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 | $1,050 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,110 |
| 5 Bedrooms | $2,448 |
| 6 Bedrooms | $2,742 |
| 7 Bedrooms | $2,961 |
| 8 Bedrooms | $3,109 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,870 | $373,003 | 0.5% | F |
| 4BR | $2,110 | $554,923 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 73173, located in Oklahoma, presents an interesting scenario when analyzed from the renter's perspective. The median income for households in this area stands at $143,864. However, the market rate for rent is listed as N/A, which suggests there isn't sufficient data to provide a concrete figure on what the typical rent would be. This absence of market rate data makes it challenging to assess whether a household could afford the average rent.
In contrast, the Fair Market Rent (FMR) for the ZIP code, as determined by the U.S. Department of Housing and Urban Development for fiscal year 2024, is set at $1170. This figure represents the amount that a Section 8 voucher holder could pay towards their housing costs. Given the median income, it's reasonable to infer that many residents could afford higher rents than the FMR, but without specific market rates, this remains speculative.
The ZIP code has a relatively low percentage of renters at 4.4%, indicating that the majority of residents own their homes. This could imply a smaller pool of potential tenants, which might affect the level of competition among landlords. With a total population of 4,780, the number of renters is likely around 210 individuals. This small number of renters means landlords should focus on retaining tenants and understanding the local rental market dynamics.
The affordability gap between the median income and the FMR is significant, suggesting that voucher holders represent a segment of the market where affordability is a critical factor. For landlords, this means that while cash-paying tenants might offer higher rents, the stability and guaranteed payments from voucher holders can be a reliable alternative. Landlords must weigh the benefits of accepting vouchers against the potential for higher rent payments from cash-paying tenants.
Takeaway: In ZIP 73173, landlords should consider the reliability and security of voucher payments, especially given the limited number of renters. While the high median income indicates potential for higher rents, the small rental market size means competition for tenants is not intense. Landlords should evaluate both strategies—accepting vouchers or focusing on cash-paying tenants—to determine which aligns better with their business goals and risk tolerance.
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.