Section 8 Fair Market Rent (FMR) for ZIP 73134 - 2027

Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area

Investment Score for ZIP 73134

Monthly Rent (2BR)

$1,410

Median Price (2BR)

$141,435

1% Rule

Annual Yield

11.96%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,070
1 Bedroom	$1,160
2 Bedrooms	$1,410
3 Bedrooms	$1,910
4 Bedrooms	$2,140
5 Bedrooms	$2,482
6 Bedrooms	$2,780
7 Bedrooms	$3,002
8 Bedrooms	$3,152

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,160	$100,779	1.15%	B
2BR	$1,410	$141,435	1%	C
3BR	$1,910	$233,904	0.82%	C
4BR	$2,140	$424,884	0.5%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,522

Median Household Income

$66,307

Housing Units

4,797

Renter Percentage

86.4%

Occupancy Rate

90.2%

Renter Occupied

3,739

The ZIP code 73134 is located in Oklahoma City, OK, and it represents a dynamic residential market characterized by a strong presence of renters and moderate rental prices. This area offers opportunities for real estate investors looking to capitalize on the housing demand.

Fair Market Rent (FMR) for ZIP 73134 in fiscal year 2024 is set at $1250. This figure serves as a benchmark for rental pricing and indicates that properties within this range can be considered competitive.
The Zillow Observed Rent Index (ZORI) shows a market rent of $1,332. This suggests that the actual rental prices slightly exceed the FMR, providing a margin for landlords to potentially earn above the fair market rate.
The median home value in ZIP 73134 is $201,062. This relatively low median value makes property acquisition more affordable for investors compared to other areas in the city.
Renters constitute 86.4% of the population in this ZIP code. The high percentage of renters underscores the robust demand for rental properties, making it a favorable environment for landlords and small-portfolio investors.
The median income in ZIP 73134 is $66,307. This income level supports a steady flow of tenants who can afford the average rent, ensuring a stable occupancy rate.

Synthesizing these points, ZIP 73134 presents a compelling investment opportunity for real estate investors. With a significant portion of the population renting and a median home value that remains within reach, the area offers a balanced market where rental properties can be acquired and operated profitably. The slight premium of actual rents over the FMR further enhances the potential returns on investment. However, investors should also consider the local economic conditions and any fluctuations in tenant income levels that could impact the long-term sustainability of rental demand.

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.