Location: Custer County, OK | Metro: Custer County, OK
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 | $680 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,360 |
| 4 Bedrooms | $1,640 |
| 5 Bedrooms | $1,902 |
| 6 Bedrooms | $2,130 |
| 7 Bedrooms | $2,300 |
| 8 Bedrooms | $2,415 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,360 | $174,647 | 0.78% | D |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 73620 in the metro area for fiscal year 2026 is set at $1,000. This figure represents the maximum amount that a landlord can receive through the Section 8 program, which is a federal initiative designed to help low-income families afford housing. It's important to note that this is the payment standard and does not reflect the actual rent you can charge your tenants.
In comparison, the average rent in ZIP 73620, based on recent Census American Community Survey (ACS) data, stands at $812. This indicates that the FMR is slightly higher than the local average, offering a potential buffer against any financial discrepancies between the market rate and the government subsidy.
The rental share in this area is 30.7%, meaning nearly one-third of all households are renters. This high percentage suggests a robust demand for rental properties, making it a favorable environment for landlords looking to enter the Section 8 market.
When considering the acquisition cost of a property, the median household income in ZIP 73620 is approximately $153,637. This figure can be used as a reference point to gauge the overall economic health of the area and the potential for property appreciation over time.
Before committing to a Section 8 rental property in ZIP 73620, it is crucial to verify the property meets the Housing Quality Standards (HQS). These standards ensure the unit is safe, decent, and sanitary for occupancy. They include criteria such as having a functional kitchen, heating, plumbing, and electrical systems, among other basic requirements. Compliance with HQS is mandatory for participation in the program and ensures the property will be accepted by the housing authority.
To summarize, the FMR of $1,000 provides a clear guideline for the maximum subsidy you can receive per month, while the local average rent of $812 gives you an idea of the market rate. The significant 30.7% renter share points to a strong demand for rentals, and the median income of $153,637 offers insight into the economic landscape. Ensure your property meets the HQS to avoid any issues with the housing authority and to guarantee a smooth transition into the Section 8 program.
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.