Location: Roger Mills County, OK | Metro: Roger Mills 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 | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,400 |
| 5 Bedrooms | $1,624 |
| 6 Bedrooms | $1,819 |
| 7 Bedrooms | $1,965 |
| 8 Bedrooms | $2,063 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,300 | $152,053 | 0.85% | C |
U.S. Census Bureau data (2024)
The analysis of ZIP code 73628, located in Roger Mills County, Oklahoma, reveals key insights for landlords and small-portfolio investors.
The first question to address is whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,000. However, the current market rent, as per Census ACS data, stands at $900. This indicates that the rental income is below the FMR, suggesting that landlords might struggle to cover costs if they rely solely on market rates. To achieve the FMR, adjustments in pricing or cost management strategies would be necessary.
Moving on to the affordability of acquisitions, the median home value in ZIP 73628 is $135,962. With the data showing no available days on the market (DOM) or percentage of homes needing price cuts, it's challenging to gauge the precise ease or difficulty of acquiring properties. Nonetheless, the median home value suggests that property acquisition is relatively affordable compared to larger metropolitan areas, which could be advantageous for investors looking to enter the market with lower capital requirements.
Regarding tenant demand, ZIP 73628 has a total population of 1,677, with 19.6% of residents being renters. This indicates a modest but stable demand for rental properties. Given the small population base, fluctuations in the number of renters could have a significant impact on the local rental market. Therefore, landlords should consider diversifying their portfolio or preparing for potential variability in tenant numbers.
In conclusion, while the median home value of $135,962 makes property acquisition affordable in ZIP 73628, the gap between the market rent of $900 and the FMR of $1,000 poses a challenge for achieving profitable rental operations. The rental market, supported by a 19.6% renter share, shows promise but is constrained by the limited overall population of 1,677. Landlords and investors must carefully balance these factors to ensure sustainable returns, possibly through strategic pricing or by targeting specific segments of the rental market. The modest demand for rentals and the need to align market rents with FMRs suggest that careful planning and financial management will be crucial for success in this area.
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.