Location: Enid, 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 | $750 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,410 |
| 5 Bedrooms | $1,636 |
| 6 Bedrooms | $1,832 |
| 7 Bedrooms | $1,979 |
| 8 Bedrooms | $2,078 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,070 | $65,680 | 1.63% | A+ |
| 3BR | $1,400 | $138,244 | 1.01% | B |
U.S. Census Bureau data (2024)
The ZIP code 73738, located in Garber, OK, stands out within Garfield County due to its unique demographic and economic characteristics. With a population of 1,012 residents, the area has a relatively low rental rate at 12.5%, indicating that most of the residents own their homes. The median household income in Garber is $79,643, which is slightly below the national average but still provides a comfortable standard of living. The median home value in the ZIP is $105,935, reflecting a stable housing market where property values are reasonable.
When it comes to Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 73738 in fiscal year 2024 is set at $890. This figure is notably lower than the Census ACS-reported market rent of $931. This difference suggests that landlords in Garber may find the voucher amount insufficient to cover the actual cost of renting in the area. However, the disparity between FMR and market rent is not excessively large, which could mean that the impact on landlords' profitability might be manageable.
The data signature for ZIP 73738 reads as "stable." Despite the modest gap between the FMR and the market rent, the overall economic indicators suggest a community that is financially secure and unlikely to experience significant transitions in the near future. The median income and home values indicate a balanced local economy where homeownership is prevalent and rents are affordable. For small-portfolio investors and landlords, this stability means a reliable investment environment, albeit with the need to carefully manage expectations regarding rental income from Section 8 vouchers.
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.