Location: Lawton, OK | Metro: Lawton, 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 | $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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $970 | $120,499 | 0.8% | C |
| 3BR | $1,330 | $223,915 | 0.59% | F |
| 4BR | $1,600 | $319,144 | 0.5% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 73541 in Fletcher, OK, highlights several potential challenges for landlords considering Section 8 participation. Tenant turnover is a significant concern, with the market rent at $1,023 being notably higher than the Fair Market Rent (FMR) of $890 for FY 2024. This discrepancy suggests that tenants might struggle to afford the market rate once their vouchers expire, leading to frequent changes in occupancy.
Vacancy exposure is another issue. The Days on Market (DOM) data is currently unavailable, which makes it difficult to predict how long a property might remain unoccupied. High vacancy rates can be financially detrimental, especially when combined with the lower FMR.
Deferred maintenance is also a risk factor. With a typical home value of $231,785 and a median income of $61,420, many residents may find it challenging to maintain their homes at a high standard. This could result in increased repair and maintenance costs for landlords, particularly if they inherit properties with existing issues.
However, these risks are tempered by the fact that 16.6% of the population are renters. High renter density often correlates with greater demand for rental properties, including those that accept Section 8 vouchers. This demand can help stabilize the rental market and ensure consistent tenancy, even if individual tenants move out frequently.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 73541 is moderate. While there are notable challenges such as tenant turnover and maintenance costs, the strong rental market provides a counterbalance that can mitigate some of these risks.
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.