Location: Sherman County, OR | Metro: Sherman County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,810 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
U.S. Census Bureau data (2024)
The potential pitfalls for landlords investing in ZIP code 97065 under the Section 8 program are significant. Firstly, tenant turnover is a critical issue. The market rent stands at $1,167, while the Fair Market Rent (FMR) for FY 2026 in the metropolitan area is $1,430. This discrepancy can lead to frequent changes in occupancy as tenants who qualify for Section 8 might struggle to find units that match their budget. Secondly, vacancy exposure is a concern due to the lack of available data on days on market (DOM), which indicates how long properties typically remain vacant before securing a tenant. Lastly, the risk of deferred maintenance is notable, especially considering the median income of $53,875. While there is no typical home value data available, the lower median income suggests that tenants may have limited funds for maintaining property conditions beyond basic living requirements.
However, these risks must be weighed against the substantial number of renters in the area. ZIP 97065 has a renter share of 33.6%, indicating a high concentration of individuals who are likely to seek rental housing. This high renter density often translates into higher demand for Section 8 vouchers, potentially leading to quicker tenancy periods and reduced vacancy exposure. Additionally, the gap between market rent and FMR can be seen as an opportunity for landlords to attract tenants willing to pay the higher FMR, thus stabilizing cash flow despite the challenges associated with turnover and maintenance.
In conclusion, the overall risk for a first-time Section 8 landlord in ZIP 97065 is moderate. While there are considerable challenges, the high renter density provides a counterbalance that can mitigate some of the risks involved.
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.