Location: Enid, OK | Metro: Enid, OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,030 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
U.S. Census Bureau data (2024)
The median home value in ZIP 73727, located in Enid, OK MSA, is $203,700. This figure is significantly lower than the national median home value of $338,100. For the fiscal year 2024, the HUD Fair Market Rent (FMR) for ZIP 73727 is set at $1,000. However, the current market rent for the area is approximately $760, based on recent data.
Voucher tenants in ZIP 73727 cashflow at the HUD FMR level. Given the FMR of $1,000, landlords can expect to receive this amount from the government for eligible tenants. Since the market rent is lower at $760, landlords who accept voucher tenants can still make a profit, even when accounting for maintenance and vacancy costs.
The rent-to-price ratio derived from the median home value and the market rent is approximately 0.37%. This ratio indicates that the rental market is relatively stable and affordable, which is beneficial for both renters and investors. It also suggests that the area might be attractive for first-time homebuyers looking for affordable housing options.
In terms of the real estate market, the recent house appreciation rate in ZIP 73727 was 1.16%, which is notably lower than the US average of 8.27%. This implies that while the area may not offer significant appreciation potential, it provides a stable investment opportunity due to its low median home values and reasonable rental rates.
The strongest investor angle in ZIP 73727 is stability. With a low median home value and a steady rental market, investors can benefit from consistent cash flow and minimal risk of property value fluctuation.
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.