Section 8 Fair Market Rent (FMR) for ZIP 97071 - 2027

Location: Salem, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA

Investment Score for ZIP 97071

Monthly Rent (2BR)

$1,750

Median Price (2BR)

$328,780

1% Rule

0.53%

Annual Yield

6.39%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,420
1 Bedroom	$1,510
2 Bedrooms	$1,750
3 Bedrooms	$2,420
4 Bedrooms	$2,800
5 Bedrooms	$3,248
6 Bedrooms	$3,638
7 Bedrooms	$3,929
8 Bedrooms	$4,125

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,750	$328,780	0.53%	F
3BR	$2,420	$433,638	0.56%	F
4BR	$2,800	$491,667	0.57%	F
5BR	$3,248	$546,021	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

33,123

Median Household Income

$70,938

Housing Units

11,616

Renter Percentage

36.1%

Occupancy Rate

96.9%

Renter Occupied

4,066

Woodburn, Oregon, located in ZIP code 97071, is a growing community that offers opportunities for real estate investors looking to capitalize on affordable housing trends and rental demand. The following analysis provides key metrics and insights relevant to landlords and small-portfolio investors.

The Fair Market Rent (FMR) for Woodburn, as set for fiscal year 2024, is $1,660. This figure represents the maximum amount that a household paying 30% of their income toward rent should spend in the area, offering a benchmark for rental pricing.
The market rent, as measured by Zillow's ZORI (Zestimate Observed Rent Index), stands at $1,735. This indicates that the actual rents charged are slightly above the FMR, reflecting a competitive market where demand meets supply.
The median home value in Woodburn is $423,721. This is a significant figure for potential property acquisitions, as it gives insight into the typical price range of homes in the area.
Renters make up 36.1% of the population in Woodburn. This substantial portion of the market suggests a strong demand for rental properties, particularly those that cater to affordability.
The days on market (DOM) for rental listings in Woodburn average 44 days. This relatively short period indicates that rental units are typically occupied quickly, reducing the risk of vacancy for landlords.
The median household income in Woodburn is $70,938. This income level supports the FMR and market rent figures, indicating that most residents can afford the prevailing rental rates.

For investors, Woodburn presents a balanced market with both rental and homeownership opportunities. The slight premium of market rents over FMR suggests that there is room for profit while still maintaining affordability for tenants. With a high renter share and quick turnover times, landlords can expect consistent demand and minimal vacancy periods. However, the median home value also signals that purchasing investment properties will require a significant initial capital outlay, balancing the need for a strong rental market with the cost of entry. Overall, Woodburn's economic indicators support a positive outlook for real estate investments, particularly in rental properties.

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.