Location: Lawton, OK | Metro: Lawton, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,600 |
| 5 Bedrooms | $1,856 |
| 6 Bedrooms | $2,079 |
| 7 Bedrooms | $2,245 |
| 8 Bedrooms | $2,357 |
ZIP Code 73506 is situated in Lawton, Oklahoma, within the broader Lawton, OK Metropolitan Statistical Area. The neighborhood lacks detailed demographic data such as population size, percentage of renters, and median income, which makes it challenging to paint a comprehensive picture. However, the median home value is also not available, suggesting that there may be limited data on the housing market in this specific ZIP code.
The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP Code 73506 for fiscal year 2024 is set at $920 per month. While specific market rent figures are not provided, the FMR serves as a benchmark for rental prices in the area. For landlords and small-portfolio investors, this FMR indicates that the rental market in 73506 is average when compared to other areas across the United States.
Given the limited availability of detailed demographic and economic data, ZIP Code 73506 may suit hands-off voucher operators who can rely on government programs like Section 8 to fill vacancies. The absence of specific market rent data suggests that the area might not attract significant interest from hands-on value-add buyers looking to capitalize on market trends and property appreciation. Instead, hands-off operators who are willing to accept a stable but modest return on investment are likely to find the conditions in 73506 suitable for their investment strategy.
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.