Location: Washita County, OK | Metro: Washita County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
A ZIP code analysis for 73622 reveals several potential pitfalls for landlords considering Section 8 investments. First, tenant turnover presents a significant challenge. At a market rent of $1,292, the competition for tenants is fierce compared to the Fair Market Rent (FMR) of $1,120 for the same area. This discrepancy can lead to higher turnover rates, as tenants might prefer the subsidized rate over paying the market price.
Vacancy exposure is another critical issue. The Days on Market (DOM) data is not available, which makes it difficult to predict how long properties might remain vacant. A prolonged vacancy period can be financially burdensome for landlords, especially when relying on steady rental income.
The deferred maintenance exposure is also noteworthy. With a median household income of $53,750, the financial capacity for maintaining homes at their typical values is uncertain. Without knowing the typical home value in the area, landlords must be prepared for potential maintenance costs that could exceed the rental income they receive.
However, these risks are tempered by the high concentration of renters in the area, with 18.6% of the population being renters. High renter density generally translates into greater demand for housing vouchers, which can stabilize cash flow for landlords who are willing to participate in the Section 8 program.
In summary, while there are notable risks associated with Section 8 investments in ZIP code 73622, the high renter share suggests a robust demand for affordable housing options. Despite these challenges, the potential for stable income through voucher programs remains attractive. Therefore, the overall risk for a first-time Section 8 landlord in this area is assessed as moderate.
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.