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 | $1,170 |
| 1 Bedroom | $1,270 |
| 2 Bedrooms | $1,540 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,090 | $235,217 | 0.89% | C |
| 4BR | $2,340 | $366,170 | 0.64% | D |
U.S. Census Bureau data (2024)
In ZIP code 73128, the economics of Section 8 housing are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $1370 for the fiscal year 2024. This SAFMR is specific to this ZIP code, reflecting the unique rental market conditions here.
The local market rent for a two-bedroom unit, as indicated by ZORI (Zillow Observed Rent Index), is slightly lower at $1325. This means that landlords in ZIP 73128 can expect their Section 8 reimbursement rates to be competitive with the local market.
A landlord who accepts a Section 8 voucher will receive payment based on the SAFMR, but this amount includes the tenant's portion of the rent and utility allowances. Typically, the tenant is responsible for paying 30% of their adjusted income towards rent. For simplicity, let’s assume the tenant’s portion is around $411, which is approximately 30% of a household income of $1370 per month. This leaves the government to cover the remaining 70%, or roughly $959, of the rent.
In addition to the rent, utility allowances are also factored into the overall compensation. Utility allowances vary by region and season, but for ZIP 73128, we can estimate an average utility allowance of about $250 per month. This brings the total monthly reimbursement from the government to approximately $1209 ($959 rent + $250 utilities).
This reimbursement model ensures that landlords receive a stable income, even if it does not fully match the SAFMR. In ZIP 73128, the typical reimbursement gap for a two-bedroom apartment is $161 per month ($1370 SAFMR - $1209 reimbursement). However, given that the local market rent is slightly below the SAFMR, landlords might find the gap less impactful when compared to the broader market conditions.
To summarize, landlords in ZIP 73128 accepting a Section 8 voucher for a two-bedroom apartment should expect to receive around $1209 per month, which includes both the government-paid portion of the rent and utility allowances. This results in a reimbursement gap of $161 per month, but it remains competitive with the local market rent of $1325.
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.