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 | $59,270 | 1.5% | A+ |
| 2BR | $1,080 | $81,158 | 1.33% | A |
| 3BR | $1,460 | $118,089 | 1.24% | A |
| 4BR | $1,640 | $152,020 | 1.08% | B |
U.S. Census Bureau data (2024)
The dynamics of ZIP code 73129 in Oklahoma City, OK, reveal a significant affordability gap between the market rate for rent and the financial assistance provided through housing vouchers. The median household income stands at $46,670, while the market rate for rent (ZORI) is $1,209 per month. This means that without any form of subsidy, a typical household would spend nearly one-third of their annual income on rent alone, which is unsustainable.
In contrast, the Fair Market Rent (FMR) for ZIP 73129, as set for fiscal year 2024, is $940 per month. This figure represents the standard payment amount for housing vouchers and is significantly lower than the ZORI. A household receiving a voucher could therefore pay a more manageable rent, making it easier for them to cover other living expenses.
The rental market in ZIP 73129 is heavily populated, with 49.9% of the 20,014 residents being renters. This high percentage of renters suggests a competitive landscape for landlords, as they must balance the need to attract tenants with the realities of maintaining profitable properties. Given the disparity between the market rate and the voucher standard, landlords face a choice between accepting vouchers, which provide a steady but lower income stream, or focusing on cash-paying tenants who might be able to afford higher rents but are fewer in number due to the limited disposable income available to most households.
The takeaway for landlords is clear: accepting housing vouchers can help fill vacancies in a competitive rental market where many households cannot afford the market rate. However, it also means operating on a smaller profit margin compared to cash-paying tenants. Landlords should consider the trade-offs carefully, weighing the benefits of guaranteed occupancy against the lower rent payments associated with vouchers.
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.