Location: Stephens County, OK | Metro: Carter County, OK
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 | $700 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $176,020 | 0.68% | D |
U.S. Census Bureau data (2024)
The ZIP code 73481 stands out due to its unique data signature. With a total of 842 residents, it has a rental rate of just 7.4%, indicating that most of the population owns their homes. The median income in this area is $63,250, while the median home value is significantly higher at $156,694. This suggests a community where homeownership is both prevalent and valued.
Moving into the realm of voucher economics, the Fair Market Rent (FMR) for ZIP 73481, set at $940 for fiscal year 2026, surpasses the current market rent of $783 based on Census ACS data. Landlords and small-portfolio investors should note that the higher FMR can be leveraged to support rents that align more closely with the ZIP's actual median home value, thereby ensuring better financial returns on their properties.
The data signature of ZIP 73481 reads as stable. The low rental rate coupled with a high median home value indicates a mature market where homeownership is the norm. The slight increase in FMR over market rent could be seen as a positive indicator for those willing to participate in the Section 8 program, offering a potential buffer against market fluctuations and ensuring steady cash flow.
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.