Section 8 Fair Market Rent (FMR) for ZIP 97148 - 2027

Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA

Investment Score for ZIP 97148

Monthly Rent (2BR)

$1,880

Median Price (2BR)

$491,127

1% Rule

0.38%

Annual Yield

4.59%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,530
1 Bedroom	$1,630
2 Bedrooms	$1,880
3 Bedrooms	$2,550
4 Bedrooms	$3,070
5 Bedrooms	$3,561
6 Bedrooms	$3,988
7 Bedrooms	$4,307
8 Bedrooms	$4,522

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,880	$491,127	0.38%	F
3BR	$2,550	$603,487	0.42%	F
4BR	$3,070	$680,819	0.45%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,738

Median Household Income

$109,179

Housing Units

1,168

Renter Percentage

8.1%

Occupancy Rate

91.7%

Renter Occupied

The ZIP code 97148, located in Yamhill, Oregon, is characterized by its rural setting and proximity to natural landscapes, making it a desirable location for those seeking a quieter lifestyle. This area benefits from a robust local economy, supported by agriculture, viticulture, and tourism, which contributes to a steady demand for rental properties.

The Fair Market Rent (FMR) for ZIP 97148 in fiscal year 2024 is set at $1970, indicating the government's benchmark for affordable housing in the region.
The market rent for the area, as per the latest Census American Community Survey (ACS), stands at $1,616, reflecting the actual rental rates landlords can expect in the competitive market.
The median home value in ZIP 97148 is $615,728, suggesting that the real estate market is relatively strong and indicative of the investment potential in the area.
Renters make up 8.1% of the population, a figure that highlights the importance of rental properties to the community and the need for continued supply.
The median income of residents is $109,179, which is significantly higher than the national average, providing a strong financial foundation for both homeowners and renters.

Investors looking to enter the ZIP 97148 market should consider the discrepancy between the FMR and the actual market rent, which presents an opportunity to balance affordability with profitability. The high median income supports the ability of tenants to meet rental obligations, while the relatively low renter share suggests room for growth in the rental sector. Given the strong median home values, the real estate market in Yamhill appears to be resilient, offering a favorable environment for long-term investments.

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.