Location: Cotton County, 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 | $710 |
| 1 Bedroom | $710 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $920 | $59,128 | 1.56% | A+ |
| 3BR | $1,260 | $128,280 | 0.98% | C |
| 4BR | $1,520 | $189,334 | 0.8% | C |
U.S. Census Bureau data (2024)
The ZIP code 73572, located in Walters, Oklahoma, presents an interesting scenario when analyzed from the renter's perspective. The median household income in this area stands at $57,065 according to the latest Census ACS data. Given the market rate for rent is set at $750, it becomes evident that the financial burden on households is significant. To put this into context, a household earning the median income would spend approximately 16% of their annual income on rent alone, which is a considerable portion.
When comparing the market rate to the federal payment standard for housing vouchers, the situation becomes even more pronounced. The Fair Market Rent (FMR) for zip code 73572 in fiscal year 2024 is set at $900. This means that voucher holders could potentially secure housing at a higher rate than the market average, offering landlords a slightly better deal in terms of rental income.
The ZIP code has a total population of 3,045, with 18.9% being renters. This indicates a relatively small but significant rental market. The affordability gap between the median income and both the market rate and voucher payment standard suggests that there is a segment of the population who may struggle to pay market rates without assistance. For landlords, this implies a competitive environment where attracting tenants might require either lowering rents or accepting voucher payments.
In conclusion, for landlords and small-portfolio investors considering strategies in ZIP code 73572, understanding the financial dynamics is crucial. While cash-paying tenants might be willing to pay the market rate of $750, the higher voucher payment standard of $900 offers a compelling alternative. Landlords should weigh the benefits of higher guaranteed payments from voucher recipients against the potential risks and administrative burdens associated with participating in the voucher program. This analysis highlights the importance of diversifying tenant acquisition strategies to include both cash-paying and voucher-supported renters to ensure stable occupancy and income.
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.