Location: Washita County, OK | Metro: Washita 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 | $700 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $110,138 | 1.11% | B |
U.S. Census Bureau data (2024)
The ZIP code 73641 is situated in a rural area characterized by a modest population of 484 residents. With 25.1% of the population renting their homes, it suggests a community where a significant portion of residents prefer or require rental housing. The median household income in this area stands at $44,712, indicating a middle-income demographic. The median home value is notably lower at $88,105, reflecting the affordability of homeownership in the region.
Transitioning to the economic realities of renting, the Fair Market Rent (FMR) set by HUD for the metro area for fiscal year 2026 is $990. However, the actual market rent as reported by the Census Bureau's American Community Survey is significantly lower at $626. This disparity highlights an opportunity for landlords who can position themselves between these two figures, potentially attracting tenants who qualify for Section 8 but may find the FMR too high.
Given the characteristics of ZIP 73641, it would suit both hands-off voucher operators and hands-on value-add buyers. For those preferring a hands-off approach, the lower market rents compared to the FMR provide a buffer against potential overpayment by tenants. Meanwhile, value-add buyers could leverage the relatively low median home value to acquire properties at a discount, aiming to increase their worth through improvements and then benefit from the higher FMRs when setting rents.
Investors should note the potential for a niche market catering to those reliant on government assistance for housing. With careful property selection and management practices, landlords can ensure profitability while providing affordable housing options. The balance between the FMR and the current market rent offers a strategic window for investment, whether focused on maintaining a passive income stream or actively managing properties for enhanced returns.
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.