Location: Cimarron County, OK | Metro: Cimarron 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 | $710 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $920 |
| 3 Bedrooms | $1,200 |
| 4 Bedrooms | $1,310 |
| 5 Bedrooms | $1,520 |
| 6 Bedrooms | $1,702 |
| 7 Bedrooms | $1,838 |
| 8 Bedrooms | $1,930 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,200 | $104,052 | 1.15% | B |
U.S. Census Bureau data (2024)
The analysis of Section 8 real estate in ZIP 73933, which covers parts of Boise City, OK, reveals a significant gap between the Fair Market Rent (FMR) set at $940 for the metro area in fiscal year 2026 and the actual market rent of $729 based on Census ACS data. This means there is a $211 difference, or approximately 29%, between what the government deems as fair market rent and what the open market currently offers.
Given that the FMR exceeds the market rent, landlords and small-portfolio investors should consider the benefits of accepting Section 8 voucher tenants. Voucher holders can help fill vacancies and provide a steady source of income due to the government subsidy. However, it's important to understand that while the FMR is higher, the tenant's portion of the rent will remain lower, typically around 30% of their income. In ZIP 73933, with a median income of $49,904, voucher tenants would contribute about $1,247 annually towards the rent, making the investment a yield play rather than a high-profit venture.
The context of 73933 includes a 32.5% rental rate, indicating a moderate demand for rental properties. The median home value stands at $76,324, suggesting that homeownership is relatively affordable in this area. Given these conditions, the opportunity to receive a guaranteed rent amount through Section 8 vouchers can be particularly attractive to landlords who wish to avoid the risk of vacancy and maintain a consistent cash flow.
However, landlords must also consider the administrative aspects of participating in the Section 8 program, such as undergoing regular inspections and adhering to specific maintenance standards. While the FMR provides a higher benchmark than the current market rent, it does not guarantee a profit margin above typical market rates. Instead, it ensures a stable income stream for units rented to voucher holders, making it a strategic choice for those focused on long-term, reliable returns.
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.