Section 8 Fair Market Rent (FMR) for ZIP 73701 - 2027

Location: Enid, OK | Metro: Enid, OK MSA

Investment Score for ZIP 73701

A+

Monthly Rent (2BR)

$930

Median Price (2BR)

$57,566

1% Rule

1.62%

Annual Yield

19.39%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$710
1 Bedroom	$750
2 Bedrooms	$930
3 Bedrooms	$1,210
4 Bedrooms	$1,230
5 Bedrooms	$1,427
6 Bedrooms	$1,598
7 Bedrooms	$1,726
8 Bedrooms	$1,812

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$750	$36,838	2.04%	A+
2BR	$930	$57,566	1.62%	A+
3BR	$1,210	$107,197	1.13%	B
4BR	$1,230	$163,103	0.75%	D
5BR	$1,427	$175,874	0.81%	C

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

24,476

Median Household Income

$50,843

Housing Units

10,944

Renter Percentage

41.2%

Occupancy Rate

81.8%

Renter Occupied

3,690

The city of Enid, located in ZIP code 73701, is situated in north-central Oklahoma. Known for its agricultural heritage and proximity to major highways, it offers a stable environment for real estate investments. The market is characterized by a mix of homeowners and renters, with rental properties being a significant part of the local housing landscape.

Fair Market Rent (FMR) for ZIP 73701: In fiscal year 2024, the FMR is set at $920, providing a benchmark for rental pricing in federally assisted housing programs.
Market Rent (ZORI): The actual market rent, known as the Zillow Observed Rent Index (ZORI), stands at $821, indicating that while federally supported rents are higher, the general market reflects slightly lower average rents.
Median Home Value: At $78,554, the median home value in Enid suggests that the area is affordable for both homeowners and investors looking to purchase properties.
Renter Share: With 41.2% of residents renting their homes, there is a notable demand for rental properties in the area, making it a viable option for investors focused on the rental market.
Median Income: The median household income in Enid is $50,843, which provides insight into the economic conditions of the area and the potential affordability of housing for residents.

Investors in Enid should consider the gap between the Fair Market Rent and the actual market rent when setting rental prices for federally assisted units. The relatively low median home value indicates a potentially undervalued market for property purchases, while the substantial renter share points towards ongoing demand for rental properties. Given the median income, there is a balance between what residents can afford and the cost of living, suggesting a steady but not rapidly growing market. This stability makes Enid an attractive location for those seeking reliable long-term rental income without the volatility often seen in larger urban markets.

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.