Location: Washita County, OK | Metro: Beckham 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 | $820 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,520 |
| 5 Bedrooms | $1,763 |
| 6 Bedrooms | $1,975 |
| 7 Bedrooms | $2,133 |
| 8 Bedrooms | $2,240 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $89,621 | 1.19% | B |
| 3BR | $1,280 | $201,553 | 0.64% | D |
| 4BR | $1,520 | $311,277 | 0.49% | F |
U.S. Census Bureau data (2024)
In Elk City, Oklahoma (ZIP 73644), the real estate landscape is signaling a robust environment for pricing power over the next 12 to 24 months. The median home value stands at $167,939, which represents a stable baseline for property valuations. Despite this stability, only 0.2% of listings have seen price reductions, indicating that sellers are maintaining their asking prices, a sign of strong seller's market conditions.
The median days on market (DOM) being reported as N/A suggests that homes are selling quickly, often before reaching typical DOM tracking thresholds. This rapid turnover is further evidence of buyer demand outstripping supply, which supports the notion of pricing power favoring landlords and homeowners. In such an environment, it is reasonable to expect that prices will remain firm and potentially increase, especially if the trend of minimal price reductions continues.
On the rental side, the Federal Market Rent (FMR) for the metro area is projected to be $1,070 for fiscal year 2026, compared to the current market rate of $939 as per Census ACS data. This gap indicates an upward trajectory for rental rates, aligning with the potential for increased home values. Landlords can anticipate higher rents as the market moves towards the FMR levels, enhancing cash flow and investment returns.
For long-hold investors, the setup in Elk City points towards a realistic appreciation thesis. The combination of stable home values, low reduction rates, and a growing rental market suggests that properties are likely to retain their value and potentially appreciate over time. This appreciation is driven by the underlying demand dynamics and the expectation that rental rates will rise to meet FMR projections.
However, it is important to note that the lack of specific DOM data introduces some uncertainty regarding the exact speed of the market. Nonetheless, the overall trend of minimal price reductions and the positive gap between current rental rates and future FMRs supports a favorable outlook for both property values and rental income growth.
To summarize, the current data in Elk City, OK, implies a strong seller's market with pricing power remaining firmly in the hands of landlords and homeowners. With the expectation of rising rental rates and stable to increasing home values, long-term investors are positioned to benefit from appreciation and improved rental yields.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.