Section 8 Fair Market Rent (FMR) for ZIP 97008 - 2027
Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,490 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,830 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$96,116
Housing Authorities Serving ZIP 97008
To decide whether you should buy in ZIP code 97008 (Beaverton, OR) for Section 8 investments, follow this decision tree:
- Does FMR $1970 (zip FY 2024) clear debt service on a $565,540 property?
- Yes: The Fair Market Rent (FMR) of $1970 is sufficient to cover the debt service on a property valued at $565,540. This indicates that the rental income will meet the financial obligations associated with owning the property.
- No: If the FMR does not clear the debt service, purchasing in this area would not be advisable. The rental income would not be enough to sustain the mortgage payments and other costs.
- Is market rent $1,754 (ZORI) above, at, or below FMR?
- Above: If the Zillow Observed Rental Index (ZORI) of $1,754 is below the FMR of $1970, then Section 8 properties could still be profitable when considering the higher subsidized rent.
- At: If the ZORI equals the FMR, the market rent aligns perfectly with the subsidized rate, making it a neutral situation where neither profit nor loss is expected from the difference between market and subsidized rents.
- Below: If the ZORI is below the FMR, Section 8 tenants would pay more than the average market rate, which can provide an additional advantage for landlords.
- Are 43.1% renters + 10-day DOM enough demand?
- Yes: With 43.1% of the population being renters and an average Days on Market (DOM) of 10 days, there is strong demand for rental properties. This suggests that finding tenants, including those eligible for Section 8, should not be difficult.
- No: If the demand is insufficient, it might be challenging to find and retain tenants, which could affect the profitability of your investment. However, the current data shows a healthy demand for rentals.
- It depends: In scenarios where demand is marginal, consider other factors such as the local economy, job growth, and competition. Despite these uncertainties, the current data points towards a favorable market condition.
The decision to invest in ZIP 97008 for Section 8 properties hinges on the above factors. If the FMR covers debt service, the ZORI is below the FMR, and there is a robust rental market, the answer is clearly yes. Otherwise, reassess the risks and opportunities based on the specific outcomes of these conditions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.