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 | $970 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,280 | $136,834 | 0.94% | C |
| 3BR | $1,730 | $179,240 | 0.97% | C |
| 4BR | $1,950 | $218,675 | 0.89% | C |
U.S. Census Bureau data (2024)
The ZIP code 73159 in Oklahoma City, OK, stands out due to its significant rental population and moderate median income levels. With a total of 31,447 residents, nearly half (46.5%) are renters, indicating a robust demand for rental properties. The median income here is $54,642, which is lower than the national average but still supports a decent standard of living. Despite the relatively low median income, the median home value in this area is $177,567, suggesting that homeownership remains a goal for many residents.
When it comes to voucher economics, the Fair Market Rent (FMR) for ZIP 73159 in fiscal year 2024 is set at $1,090. This is notably below the ZORI (Zillow Observed Rental Index), which stands at $1,357. The difference between these two figures highlights a potential gap between what the government will subsidize and the actual market rates for rentals. Landlords should be aware that while they can attract tenants using Section 8 vouchers, they might need to adjust their expectations regarding rental income if relying solely on voucher payments.
The data signature for ZIP 73159 reads as stable. The resident population and rental rate have remained consistent, suggesting a steady demand for rental housing. Additionally, the median home value has not shown significant fluctuations, indicating a balanced real estate market. While the voucher economics present a challenge for maximizing rental income, the overall stability of the area provides a solid foundation for long-term investment strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.