FMR is below market; voucher rent may lag private rents.
0.88
1 BR
1 BR
0.94ratio
FMR$1,350
Market$1,440
vs market-$90
FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR
1.13ratio
FMR$1,650
Market$1,460
vs market+$190
FMR is above market; underwrite to market rent.
1.13
3 BR
3 BR
1.46ratio
FMR$2,230
Market$1,530
vs market+$700
FMR is above market; underwrite to market rent.
1.46
4 BR
4 BR
1.18ratio
FMR$2,500
Market$2,120
vs market+$380
FMR is above market; underwrite to market rent.
1.18
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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ZIP 73097 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 73097 (Wheatland, OK) is $1,650 a month. That is up 1.9% from $1,620 in FY 2026. Wheatland 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 82 ZIP codes in Oklahoma County, 73097 has the 8th-highest two-bedroom rent (county range $920–$1,900). The median county two-bedroom FMR in Oklahoma is $916, so ZIP 73097 is 80% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 73097
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,220
$1,250
+2.5%
$1,125–$1,375
1BR
$1,320
$1,350
+2.3%
$1,215–$1,485
2BR
$1,620
$1,650
+1.9%
$1,485–$1,815
3BR
$2,180
$2,230
+2.3%
$2,007–$2,453
4BR
$2,410
$2,500
+3.7%
$2,250–$2,750
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 73097
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,250
$1,350
$1,650
$2,230
$2,500
FY 2026
$1,220
$1,320
$1,620
$2,180
$2,410
FY 2025
$1,150
$1,250
$1,530
$2,040
$2,230
FY 2024
$1,060
$1,140
$1,410
$1,880
$2,070
FY 2023
$1,010
$1,070
$1,320
$1,750
$1,990
Two-bedroom rent in nearby Oklahoma County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 73097?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,650, that basic range is $1,485 to $1,815 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 73097 in?
ZIP 73097 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 73097 for FY 2027?
The two-bedroom FMR rose 1.9%, from $1,620 in FY 2026 to $1,650 in FY 2027. Since FY 2023 it has risen 25.0%.
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