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 | $820 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $890 | $68,776 | 1.29% | A |
| 2BR | $1,080 | $135,792 | 0.8% | D |
| 3BR | $1,460 | $193,897 | 0.75% | D |
| 4BR | $1,640 | $250,667 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 73127 in Oklahoma City, OK, presents a unique balance between yield and stability for real estate investors. According to the latest Fair Market Rent (FMR) data for fiscal year 2024, the FMR for a one-bedroom apartment is set at $950. This figure contrasts sharply with the market rent price of $1,198, indicating a potential yield advantage when properties are leased at market rates.
However, the median home value in ZIP 73127 stands at $189,818, which is a significant investment for any landlord or small-portfolio investor. The rental market's composition is also noteworthy, with 57.8% of residents being renters. This percentage suggests a stable demand for rental properties but lacks the data on days on market (DOM), which would provide insight into how quickly properties can be rented out.
The median household income in this area is $44,925, which is an important factor for assessing the financial stability of tenants. While this income level is lower compared to some other regions, it still supports a reasonable rental market, particularly for properties priced closer to the FMR rather than the higher market rate.
To classify ZIP 73127, it leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The strong rental demand indicated by the high percentage of renters and the ability to charge above the FMR suggest decent cash flow opportunities. However, the lack of day DOM data and the relatively lower median income imply that while the market is stable, it may not offer the rapid turnover and high profit margins typical of flip markets. Investors should focus on properties that can be rented close to the FMR to ensure they are accessible to the majority of local tenants and can generate consistent, reliable income.
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.