Location: Salem, OR | Metro: Salem, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,410 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $2,790 |
| 5 Bedrooms | $3,236 |
| 6 Bedrooms | $3,624 |
| 7 Bedrooms | $3,914 |
| 8 Bedrooms | $4,110 |
U.S. Census Bureau data (2024)
The ZIP code 97137, located in St. Paul, OR, presents a unique real estate landscape when analyzed through the lens of yield and stability.
In terms of yield, the Fair Market Rent (FMR) for ZIP 97137 in fiscal year 2024 is $1,610, significantly higher than the market rent of $1,344. This indicates a potential for above-average rental income, making it a favorable location for generating cash flow. However, the median home value of $587,007 suggests that the initial investment required for property acquisition is substantial. Despite this, the disparity between FMR and market rent implies that properties in this ZIP can command higher rents, leading to a better yield for landlords and small-portfolio investors.
Regarding stability, the ZIP code shows a 33.0% rate of renters, indicating a moderate level of tenant presence. The lack of data on days on market (DOM) prevents a direct assessment of how quickly properties are rented out. However, the median household income of $106,488 provides a strong indicator of financial stability among residents, suggesting that tenants are likely to have the means to pay rent consistently. This income figure supports the notion that the area is stable and less prone to significant fluctuations in rental demand.
Based on these figures, ZIP 97137 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The higher FMR compared to market rent points to a decent yield, while the solid median income and moderate rental rate suggest a stable environment for long-term investments. This classification makes it suitable for landlords and small-portfolio investors looking for consistent returns without the volatility associated with speculative markets.
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.