Section 8 Fair Market Rent (FMR) for ZIP 73703 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$890
2 Bedrooms	$1,080
3 Bedrooms	$1,410
4 Bedrooms	$1,420
5 Bedrooms	$1,647
6 Bedrooms	$1,845
7 Bedrooms	$1,993
8 Bedrooms	$2,093

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

30,556

Median Household Income

$73,333

Housing Units

13,722

Renter Percentage

32.8%

Occupancy Rate

89.2%

Renter Occupied

4,021

The ZIP code 73703, located in Enid, Oklahoma, is a stable market with a mix of homeowners and renters. This area offers opportunities for both landlords and small-portfolio investors looking to capitalize on affordable housing and rental properties.

The Fair Market Rent (FMR) for ZIP 73703 is set at $1,110 for fiscal year 2024, indicating the government's benchmark for rental affordability in the region.
The actual market rent, as measured by Zillow's ZORI index, stands at $1,351, suggesting that rents in the area are slightly above the FMR but still reasonable for many tenants.
The median home value in ZIP 73703 is $192,614, which is a moderate price point for potential property investments, allowing for a balance between purchase cost and resale value.
Renters make up 32.8% of the population, providing a substantial base of potential tenants for rental properties.
The Days on Market (DOM), a metric indicating how long homes typically stay listed before selling, is 48 days. This relatively short period suggests a healthy local real estate market with active buying interest.
The median household income in the area is $73,333, which provides insight into the financial stability of the local population and their ability to afford housing costs.

Investors in ZIP 73703 can expect a balanced market where rental properties are viable, given the gap between FMR and market rent. The median home value and DOM metrics indicate a steady environment for purchasing and selling residential properties. With a significant portion of the population renting and a solid median income, the area supports a sustainable rental market, making it an attractive location for those interested in real estate investment.

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.