Section 8 Fair Market Rent (FMR) for ZIP 73145 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,550
2 Bedrooms	$1,880
3 Bedrooms	$2,550
4 Bedrooms	$2,860
5 Bedrooms	$3,318
6 Bedrooms	$3,716
7 Bedrooms	$4,013
8 Bedrooms	$4,214

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,612

Median Household Income

$64,856

Housing Units

850

Renter Percentage

98.0%

Occupancy Rate

75.3%

Renter Occupied

627

To determine if you should buy in ZIP code 73145 for Section 8 investment, follow these steps:

Step 1: Does the Fair Market Rent (FMR) of $1630 cover the debt service on your property?

No: If the FMR of $1630 does not cover the debt service, purchasing in ZIP 73145 would not be advisable. The property's income must meet or exceed the cost of maintaining and financing the property.
Yes: Proceed to Step 2.

Step 2: How does the market rent of $1,732 compare to the FMR?

Above: If the market rent exceeds the FMR, the property could potentially generate higher income outside of Section 8, which may influence your decision. However, the primary focus is still on whether the FMR covers debt service.
At or Below: If the market rent is at or below the FMR, then the FMR becomes the ceiling for rental income under Section 8, making it crucial that this amount is sufficient to cover all expenses.

Step 3: Is there enough demand given that 98.0% are renters and the average Days on Market (DOM) is N/A?

It Depends: With 98.0% of residents being renters, there is high demand for rental properties. However, without a specific DOM figure, it's challenging to assess how quickly properties are leased. A low DOM indicates strong demand, whereas a high DOM suggests challenges in finding tenants. This step requires additional local market analysis to confirm if the demand justifies the investment.

The decision to invest in ZIP 73145 hinges on whether the FMR can cover your debt service, the relationship between FMR and market rent, and the strength of rental demand. Given the high percentage of renters, the area shows potential. But the lack of a DOM figure means further investigation is needed to ensure that demand is robust enough to support a Section 8 portfolio.

Data Sources: FMR data from HUD (2027). 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.