Location: Lawton, OK | Metro: Lawton, OK HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,260 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 73567 in fiscal year 2024 is set at $890. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It is important to note that this is not the actual rent you will receive, but rather the benchmark used by the government to determine the payment standard.
In comparison, the average rent in ZIP 73567, based on Census ACS data, is $604. This indicates that the FMR is higher than the typical market rate, potentially offering landlords a chance to earn more than they would through conventional rentals.
The renter share in ZIP 73567 stands at 24.7%. This means that nearly one-quarter of the households in the area are renters, suggesting a reasonable demand for rental properties. However, it also implies that there is competition among landlords for these tenants, which could affect your ability to command the highest rents.
If you're looking to acquire a property in this ZIP code, the median home value is around $157,427. This gives you an idea of the potential investment required to enter the market. Keep in mind that the acquisition cost will vary depending on the condition and location of the property.
Before proceeding with a Section 8 rental, ensure that the property meets all Housing Quality Standards (HQS). These standards are set by the Department of Housing and Urban Development (HUD) and cover a range of safety and habitability requirements. Compliance with HQS is mandatory for participation in the program, and failing to meet these standards can result in penalties or removal from the program.
To summarize, the FMR of $890 provides a clear ceiling for rent charges under Section 8, while the local average of $604 suggests a potential premium. With 24.7% of households renting, there is a steady demand for rental units, and the median home value of $157,427 offers insight into the typical investment needed. Your next step should be to verify that your property complies with HUD's Housing Quality Standards.
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.