Location: Sherman County, OR | Metro: Sherman County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $930 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,520 |
| 4 Bedrooms | $2,040 |
| 5 Bedrooms | $2,366 |
| 6 Bedrooms | $2,650 |
| 7 Bedrooms | $2,862 |
| 8 Bedrooms | $3,005 |
U.S. Census Bureau data (2024)
The real estate market in ZIP 97039 presents several considerations for landlords and small-portfolio investors. Let's address some common objections.
Data from Realtor.com and Redfin indicate that the median home price in ZIP 97039 is approximately $150,000. Assuming a 20% down payment and a 30-year fixed-rate mortgage at an average interest rate of 5%, the monthly mortgage payment would be roughly $650. The Fair Market Rent (FMR) of $1,310 for the metro area in fiscal year 2026 comfortably covers this amount, leaving room for maintenance, insurance, and other expenses.
The rental demand in ZIP 97039 is relatively low at 32.3%. However, this figure does not necessarily indicate a lack of potential tenants. According to Zillow and Trulia, there are currently 70 rental properties listed in the area, suggesting a steady interest among renters. Additionally, the presence of multiple platforms listing rental properties indicates active engagement in the local housing market.
The data does not provide a direct comparison between the voucher utilization rate and market rents in ZIP 97039. However, given the FMR of $1,310 and the average market rent of $990, landlords who accept vouchers may find that they still receive competitive rental income. It's important to note that voucher programs aim to cover a significant portion of the rent, often up to 70-80%, which can still be viable for landlords.
In conclusion, while the data provides a mixed picture, it suggests that the real estate market in ZIP 97039 can be favorable for investors who carefully consider their property choices and tenant selection strategies.
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.