Location: Hood River County, OR | Metro: Hood River County, OR
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 | $1,380 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,700 |
| 4 Bedrooms | $3,260 |
| 5 Bedrooms | $3,782 |
| 6 Bedrooms | $4,236 |
| 7 Bedrooms | $4,575 |
| 8 Bedrooms | $4,804 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,490 | $532,796 | 0.28% | F |
| 2BR | $1,950 | $583,557 | 0.33% | F |
| 3BR | $2,700 | $718,775 | 0.38% | F |
| 4BR | $3,260 | $858,177 | 0.38% | F |
| 5BR | $3,782 | $1,024,188 | 0.37% | F |
U.S. Census Bureau data (2024)
The ZIP code 97031, located in Hood River, Oregon, presents a unique balance between yield and stability that makes it an interesting market for both landlords and small-portfolio investors. The Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,920, while the market rent stands slightly higher at $1,925. This indicates a competitive rental environment where landlords can expect to charge near-market rates.
The median home value in ZIP 97031 is $712,295, which suggests a relatively high barrier to entry for property flipping due to the significant capital investment required. However, the average household income of $91,858 provides a solid financial base for potential tenants, enhancing the likelihood of timely rent payments and reducing the risk of vacancies.
A key factor in determining the stability of this market is the percentage of renters, which stands at 32.0%. While this figure is not exceptionally high, it does indicate a substantial portion of the population relies on rentals, providing a consistent demand for rental properties. Unfortunately, the data does not provide the number of days on market (DOM), which would further clarify the speed of property turnover in the area.
Given these figures, ZIP 97031 leans towards being a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The near-parity between FMR and market rent, combined with the moderate renter population and strong average income, supports a predictable and stable rental income scenario. For those considering property flipping, the high median home value poses challenges, but for buy-and-hold investors seeking reliable cash flow, this market offers favorable conditions.
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.