Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $960 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,460 |
| 5 Bedrooms | $1,694 |
| 6 Bedrooms | $1,897 |
| 7 Bedrooms | $2,049 |
| 8 Bedrooms | $2,151 |
U.S. Census Bureau data (2024)
The ZIP code 73150, located within the Oklahoma City, OK HUD Metro FMR Area, has a Fair Market Rent (FMR) of $1010 for fiscal year 2024. This compares to an average market rent of $855. The median home value in ZIP 73150 is $367,877, which is slightly above the typical range for the broader Oklahoma City, OK HUD Metro FMR Area. Additionally, the renter share in this ZIP code stands at 18.2%, indicating a higher proportion of renters compared to some other areas.
To determine the position of ZIP 73150 within the metro area, consider the following:
The FMR of $1010 is notably higher than the market rent of $855, suggesting that there might be a significant presence of subsidized housing or a higher demand for rental properties that justifies the higher rent. This could indicate that 73150 is a mid-tier neighborhood where rental properties are priced above the market average due to government subsidies.
The median home value of $367,877 places it in a segment that is above average for the metro but not necessarily in the premium category. Premium sub-markets typically command significantly higher home values and rents.
The renter share of 18.2% is a key indicator that this ZIP code is likely to attract a mix of tenants, including those who might benefit from Section 8 housing vouchers. A higher renter share combined with home values that are above the metro average but not exorbitantly high can signal a sweet spot for landlords and investors looking for a balance between manageable property costs and a robust tenant pool.
In summary, ZIP 73150 appears to be a mid-tier neighborhood within the Oklahoma City, OK HUD Metro FMR Area. It offers opportunities for landlords and small-portfolio investors due to its higher-than-average FMR, a substantial renter share, and median home values that are above average but still reasonable. This combination makes it a potentially attractive area for investment without being in the premium sub-market tier.
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.