Location: Woodward County, OK | Metro: Harper County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,610 |
| 5 Bedrooms | $1,868 |
| 6 Bedrooms | $2,092 |
| 7 Bedrooms | $2,259 |
| 8 Bedrooms | $2,372 |
U.S. Census Bureau data (2024)
7.6% of residents in ZIP code 73842 are renters, indicating a modest demand for rental properties. Despite the lack of specific median income data, the area's median home value stands at $149,928, suggesting a middle-class community. The Fair Market Rent (FMR) for the metro area as of fiscal year 2026 is set at $1,170, which is $220 higher than the actual market rent of $950 reported by the Census ACS. This discrepancy presents an opportunity for landlords and small-portfolio investors to potentially increase rents without exceeding the affordability threshold set by HUD. However, the absence of data on the average days on market (DOM) and the percentage of homes that have had their prices cut indicates a lack of comprehensive market activity insights, which could be crucial for making informed investment decisions. Given the available data, landlords can expect to receive a monthly payment of up to $1,170 through the Section 8 program, which is above the current market rent. This suggests that participating in the Section 8 program could provide a stable and slightly above-market rental income. Therefore, for ZIP 73842, the Section 8 program is a viable option for securing steady tenant payments.
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.