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McClain County/Alex/73002

73002

ZIPSAFMR
McClain County, OK
Zillow

ZIP Investment Score

104Above average

095130300
BRFMR
Eff. Rent
0 BR$660$660
1 BR$720$720
2 BR$940$940
3 BR$1,270$1,270
4 BR$1,570$1,570
5 BR$1,805Not available
6 BR$2,076Not available
7 BR$2,388Not available
8 BR$2,746Not available

Purchase Price Calculator

Maximum purchase price
$77,767

Cost breakdown

+Likely effective rent$940
HUD FMRUsed$940
Market rentN/A
Est. payment standardN/A
-Principal and interest-$393
Loan amount$62,214
Down payment$15,553
Rate6.50%
Term30 years
-Operating costs-$347
Property taxes-$78
Insurance-$175
Utilities$0
HOA$0
Management-$94
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$15,409(99.1% ROI)
Projected value
$83,747
Return breakdown
Property appreciation+$5,980
Loan principal paid down+$2,229
Rental cash flow+$7,200
5-year hold
+$26,194(168.4% ROI)
Projected value
$87,986
Return breakdown
Property appreciation+$10,219
Loan principal paid down+$3,975
Rental cash flow+$12,000
10-year hold
+$55,253(355.2% ROI)
Projected value
$99,548
Return breakdown
Property appreciation+$21,781
Loan principal paid down+$9,471
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

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
--
Mortgage rate
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ZIP 73002 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 73002 (Alex, OK) is $940 a month. That is unchanged from FY 2026. Alex is in the Oklahoma City, OK HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 13 ZIP codes in McClain County, 73002 has the 11th-highest two-bedroom rent (county range $920–$1,320). The median county two-bedroom FMR in Oklahoma is $916, so ZIP 73002 is 3% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 73002
BedroomsFY 2027Change90–110% range
Studio$660−2.9%$594–$726
1BR$7200.0%$648–$792
2BR$9400.0%$846–$1,034
3BR$1,270+1.6%$1,143–$1,397
4BR$1,570+0.6%$1,413–$1,727

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 73002
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$660$720$940$1,270$1,570
FY 2026$680$720$940$1,250$1,560
FY 2025$750$800$990$1,310$1,520
FY 2024$700$740$920$1,220$1,460
FY 2023$650$680$840$1,120$1,310

Two-bedroom rent in nearby McClain County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 73002
73002Current$940—
73010$1,200+27.7%
73031$1,200+27.7%
73052$980+4.3%
73057$950+1.1%
73065$1,150+22.3%
73072$1,320+40.4%
73074$930−1.1%
73080$1,030+9.6%
73093$1,220+29.8%
73095$1,030+9.6%
74831$980+4.3%

Questions about ZIP 73002 rents

How much will Section 8 pay for a two-bedroom in ZIP 73002?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $940, that basic range is $846 to $1,034 a month. 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 ZIP 73002 in?

ZIP 73002 is in the Oklahoma City, OK HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 73002 for FY 2027?

The two-bedroom FMR was unchanged at $940 in FY 2027. Since FY 2023 it has risen 11.9%.

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

County fair market rentAlex, OK fair market rentOK statewide rentsWhat is SAFMR?Data sources