Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
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 | $1,450 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,780 | $372,869 | 0.48% | F |
| 3BR | $2,420 | $552,495 | 0.44% | F |
| 4BR | $2,910 | $695,666 | 0.42% | F |
U.S. Census Bureau data (2024)
The Welches, OR area (ZIP 97067) presents a unique opportunity for Section 8 investors within the larger Portland-Vancouver-Hillsboro, OR-WA MSA metro region. According to the latest HUD Fair Market Rent (FMR) data for fiscal year 2024, the FMR for the area is set at $1760. In contrast, the Census ACS data indicates that the current market rent stands at $1,653. This means that voucher tenants can generally cashflow at the FMR rate, providing a slight margin above the typical market rent.
To further analyze the investment potential, consider the median home value in the area, which is $455,929. The rent-to-price ratio, calculated using the HUD FMR, comes out to approximately 0.4%, indicating that rental income is relatively low compared to property values. However, this does not necessarily diminish the appeal of the area for investors, as it suggests a focus on cashflow rather than immediate capital appreciation.
The local real estate market shows a median Days on Market (DOM) of N/A and a price-cut share of 0.2%. These figures suggest that the buy-side market is stable and not particularly volatile, which can be beneficial for investors looking for consistent performance. The lack of significant price reductions also implies that there is little pressure on property owners to lower their asking prices, supporting the idea that the area offers good stability.
The strongest investor angle in Welches, OR is likely cashflow. Given the slight premium that voucher rents offer over market rates, investors can expect steady positive cashflow from properties in this area. While appreciation may not be the primary driver, the combination of stable property values and reliable tenant income makes this a solid choice for those seeking consistent returns.
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.