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 | $1,180 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,850 |
| 5 Bedrooms | $3,306 |
| 6 Bedrooms | $3,703 |
| 7 Bedrooms | $3,999 |
| 8 Bedrooms | $4,199 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $618,741 | 0.27% | F |
| 3BR | $2,360 | $755,234 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 97041, located in Mount Hood Parkdale, Oregon, presents a dynamic rental market with interesting implications for both landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area, set at $1,700 for fiscal year 2026, indicates the government's assessment of what constitutes a reasonable rent for a two-bedroom apartment. This figure is notably higher than the actual market rent of $1,342, as reported by the Census American Community Survey (ACS).
The discrepancy between the FMR and the market rent suggests that there might be an oversupply of rental units in the area, or that tenants are facing affordability challenges. However, the median home value of $690,167 points towards a relatively affluent neighborhood, which could support higher rents if the demand were to increase.
A key indicator of the rental market's health is the 27.6% renter share. This percentage is significant because it signals a substantial portion of the population who are likely to continue renting rather than buying. In the long term, this high renter share implies consistent housing pressure, as a large number of residents will need to secure rental properties, potentially driving up demand and stabilizing rental rates.
The lack of data on price-cut share and days on market (DOM) makes it difficult to pinpoint the exact supply-demand balance. Nonetheless, the gap between the FMR and the current market rent, combined with the high median home value, suggests a complex market where the demand for rentals is currently being met, but could shift given changes in local economic conditions or new developments.
In summary, ZIP 97041 offers a market where the high median home value and the significant renter share create a scenario ripe for investment opportunities. Landlords and investors should monitor the local economy and any upcoming construction projects closely to anticipate shifts in the rental market dynamics.
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.