Location: Washita County, OK | Metro: Kiowa 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 | $790 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $1,720 |
| 5 Bedrooms | $1,995 |
| 6 Bedrooms | $2,234 |
| 7 Bedrooms | $2,413 |
| 8 Bedrooms | $2,534 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,030 | $37,792 | 2.73% | A+ |
| 3BR | $1,430 | $93,437 | 1.53% | A+ |
| 4BR | $1,720 | $172,694 | 1% | C |
U.S. Census Bureau data (2024)
The ZIP code 73651, located in Hobart, OK, is primarily characterized by a significant rental population. With a total population of 4,018, nearly one-third (33.9%) are renters, indicating a substantial demand for rental properties. This percentage suggests that Hobart is indeed a renter-heavy area, likely with a corresponding depth in Section 8 housing voucher demand.
The median household income in Hobart stands at $41,273, which is notably lower than the Fair Market Rent (FMR) benchmark of $1,100 set for the metro area for FY 2026. The current market rent of $848 represents approximately 20.5% of the median household income. This figure underscores that typical rents consume a significant portion of local residents' earnings, making affordable housing solutions like Section 8 vouchers particularly attractive.
Given the income levels and rental rates, landlords in ZIP 73651 can anticipate tenants who rely on government assistance to cover their housing costs. These tenants will be looking for properties that align with the $848 market rent, while also seeking to stay within the bounds of their Section 8 voucher allowances. It's important for landlords to understand that while the income level may seem low, it reflects the economic reality of the area and the genuine need for affordable housing.
To conclude, landlords in ZIP 73651 should prepare for a tenant base that heavily utilizes Section 8 vouchers due to the high cost of living relative to income. Tenants will be keenly focused on finding affordable options that meet their needs and fit within their budget constraints. By offering well-maintained properties at competitive rates, landlords can attract and retain reliable tenants who benefit from the voucher program.
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.