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 | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,030 | $348,166 | 0.3% | F |
| 2BR | $1,270 | $417,061 | 0.3% | F |
| 3BR | $1,760 | $505,566 | 0.35% | F |
| 4BR | $1,950 | $671,976 | 0.29% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 97136, Rockaway Beach, OR, on the yield and stability axes reveals a unique investment scenario. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,380. However, the local market rent is currently lower at $1,118. This suggests a moderate potential for rental yield, given the gap between FMR and market rates.
When considering property values, the median home value in ZIP 97136 is $458,314. This figure is significant when calculating the expected return on investment (ROI) through rental income. With an average monthly rent of $1,118, the annual rental income would be approximately $13,416. To put this into perspective, if we consider a typical mortgage payment of around 1% of the home value annually, the cost would be roughly $4,583. This leaves a net rental income of about $8,833 per year, before other expenses such as maintenance, insurance, and taxes.
The stability of the market can be gauged by the percentage of renters, which stands at 22.9%. While this indicates that a portion of the population is likely to be seeking rental properties, it also suggests that the majority of residents own their homes, which could impact the demand for rentals. Additionally, the lack of data on days on market (DOM) makes it challenging to assess how quickly rental properties might turn over, which is a key factor in stability. The median household income in the area is $66,106, providing insight into the financial capability of potential tenants.
Based on these figures, ZIP 97136 appears to be a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The relatively low percentage of renters and the absence of data on DOM indicate a stable tenant base, which is favorable for long-term investments. However, the current market rent being below the FMR suggests there's room for modest yield improvements, making it suitable for investors looking for consistent, reliable returns without the volatility associated with flipping 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.