Section 8 Fair Market Rent (FMR) for ZIP 97308 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 97308, located in Oregon, is an area that offers unique opportunities for real estate investment, particularly in the context of Section 8 housing. The market here is influenced by various factors including federal guidelines, local economic conditions, and the demand for affordable housing.

• Fair Market Rent (FMR): For the fiscal year 2024, the Fair Market Rent in ZIP 97308 is set at $1330. This figure represents the maximum amount landlords can charge for Section 8 rental units, providing a clear benchmark for pricing.
• Market Rent: Unfortunately, specific data on market rent for ZIP 97308 is currently unavailable. However, the FMR provides a useful reference point for understanding the affordability range in the area.
• Median Home Value: Data indicating the median home value in ZIP 97308 is also not available. Without this information, it's challenging to compare the value of homes to the rental rates.
• Renter Share: The percentage of residents who are renters is unknown for ZIP 97308. This metric would help gauge the overall demand for rental properties in the area.
• Days on Market (DOM): There is no data available regarding the average days on market for rental listings in ZIP 97308. This could provide insight into how quickly properties are being leased.
• Median Income: Specific data on the median income for ZIP 97308 is not available. Understanding the income levels of potential tenants is crucial for setting realistic rental prices and ensuring stable tenancy.

Given the limited data available, the most reliable figure for investment consideration in ZIP 97308 is the Fair Market Rent of $1330 for Section 8 units. Landlords should price their rentals accordingly to comply with federal guidelines while also maximizing their returns. The lack of specific market rent, median home value, and other key metrics makes it difficult to fully assess the competitive landscape and demand for rental properties. Investors must rely on the FMR as a guide and consider conducting further research to fill these gaps and make informed decisions about the potential profitability of the area.

Data Sources: FMR data from HUD (2027).

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.