Location: Oklahoma City, OK | Metro: Oklahoma City, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
The analysis for Section 8 properties in ZIP code 73155 centers around the disparity between the Fair Market Rent (FMR) and the actual market rent. The FMR for the area, as set by HUD for fiscal year 2024, stands at $1080. However, the market rent figure is currently unavailable, which makes it difficult to provide an exact percentage gap.
In scenarios where the FMR exceeds the market rent, landlords can leverage this discrepancy to achieve higher yields. Voucher tenants, who are guaranteed rental assistance up to the FMR, effectively bring in a steady stream of government-subsidized income that is often higher than what could be obtained from non-voucher tenants paying market rates. This ensures a reliable return on investment, even if the market rent is lower than the FMR.
Conversely, when the FMR is less than the market rent, landlords must consider the implications of accepting housing voucher tenants who pay below open-market rates. The guaranteed income from vouchers is capped at the FMR, meaning landlords will not receive the full market value for their properties. This scenario can reduce potential rental income, making it less attractive unless the landlord values the stability of government-backed payments over the variability of market rents.
The context of ZIP 73155 provides little additional insight due to the lack of specific data points such as the percentage of renters, median home value, and median income. These unknowns mean that while the FMR is a fixed point of reference, the broader economic picture for the area remains unclear. Nonetheless, the presence of Section 8 vouchers allows landlords to tap into a consistent revenue stream, which can be particularly valuable in markets with high vacancy rates or economic uncertainty.
Data Sources: FMR data from HUD (2027).
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.