Section 8 Fair Market Rent (FMR) for ZIP 97112 - 2027

Location: Tillamook County, OR | Metro: Tillamook County, OR

Investment Score for ZIP 97112

Monthly Rent (2BR)

$1,490

Median Price (2BR)

$435,669

1% Rule

0.34%

Annual Yield

4.1%

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	$1,060
1 Bedroom	$1,180
2 Bedrooms	$1,490
3 Bedrooms	$2,060
4 Bedrooms	$2,310
5 Bedrooms	$2,680
6 Bedrooms	$3,002
7 Bedrooms	$3,242
8 Bedrooms	$3,404

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
1BR	$1,180	$378,875	0.31%	F
2BR	$1,490	$435,669	0.34%	F
3BR	$2,060	$525,674	0.39%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,296

Median Household Income

$61,061

Housing Units

1,511

Renter Percentage

30.6%

Occupancy Rate

58.3%

Renter Occupied

270

The Cloverdale neighborhood, located within ZIP code 97112 in Portland, Oregon, offers a blend of urban convenience and suburban tranquility. This area is known for its diverse community and proximity to key amenities, making it an attractive location for both residents and investors.

The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,620, providing a benchmark for rental pricing in the neighborhood.
The actual market rent for Cloverdale, according to the latest Census American Community Survey (ACS), stands at $1,343. This figure reflects the current rental landscape and indicates potential room for growth towards the FMR target.
The median home value in the area is $466,686, which is higher than the national average and suggests a stable housing market with good appreciation potential.
Renters make up 30.6% of the population in Cloverdale, indicating a significant portion of the market that relies on rental properties for housing.
The median household income in the neighborhood is $61,061, which is slightly above the national median income. This signals a moderate economic base that can support current and potentially higher rental rates.

Analyzing these points, Cloverdale presents a balanced investment opportunity. The discrepancy between the Fair Market Rent and the current market rent suggests potential for increasing rental yields. With a substantial renter share and a median income level that supports rental affordability, landlords and small-portfolio investors can expect a steady demand for rental properties. However, the high median home value indicates a competitive market, where property appreciation may be tempered by local economic conditions. Overall, Cloverdale's mix of urban and suburban characteristics, coupled with its financial metrics, makes it a promising area for real estate investment, 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.