Location: Major County, OK | Metro: Blaine County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,330 |
| 4 Bedrooms | $1,560 |
| 5 Bedrooms | $1,810 |
| 6 Bedrooms | $2,027 |
| 7 Bedrooms | $2,189 |
| 8 Bedrooms | $2,298 |
U.S. Census Bureau data (2024)
The ZIP code 73747 is primarily a renter-heavy area, with 37.6% of its population renting their homes. This percentage suggests a significant portion of the community relies on rental housing, which can translate into a robust demand for Section 8 vouchers.
Median household income in 73747 stands at $61,250, placing it slightly above the national average. However, without specific data on market rents, we cannot calculate the exact percentage of income that goes towards rent. Nonetheless, it's important to compare this income level to the Fair Market Rent (FMR) figure of $1,030, which is set for the fiscal year 2026 and represents the metro area's average rent.
To understand how typical rent compares to local incomes, consider that if the market rent were close to the FMR, then a household earning the median income would be spending approximately 20% of their annual income on rent alone. This calculation is based on the assumption that the market rent aligns closely with the FMR, which is a reasonable starting point in the absence of more specific data.
A landlord in 73747 should expect tenants who are likely to be reliant on Section 8 vouchers due to the significant percentage of renters and the income levels relative to the FMR. These tenants will typically have a household income that qualifies them for the voucher program, which caps out at around 50% of the Area Median Income (AMI).
The expected tenant profile includes individuals or families who may be working but also require government assistance to meet their housing needs. Landlords should prepare for tenants who are financially constrained but committed to paying their rent through the voucher program. It's crucial for landlords to understand the administrative aspects of the Section 8 program to ensure smooth tenancy and compliance with federal guidelines.
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.