Location: Tillamook County, OR | Metro: Tillamook County, OR
| 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 |
U.S. Census Bureau data (2024)
The ZIP code 97122 presents an interesting scenario for both renters and landlords alike. With a median income of $91,058, households in this area have a relatively strong financial standing. However, the lack of specific market rate rental data indicates that there might be limited rental options available, given the small number of renters—only 0.0% of the 615 population.
To frame this from the renter's perspective, let's consider the Fair Market Rent (FMR) standard of $1,620, which is set for the metro area for fiscal year 2026. This figure represents the maximum amount that a household receiving a housing voucher would pay for rent in this ZIP code. For renters, this means that they could potentially find affordable housing if they qualify for assistance through the Section 8 program.
Despite the high median income, the low percentage of renters suggests that the housing market in 97122 is skewed towards homeownership. This implies that there is less demand for rental properties, which could translate into lower competition among landlords for tenants paying market rates. However, the absence of market rate data makes it difficult to assess the exact affordability gap faced by renters without vouchers.
The takeaway for landlords considering whether to accept Section 8 vouchers or focus on cash-paying tenants is clear. Given the limited number of renters and the potential for a smaller pool of cash-paying tenants, accepting vouchers can be a strategic move. It allows landlords to tap into a different segment of the market—one that is supported by government funding and ensures steady rental income at a fixed rate of $1,620. While cash-paying tenants might offer higher rents, the risk of having vacancies due to the limited rental market should also be considered.
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.