Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,730 | $367,580 | 0.47% | F |
| 3BR | $2,360 | $469,690 | 0.5% | F |
| 4BR | $2,830 | $589,190 | 0.48% | F |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 investment in ZIP code 97024 in Fairview, OR, must be carefully considered. Tenant turnover is a significant concern, as the market rent stands at $1,751, which is lower than the Fair Market Rent (FMR) of $1,920 for FY 2024. This disparity can lead to higher turnover rates as tenants seek more affordable housing options. Additionally, vacancy exposure is a critical issue due to the lack of available data on days on market (DOM), indicating uncertainty in how quickly units might fill up. The deferred maintenance risk is also noteworthy, considering the typical home value of $478,583 and the median income of $69,679. These figures suggest that homeowners might struggle to keep up with necessary repairs and improvements, potentially leading to higher maintenance costs for landlords.
However, these risks are balanced by the high renter share of 53.9%. High renter density typically correlates with greater demand for rental properties, including those accepting Section 8 vouchers. This demand can help mitigate the risks associated with tenant turnover and vacancy exposure, ensuring a steady stream of potential tenants. Furthermore, the robust rental market can provide landlords with opportunities to manage their properties effectively, even with the challenges posed by lower median incomes.
In conclusion, the risks for a first-time Section 8 landlord in ZIP 97024 are moderate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.