Location: Texas County, OK | Metro: Cimarron County, OK
| Unit Size | Monthly FMR |
|---|---|
| Studio | $770 |
| 1 Bedroom | $810 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
U.S. Census Bureau data (2024)
The ZIP code 73947 presents several challenges for landlords considering Section 8 investments. Firstly, tenant turnover could be a significant issue due to the discrepancy between the market rent and the $950 Fair Market Rent (FMR) set for fiscal year 2026. This gap suggests that landlords might face difficulties in attracting tenants willing to pay the higher market rates, leading to frequent turnovers.
Vacancy exposure is another concern. With an average of N/A days on the market (DOM), it's unclear how quickly properties can be rented out. However, the lack of data on DOM does not necessarily indicate poor performance, but it does mean there is uncertainty around how long units may remain vacant. Given the $136,389 median income in the area, tenants may struggle to afford even the FMR, potentially increasing the likelihood of vacancies.
Deferred maintenance is also a risk factor. The typical home value is not specified, which makes it difficult to assess the condition of properties. If homes are older or in need of repair, the costs associated with bringing them up to code for Section 8 eligibility could be substantial. Landlords must be prepared to invest in necessary repairs and maintenance to ensure compliance with housing standards.
Despite these risks, the ZIP code has a high renter density, with 5.3% of residents being renters. High renter density often translates into greater demand for rental assistance programs like Section 8, which can help mitigate the risk of vacancies. Additionally, the presence of a significant number of renters indicates a robust market for affordable housing, which can provide a steady stream of potential tenants.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.