Location: Woodward County, OK | Metro: Woodward County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $910 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,200 |
| 3 Bedrooms | $1,430 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
U.S. Census Bureau data (2024)
The ZIP code 73857 has a population of 918 individuals, with 17.0% of them being renters. The median household income in this area is $65,368. This suggests that the ZIP is more homeowner-dominated rather than renter-heavy, which implies that the demand for Section 8 vouchers might be lower compared to areas with a higher percentage of renters.
The market rent in ZIP 73857 stands at $1,102. To understand how this compares to the local income, we can calculate that the typical rent eats up approximately 17% of the median household income. This figure is derived from dividing the market rent by the median household income and multiplying by 100: ($1,102 / $65,368) * 100 = 16.85%, rounded to 17%.
Furthermore, the Fair Market Rent (FMR) for the metro area is set at $1,230 for fiscal year 2026. This means that the current market rent in ZIP 73857 is below the FMR, indicating that rental properties here are generally more affordable relative to the broader metro area.
Landlords in ZIP 73857 should anticipate tenants who are likely to be financially constrained, relying on Section 8 vouchers to cover their housing costs. These tenants will represent a smaller portion of the total population due to the relatively low percentage of renters. However, given the affordability of the market rent compared to the median income, those seeking rental housing will find the cost to be a significant but manageable portion of their earnings. Landlords should prepare for a tenant base that values stability and affordability, possibly including families and individuals with limited income resources.
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.