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 | $1,020 |
| 1 Bedroom | $1,110 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,830 | $512,154 | 0.36% | F |
| 4BR | $2,050 | $708,037 | 0.29% | F |
U.S. Census Bureau data (2024)
A decision tree for whether to buy in ZIP code 73151 for Section 8 investment hinges on three key factors: Fair Market Rent (FMR), market rent comparison, and rental demand.
Step 1: Debt Service Coverage Ratio (DSCR)
The FMR for ZIP 73151 in fiscal year 2024 is $1120. To determine if this FMR clears the debt service on a property valued at $635,652, you must calculate the DSCR. The DSCR is the ratio of the net operating income to the total debt service. If the DSCR is less than 1, the FMR does not cover the debt service, leading to a "No" on this step. If it's equal to or greater than 1, then the answer is "Yes".
Step 2: Market Rent Comparison
The data indicates that market rent information is currently unavailable for ZIP 73151. Without this information, it's impossible to compare market rent to the FMR. Therefore, the answer to this step is "It Depends" until market rent data becomes available. If market rent is above or at the FMR, it suggests a stable or slightly overvalued market, leaning towards a "Yes". If market rent is below the FMR, it signals potential risks, leading to a "No".
Step 3: Rental Demand
Rental demand in ZIP 73151 is characterized by 0.0% of renters and an unknown number of days on the market (DOM). This indicates a lack of rental activity and low demand. Given these conditions, the answer to this step is "No". Insufficient demand means that even if the FMR covers the debt service, there are no tenants to pay the rent.
In summary, for ZIP 73151, the decision to buy for Section 8 investment is contingent upon the FMR covering the debt service and the availability of market rent data. However, the current lack of rental demand makes it an unattractive option for investment.
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.