Section 8 Fair Market Rent (FMR) for ZIP 73441 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$820
1 Bedroom	$920
2 Bedrooms	$1,080
3 Bedrooms	$1,290
4 Bedrooms	$1,540
5 Bedrooms	$1,786
6 Bedrooms	$2,000
7 Bedrooms	$2,160
8 Bedrooms	$2,268

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the data gathered, the median home value in ZIP 73441 is approximately $106,300. The Fair Market Rent (FMR) for a 1-bedroom apartment in ZIP 73441 for fiscal year 2026 is set at $1,000 per month. In contrast, the market rent for the same property type is reported to be $928 per month, according to recent data. This indicates that the FMR exceeds the market rent by $72, which represents a 7.76% premium over the market rate.

The gap between the FMR and market rent is significant for Section 8 real estate analysis. Given that the FMR is higher than the market rent, landlords and small-portfolio investors should recognize this as a yield play. By accepting Section 8 tenants, landlords can secure a rental income that is above the open-market rates, thereby enhancing their cash flow and investment returns.

In ZIP 73441, 15.1% of residents are renters, and the median household income is $34,464. These figures suggest that a substantial portion of the population relies on affordable housing options such as Section 8 vouchers. Landlords can benefit from the guaranteed income provided by the government, which covers the difference between the tenant's contribution and the FMR.

However, it is crucial to consider the potential drawbacks of housing voucher tenants. While the income is guaranteed, the administrative burden and maintenance requirements associated with these properties might be higher. Additionally, the cost of maintaining compliance with housing quality standards could offset some of the financial benefits.

To summarize, the gap between the FMR and market rent in ZIP 73441 makes it a favorable environment for landlords and small-portfolio investors to accept Section 8 tenants. The premium of $72 per month, or 7.76%, ensures a higher yield compared to the open market. Despite the potential challenges, the overall financial advantage is clear.

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.