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 | $940 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,680 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $258,750 | 0.47% | F |
| 3BR | $1,680 | $354,770 | 0.47% | F |
U.S. Census Bureau data (2024)
1210 FMR stands as the Fair Market Rent for ZIP code 73557 in Lawton, OK, for fiscal year 2024, indicating the maximum amount Section 8 vouchers can cover for rental housing. 1375 is the market rent figure reported by the Census Bureau's American Community Survey, showing the average rent paid by tenants in the area. This suggests that the Section 8 FMR is slightly below the market rate, potentially making it challenging for landlords to find properties that meet both criteria. 268,304 represents the median home value in the area, which is significantly higher than the median income of 118,056, indicating a gap between affordability and property values. 4.5% is the share of renters in ZIP 73557, reflecting a relatively low demand for rental properties compared to homeownership. The absence of data on days on market (DOM) and price-cut share suggests either limited market activity or insufficient data points to calculate these metrics accurately.
Investors and landlords considering Section 8 participation must carefully evaluate the local rental landscape. While the FMR of 1210 might seem appealing, it is crucial to note that this is lower than the market rent of 1375. This discrepancy could impact the pool of available properties and the attractiveness to potential tenants. Moreover, the median income of 118,056 indicates that many residents may struggle to afford even the FMR without assistance, highlighting the importance of the program for ensuring affordable housing options.
The median home value of 268,304 further underscores the challenge of balancing property costs with rental income. Landlords should also consider the relatively low renter share of 4.5%, suggesting a competitive market where attracting and retaining tenants may require additional effort and investment in property maintenance and amenities.
A final consideration is the lack of specific data on days on market and price-cut share, which could indicate stability in the local real estate market but also limits the ability to make informed decisions based on recent trends. For landlords and small-portfolio investors, the decision to participate in Section 8 should be made with a thorough understanding of the local economic conditions and the specific requirements of the program.
Based on these figures, the Section 8 verdict for ZIP 73557 is cautiously positive, with opportunities for stable rental income but requiring careful selection of properties and management practices to ensure profitability and tenant satisfaction.
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.