Location: Enid, OK | Metro: Enid, OK MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,000 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
U.S. Census Bureau data (2024)
The median income in ZIP code 73733 stands at $100,813, which places it above the national average. However, the lack of specific market rate rental data (denoted as N/A) suggests that there might be limited information available regarding typical rental prices in the area. This absence of data complicates the assessment of how easily households can afford local rents.
To provide context, let's consider the Fair Market Rent (FMR) for ZIP 73733, which is set at $920 for fiscal year 2024. This figure represents the voucher payment standard that the government uses to subsidize housing costs for low-income families. Given the median income, it's likely that many residents could afford higher rents than the voucher amount, indicating a potential gap between what vouchers cover and the actual cost of renting in the area.
With only 17.8% of the population being renters and a total population of 221, the competition among landlords in ZIP 73733 is relatively low. This small percentage of renters means that landlords have fewer tenants to choose from, which can affect vacancy rates and the overall demand for rental properties. The affordability gap, where median incomes exceed the voucher payment, could lead to a scenario where landlords might prefer cash-paying tenants who can afford market rates over those relying on vouchers.
Landlords should take note that while the area has a high median income, the number of potential tenants is limited. Therefore, focusing on attracting cash-paying tenants who can meet or exceed market rates may be more profitable. However, accepting voucher tenants can still be beneficial, especially if it helps to fill vacancies quickly or if market rates are indeed higher than what most residents are willing to pay. In conclusion, landlords in ZIP 73733 should weigh the benefits of both strategies carefully, considering the size of the rental market and the income levels of potential tenants.
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.