Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,510 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $1,840 |
| 3 Bedrooms | $2,510 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
U.S. Census Bureau data (2024)
To determine if a landlord should invest in ZIP code 97144 for Section 8 properties, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1780 cover the debt service on a property?
If the FMR of $1780 does not exceed the total monthly debt service costs, including mortgage payments, property taxes, insurance, and maintenance, then the answer is No. A landlord must ensure that the rental income will fully cover these expenses to avoid financial loss.
2) How does the market rent compare to the FMR?
The market rent data for ZIP 97144 is currently unavailable. However, if the market rent were significantly higher than the FMR, it would indicate that Section 8 properties might struggle to compete with non-subsidized rentals, leading to lower occupancy rates. If the market rent is at or below the FMR, then the answer is Yes, as there is a better chance of filling units.
3) Is the demand sufficient with 0.0% of renters and N/A-day days on the market (DOM)?
The percentage of renters in ZIP 97144 being 0.0% suggests there is no rental population recorded, which is unusual and likely indicates incomplete data. Days on the market (DOM) data is also unavailable. If there were sufficient demand, characterized by a reasonable percentage of renters and a low DOM, the answer would be Yes. With the current lack of data, the answer is It Depends.
In conclusion, based on the available data for ZIP 97144, a landlord's decision to purchase a Section 8 property hinges on whether the FMR can cover their debt service and the unknown but critical factors of market rent levels and actual rental demand. Further investigation into local rental markets and detailed financial projections is necessary before making an informed decision.
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.