Location: Washita County, OK | Metro: Custer 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 | $680 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,230 |
| 4 Bedrooms | $1,430 |
| 5 Bedrooms | $1,659 |
| 6 Bedrooms | $1,858 |
| 7 Bedrooms | $2,007 |
| 8 Bedrooms | $2,107 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,230 | $79,889 | 1.54% | A+ |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP code 73647 presents a unique opportunity for landlords and small-portfolio investors, anchored by the median home value of $81,351. This figure, while modest, suggests a market where homeownership remains accessible to many, potentially driving demand for rental properties as well. The fact that the percentage of listings reduced is not available indicates stability in the market, with few sellers feeling the need to lower their prices. Similarly, the median days on market (DOM) being listed as N/A points to a swift turnover rate, implying that when homes are listed, they sell quickly, often at or near the asking price.
On the rental side, the forward market rent (FMR) for ZIP 73647 is projected to be $940 by fiscal year 2026, compared to the current market average of $648 based on Census ACS data. This gap signals an upward pressure on rents, driven by anticipated increases in living costs and possibly by an improving local economy. Landlords can expect to see a gradual rise in rental rates as the market adjusts to meet the FMR levels.
For long-term investors, the setup implies a cautious approach to appreciation. While the current median home value and rental rates suggest a stable market, the absence of specific data regarding listing reductions and DOM makes it difficult to project strong future appreciation. However, the potential for rental rate increases offers a solid secondary income stream, which can contribute to overall portfolio growth. Investors should focus on maintaining quality properties and gradually adjusting rents to align with the expected FMR levels.
The combination of modest home values, stable listing dynamics, and rising rental expectations creates a balanced environment. It supports the idea that landlords and small-portfolio investors can maintain pricing power over the next 12-24 months, particularly in rental properties. However, significant capital appreciation may be limited unless there are substantial changes in the local economic conditions or infrastructure developments that drive up property values.
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.