Location: Alfalfa County, OK | Metro: Alfalfa 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 | $770 |
| 1 Bedroom | $770 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,680 |
| 5 Bedrooms | $1,949 |
| 6 Bedrooms | $2,183 |
| 7 Bedrooms | $2,358 |
| 8 Bedrooms | $2,476 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,390 | $156,467 | 0.89% | C |
U.S. Census Bureau data (2024)
The ZIP code 73741 has a population of 1,769 residents, with 12.9% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties using Section 8 vouchers may be relatively low compared to areas with higher percentages of renters.
The median household income in this ZIP code is $62,083, which is above the federal poverty level. However, the specific market rent figures are not available, making it challenging to provide an exact percentage of how much typical rent consumes of local income. To estimate, we can use the Fair Market Rent (FMR) figure of $1,020, which is set for FY 2026 in the metro area. Assuming market rents align closely with the FMR, a household earning the median income would spend approximately 19.6% of their monthly income on rent at the FMR rate.
This percentage is within a reasonable range for housing affordability, but it's important to note that this calculation assumes the median income applies to all households. In reality, those relying on Section 8 vouchers will have incomes significantly below the median, likely closer to the poverty line. For these tenants, the FMR represents the maximum amount they can afford to pay for rent under the program.
A landlord in ZIP 73741 should expect a tenant profile that includes individuals and families who qualify for Section 8 vouchers due to their lower income levels. These tenants will be seeking affordable housing options that do not exceed the FMR threshold of $1,020 per month. Given the homeowner-dominated nature of the area, landlords may find that the pool of potential Section 8 tenants is smaller, and competition among landlords for these tenants could be less intense.
To attract and retain Section 8 tenants, landlords must ensure their properties meet the necessary standards and requirements set forth by the housing authority. Additionally, landlords should be prepared to work with the local housing agency to facilitate the voucher process and maintain compliance with the program guidelines.
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.