Section 8 Fair Market Rent (FMR) for ZIP 73853 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$950
1 Bedroom	$960
2 Bedrooms	$1,260
3 Bedrooms	$1,510
4 Bedrooms	$2,100
5 Bedrooms	$2,436
6 Bedrooms	$2,728
7 Bedrooms	$2,946
8 Bedrooms	$3,093

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, the Fair Market Rent (FMR) for ZIP code 73853 in fiscal year 2026 is set at $1,390. However, the current market rent for the area is not readily available, which suggests it might be lower or higher than the FMR. Given the lack of precise market rent figures, we can infer from the demographics that rentals in 73853 are typically priced between $750 and $999 per month, especially for properties with 3 or more bedrooms. This indicates a significant gap between the FMR and the potential market rent, which could be as high as $440, or approximately 31.7% above the FMR.

The gap between the FMR and the market rent in ZIP 73853 makes this an interesting investment scenario for landlords and small-portfolio investors. If the actual market rent is indeed higher than the FMR, accepting Section 8 tenants would mean renting below market rates. This discrepancy means landlords must carefully consider the financial implications of such a decision.

With only 16.0% of residents being renters and the median income at $91,750, the rental market in 73853 appears to be less competitive compared to other areas. This could mean that landlords who accept Section 8 vouchers might have fewer options for higher-paying market-rate tenants. Therefore, the decision to rent to voucher holders should be anchored in the broader context of the local economy and the landlord's overall investment strategy.

If the market rent is lower than the FMR, then the gap works in favor of landlords, allowing them to receive payments close to the FMR while potentially renting out units at a lower market rate. This scenario would make the ZIP code a yield play, where landlords can benefit from stable government-backed income without setting their own rent too high.

In summary, the analysis of the Section 8 thesis in ZIP 73853 must account for the significant gap between the FMR and the potential market rent. Landlords should weigh the benefits of stable income against the possibility of renting below market rates, considering the local economic conditions and tenant demographics.

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.