Location: Wasco County, OR | Metro: Wasco 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 | $1,600 |
| 1 Bedroom | $1,620 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,780 |
| 4 Bedrooms | $3,240 |
| 5 Bedrooms | $3,758 |
| 6 Bedrooms | $4,209 |
| 7 Bedrooms | $4,546 |
| 8 Bedrooms | $4,773 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,780 | $469,617 | 0.59% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 97063 reveals a unique balance between yield potential and market stability, making it an intriguing option for both landlords and small-portfolio investors.
Yield Potential: The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $2,230, whereas the local market rent for ZIP 97063 is significantly lower at $1,155. This disparity indicates that there could be opportunities to capitalize on higher rental yields if properties are priced closer to the metro average. However, the median home value of $395,030 suggests a relatively high investment cost, which must be weighed against the expected rental income. The FMR provides a benchmark for assessing the potential rental income relative to the property's value, indicating that properties in this ZIP code might offer a moderate yield when compared to their purchase price.
Market Stability: With 18.2% of residents being renters, the ZIP code has a modest rental population, which can affect demand for rental properties. Unfortunately, the data does not provide information on the number of days a property stays on the market (DOM), which would be crucial for understanding how quickly units can be leased. The median household income of $58,490 gives insight into the financial capacity of potential tenants, suggesting that while there is a stable income level, it may limit the ability to command higher rents. This figure should be considered alongside the market rent to gauge the feasibility of raising rents to closer match the metro FMR without losing tenants.
In conclusion, ZIP 97063 presents a scenario that leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The moderate rental population and stable income levels support a consistent flow of rental income. While the potential exists to increase rental yields by aligning with the metro FMR, doing so requires careful consideration of the local economic conditions and tenant affordability. Investors should focus on securing properties that can generate reliable returns within the context of the local 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.