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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ZIP 73851 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 73851 (May, OK) is $940 a month. That is down 5.1% from $990 in FY 2026. May is in the Harper County, OK non-metropolitan FMR area. 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 county-wide two-bedroom FMR of $916. Among 4 ZIP codes in Harper County, 73851 has the 2nd-highest two-bedroom rent (county range $920–$950). The median county two-bedroom FMR in Oklahoma is $916, so ZIP 73851 is 3% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 73851
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$750
$720
−4.0%
$648–$792
1BR
$840
$810
−3.6%
$729–$891
2BR
$990
$940
−5.1%
$846–$1,034
3BR
$1,230
$1,210
−1.6%
$1,089–$1,331
4BR
$1,460
$1,360
−6.8%
$1,224–$1,496
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 73851
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$720
$810
$940
$1,210
$1,360
FY 2026
$750
$840
$990
$1,230
$1,460
FY 2025
$710
$750
$940
$1,150
$1,400
FY 2024area FMR
$677
$697
$891
$1,177
$1,297
FY 2023area FMR
$619
$620
$797
$1,128
$1,170
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Two-bedroom rent in nearby Harper County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 73851?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $916, which applies unless the housing authority uses Small Area FMRs, that basic range is $824 to $1,008 a month; under the ZIP-level Small Area FMR of $940 it would be $846 to $1,034. 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 73851 in?
ZIP 73851 is in the Harper County, OK non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $916.
How much did fair market rent change in ZIP 73851 for FY 2027?
The two-bedroom FMR fell 5.1%, from $990 in FY 2026 to $940 in FY 2027. Since FY 2025 it has risen 0.0%.
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