Location: Major County, OK | Metro: Enid, OK MSA
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 | $710 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $980 |
| 3 Bedrooms | $1,280 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,280 | $186,717 | 0.69% | D |
U.S. Census Bureau data (2024)
A skeptical investor considering ZIP 73735 might have several valid concerns regarding the feasibility of investing in properties through the Section 8 program. Let's address these objections head-on using the data available.
Objection 1: Will Fair Market Rent (FMR) of $960 cover the mortgage on a $167,040 home?
The FMR set for ZIP 73735 for fiscal year 2024 is $960. To determine if this amount can cover the mortgage on a $167,040 home, we must first calculate the expected monthly mortgage payment. Assuming a 30-year fixed-rate mortgage with an interest rate of 4%, the monthly principal and interest payment would be approximately $810. This figure does not include property taxes, insurance, and maintenance costs, which typically add another $200-$300 to the monthly expenses. Therefore, while the FMR of $960 is sufficient to cover the base mortgage payment, it leaves little room for other expenses. An investor should ensure that their financial model accounts for all potential costs to maintain profitability.
Objection 2: Is there enough renter demand at 8.5% occupancy rate?
The occupancy rate of 8.5% suggests that there is a relatively low demand for rental properties in ZIP 73735. However, this statistic alone does not provide a complete picture of the rental market dynamics. It is crucial to consider the reasons behind this low occupancy rate. Factors such as local employment trends, population growth, and the availability of alternative housing options can influence rental demand. The data does not specify these factors, so further research into the local economy and housing trends would be advisable to understand the underlying causes and predict future demand accurately.
Objection 3: Will vouchers keep pace with market rents of $900?
The FMR of $960 is higher than the current market rent of $900, indicating that voucher holders could potentially afford slightly more expensive units. However, whether vouchers will keep pace with market rents depends on the local administration's funding and policy decisions. The data does not provide specifics on how often or by how much voucher amounts adjust. Given the historical trend of FMR adjustments, it is reasonable to assume that they will increase over time to reflect changes in the cost of living and market conditions. Nonetheless, investors should monitor local HUD announcements and budget allocations to stay informed about any changes that could impact their investment.
In conclusion, while the data provides some insights into the viability of investing in ZIP 73735 under the Section 8 program, it also highlights areas requiring deeper analysis. The FMR covers the basic mortgage payment but leaves little margin for additional expenses. The occupancy rate indicates low demand, necessitating a closer look at local economic indicators. Lastly, the relationship between voucher amounts and market rents is subject to administrative discretion and should be monitored closely.
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.