Location: Roger Mills County, OK | Metro: Roger Mills County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $740 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $970 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,380 |
| 5 Bedrooms | $1,601 |
| 6 Bedrooms | $1,793 |
| 7 Bedrooms | $1,936 |
| 8 Bedrooms | $2,033 |
U.S. Census Bureau data (2024)
The ZIP code 73642 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover could be problematic due to the discrepancy between the market rent and the Fair Market Rent (FMR) set at $980 for fiscal year 2026, which may not cover the full cost of maintaining rental properties. This gap can lead to financial strain on landlords who might have to absorb the difference between the actual market rates and the subsidized rates.
Vacancy exposure is another concern, as the Days on Market (DOM) for properties in this area is currently unknown. A higher DOM indicates longer periods of vacancy, which can significantly impact cash flow and profitability. Without specific data on DOM, it's difficult to assess how quickly properties might fill, especially with tenants relying on vouchers.
Deferred maintenance is also a potential issue, given that the typical home value and median income for the area are not available. Typically, lower median incomes mean less disposable cash for residents, which could translate into difficulty in covering maintenance costs or even routine repairs. This lack of data makes it hard to predict the level of deferred maintenance landlords might encounter, posing a risk to property upkeep and long-term viability.
However, the high renter share of 15.4% in ZIP 73642 suggests a robust demand for rental housing, including those using Section 8 vouchers. This density of renters generally translates to a steady stream of potential tenants, reducing the risk of prolonged vacancies. The presence of many renters often correlates with a higher number of individuals seeking housing assistance through vouchers, thus potentially ensuring a consistent tenant pool.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.