Location: Woodward County, OK | Metro: Harper 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 | $750 |
| 1 Bedroom | $760 |
| 2 Bedrooms | $990 |
| 3 Bedrooms | $1,180 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $990 | $64,428 | 1.54% | A+ |
| 3BR | $1,180 | $144,475 | 0.82% | C |
| 4BR | $1,650 | $241,476 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP 73801, located in Woodward, OK, represents a strategic fit within a Section 8 portfolio due to its characteristics as a cash-flow anchor. The area's Federal Market Rent (FMR) for FY 2026 is set at $1,050 for metro areas, while the current market rent stands at $829. This $221 difference per unit annually can be a significant cash flow positive for landlords participating in the Section 8 program. By leveraging this spread, landlords can ensure steady and reliable income that outpaces local market rents.
The median home value in ZIP 73801 is $133,011, which suggests that the housing stock is relatively affordable and accessible. This makes it easier for landlords to acquire properties at lower costs, thereby increasing their profit margins when they receive Section 8 rental assistance payments. Additionally, the low price-cut share of 0.2% indicates that homes in this area are generally priced correctly, reducing the risk of overpaying for properties.
While the renter share of 30.1% and median income of $58,877 could suggest opportunities for appreciation and diversification, the primary focus should remain on cash flow. The lack of data on days on market (DOM) and the modest renter share indicate that the market for appreciation plays is limited. Instead, landlords should capitalize on the guaranteed income stream from the government through the Section 8 program, which is particularly valuable given the stable and predictable nature of the rent spreads.
To summarize, ZIP 73801 is best suited as a cash-flow anchor within a Section 8 portfolio. Landlords will benefit from the $221 annual spread between FMR and market rent, ensuring a consistent and reliable income source. The affordable median home value further enhances profitability, making it an attractive option for those looking to stabilize their investment income without relying heavily on property appreciation or diversification strategies.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.