HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Stephens County, Oklahoma (FY 2026)
HUD's FY 2026 Fair Market Rent for a two-bedroom in Stephens County is $937 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
2 bedroom FMR
$937
FY 2026, utilities included
Payment standard range
$843 to $1,031
90% to 110% of FMR
Income to afford 2BR
$37,480
per year, at 30% of income
Rank in Oklahoma
75th of 77
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Stephens moves to $916. That's down 2%. The full FY 2027 table is in the history section below.
HUD's number is one input. What does a two-bedroom in Stephens actually rent for?
Search any address in Stephens for a rent estimate built from nearby comps, with the HUD figure right next to it.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $775 | $698 to $853 | $31,000 | $14.90/hr | +0.9% |
| 1 bedroom | $779 | $701 to $857 | $31,160 | $14.98/hr | +0.8% |
| 2 bedroom | $937 | $843 to $1,031 | $37,480 | $18.02/hr | +3.0% |
| 3 bedroom | $1,303 | $1,173 to $1,433 | $52,120 | $25.06/hr | +2.2% |
| 4 bedroom | $1,509 | $1,358 to $1,660 | $60,360 | $29.02/hr | +1.2% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $1,735 | $1,562 to $1,909 |
| 6 bedroom Estimate | $1,962 | $1,766 to $2,158 |
| 7 bedroom Estimate | $2,188 | $1,969 to $2,407 |
| 8 bedroom Estimate | $2,414 | $2,173 to $2,655 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Stephens, that runs from $775 for a studio up to $1,509 for four bedrooms, all five rates in the table above.
Because Stephens sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Duncan included.
Among Oklahoma's 77 counties, Stephens ranks 75th for two-bedroom FMR. That's within a couple percent of the state median of $937 and about 8% below the national median county at $1,018. About 43,140 people live here, 23rd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $940 in 73055 (Marlow) and $1,040 in 73491 (Velma), with the 8 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Stephens somewhere between $843 and $1,031. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$937 a month is affordable, by HUD's 30% rule, on an income of roughly $37,480 a year. Put another way, $18 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($843) | HAP at 100% ($937) | HAP at 110% ($1,031) |
|---|---|---|---|---|
| $2,500 | $750 | $93 | $187 | $281 |
| $4,000 | $1,200 | $0 | $0 | $0 |
Rate history
The two-bedroom rate went up 3% from FY 2025 ($910) to FY 2026 ($937). Since FY 2020 it's up 37% in total, about 5.3% a year. The Oklahoma median moved up 3% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $465 | $539 | $686 | $905 | $974 | — |
| FY 2021 | $561 | $577 | $728 | $984 | $1,076 | +6.1% |
| FY 2022 | $584 | $588 | $740 | $1,013 | $1,144 | +1.6% |
| FY 2023 | $639 | $643 | $797 | $1,115 | $1,269 | +7.7% |
| FY 2024 | $734 | $739 | $891 | $1,256 | $1,437 | +11.8% |
| FY 2025 | $768 | $773 | $910 | $1,275 | $1,491 | +2.1% |
| FY 2026 | $775 | $779 | $937 | $1,303 | $1,509 | +3.0% |
| FY 2027 | $744 | $749 | $916 | $1,268 | $1,467 | -2.2% |
Nearby counties
Questions people ask
$937 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $775 for a studio, $779 for one bedroom, $1,303 for three and $1,509 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Stephens actually go for?
HUD's number is one input. Search any address in Stephens for a rent estimate built from nearby comps. 3 free searches, no card.
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