投资者需要注意的是，Fair Market Rent可能不足以覆盖整个房屋贷款，同时需要评估市场的租户需求，并意识到Section 8支付标准可能低于市场租金水平。
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.