Location: Woods County, OK | Metro: Major 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 | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,610 | $173,831 | 0.93% | C |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 73729 might raise several valid concerns regarding the feasibility of investing in rental properties within this area. Let's address these objections head-on using available data.
The median home value in ZIP 73729 is $137,522. Assuming a typical mortgage rate of around 4.5%, a monthly payment on a $137,522 home with a 20% down payment would be approximately $650. With an FMR of $1,150, the rent collected could indeed cover the mortgage payment comfortably, leaving room for other expenses such as maintenance, property taxes, and insurance.
The percentage of renters in ZIP 73729 stands at 17.9%. While this figure is relatively low compared to urban areas, it does indicate that there is still a market for rentals. However, the data does not provide a detailed breakdown of the reasons why people choose to rent or the stability of the rental market. For a more comprehensive analysis, one would need to consider additional factors such as job growth, population trends, and the local economy.
The average voucher amount in the area is not directly provided in the data. However, the current market rent of $693 is significantly lower than the FMR of $1,150. If the voucher amounts are close to the FMR, they should adequately cover the market rents. Yet, without specific voucher data, it's impossible to definitively state whether the voucher amounts will consistently meet the needs of tenants paying $693. The investor must monitor local housing authority policies and federal funding levels to ensure long-term viability.
In conclusion, while the FMR of $1,150 can cover the mortgage on a $137,522 home, the 17.9% renter rate suggests a smaller market. Additionally, the relationship between vouchers and market rents remains uncertain due to limited data. Investors should conduct further research into local economic conditions and rental market dynamics before making investment decisions.
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.