Location: Wasco County, OR | Metro: Wasco County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,610 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,770 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 97040 in Wasco County, Oregon reveals a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro area, set at $2,120 for fiscal year 2026, significantly exceeds the current market rent of $1,169 as reported by the Census ACS. This gap indicates that voucher tenants can easily cover the cost of typical rental units, leading to strong cashflow for property owners.
To further understand the investment potential, consider the median home value in ZIP 97040, which stands at $586,848. Using this figure, we can calculate the rent-to-price ratio, which is approximately 0.20%. This low ratio suggests that rental income is relatively modest compared to the purchase price of homes, but it also underscores the stability of rental demand given the high cost of homeownership in the area.
Despite the lack of specific data on median days on market (DOM) and the percentage of price cuts, the rent-versus-buy dynamics still favor rental investments. High home values make renting an attractive option for many residents, ensuring consistent demand for rental properties. Additionally, the strong disparity between the HUD FMR and the actual market rent means that landlords can rely on Section 8 vouchers to achieve positive cashflow without needing to invest in premium units.
The strongest investor angle in ZIP 97040 is cashflow. Landlords can expect reliable income from voucher tenants, making this area particularly appealing for those seeking steady returns on their rental investments.
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.