Location: Tillamook County, OR | Metro: Tillamook 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 | $920 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,270 | $296,579 | 0.43% | F |
| 3BR | $1,760 | $401,396 | 0.44% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 97118 in metro FY 2026 is set at $1,360. This figure represents the payment standard for Section 8 vouchers, which means it is the maximum amount the Housing Choice Voucher program will pay towards your tenant's rent. It is important to note that this does not represent the total rent you can charge; rather, it is the subsidy limit.
In comparison, the average rent for the area, according to the Census American Community Survey, is $1,109. This suggests that the FMR is slightly above the local average, providing a modest buffer for landlords. The fact that 29.2% of residents in the area are renters indicates a steady demand for rental properties, making it a viable market for new Section 8 rentals.
If you are looking to acquire a property in ZIP 97118, the median home value is approximately $349,522. This price point should be considered when evaluating the potential return on investment for a Section 8 rental. Given the subsidy and the local rental demand, you can expect a stable income stream from your tenants, though the initial investment is significant.
Before committing to a Section 8 rental in this ZIP code, ensure you verify the condition of the property against HUD’s Housing Quality Standards (HQS). These standards must be met for the property to qualify for the program, and failing to do so could result in disqualification or penalties. This is a critical step to take to avoid any issues down the line and to ensure compliance with the program requirements.
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.