Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Covington, OK fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Covington, OK is $1,010 a month. That is down 2.9% from $1,040 in FY 2026. Covington is in the Enid, OK MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $997. The median county two-bedroom FMR in Oklahoma is $916, so Covington is 10% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Covington, OK
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$800
$720
−10.0%
$648–$792
1BR
$810
$830
+2.5%
$747–$913
2BR
$1,040
$1,010
−2.9%
$909–$1,111
3BR
$1,350
$1,320
−2.2%
$1,188–$1,452
4BR
$1,380
$1,330
−3.6%
$1,197–$1,463
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Covington, OK
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$720
$830
$1,010
$1,320
$1,330
FY 2026
$800
$810
$1,040
$1,350
$1,380
FY 2025
$750
$750
$990
$1,280
$1,310
FY 2024
$690
$710
$930
$1,210
$1,240
FY 2023
$590
$610
$800
$1,030
$1,070
Questions about Covington, OK rents
How much will Section 8 pay for a two-bedroom in Covington, OK?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $997, which applies unless the housing authority uses Small Area FMRs, that basic range is $897 to $1,097 a month; under the ZIP-level Small Area FMR of $1,010 it would be $909 to $1,111. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Covington, OK in?
Covington, OK is in the Enid, OK MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $997.
How much did fair market rent change in Covington, OK for FY 2027?
The two-bedroom FMR fell 2.9%, from $1,040 in FY 2026 to $1,010 in FY 2027. Since FY 2023 it has risen 26.3%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set