Section 8 Fair Market Rent (FMR) for ZIP 74172 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 74172 in Unknown, OK, for fiscal year 2024 is set at $1140. This figure represents the maximum amount that a landlord can charge a Section 8 tenant for rent. It's important to note that this is not the actual rent you will receive; it's the ceiling on what you can charge your tenants.

In comparison to the local market, the FMR does not exceed typical rental rates in this area, which are currently listed as N/A. The percentage of renters in ZIP 74172 who might be interested in Section 8 housing is N/A%, indicating a potential demand for your property if it meets the necessary criteria.

When acquiring a property to use as a Section 8 rental, consider the average home value in the area, which is also listed as N/A. This can help you determine whether the investment aligns with your financial goals and expectations.

To ensure your property is suitable for Section 8 tenants, you must verify that it meets the Housing Quality Standards (HQS). These standards are designed to ensure that all Section 8 properties are safe, decent, and sanitary. Failure to meet these standards could result in disqualification from the program, so it's crucial to inspect your property thoroughly and make any necessary repairs before applying.

Remember, while the FMR of $1140 sets the maximum allowable rent, the actual rent you receive may be lower depending on the tenant's income and the program's guidelines. However, the stability and government-backed nature of Section 8 payments can provide a reliable source of income for landlords and small-portfolio investors.

Data Sources: FMR data from HUD (2027).

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.