Location: Albany, OR | Metro: Albany, OR MSA
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 | $1,250 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,790 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,770 |
| 5 Bedrooms | $3,213 |
| 6 Bedrooms | $3,599 |
| 7 Bedrooms | $3,887 |
| 8 Bedrooms | $4,081 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,790 | $307,931 | 0.58% | F |
| 3BR | $2,470 | $405,299 | 0.61% | D |
| 4BR | $2,770 | $486,998 | 0.57% | F |
| 5BR | $3,213 | $552,013 | 0.58% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 97322 (Albany, OR) on the axes of yield and stability reveals a market that leans towards steady cash flow rather than being a high-yield/low-stability flip-style market. The Federal Market Rent (FMR) for ZIP 97322 in fiscal year 2024 is set at $1,390, while the market rent stands at $1,723. This suggests a reasonable premium over the FMR, indicating a decent rental yield for properties participating in the Section 8 program.
To further assess the yield potential, consider the median home value of $405,927. A property rented out at $1,723 per month would generate an annual rental income of $20,676, which translates to an approximate annual yield of 5.1%. This yield is modest but still attractive for many investors seeking stable returns.
Moving onto stability, the data shows that 45.4% of residents in ZIP 97322 are renters. This percentage is relatively low compared to other areas known for transient populations, suggesting a more stable tenant base. Additionally, the average days on market (DOM) for rentals is 37 days, which is quite competitive and indicates a healthy demand for rental properties.
The median household income in the area is $69,808, providing insight into the financial capacity of potential tenants. This income level supports the ability of residents to meet their rent obligations, contributing to the stability of the rental market.
Conclusion: ZIP 97322 presents a balanced opportunity for landlords and small-portfolio investors. It offers a moderate yield through market rents above the FMR, coupled with a stable tenant environment characterized by a substantial portion of homeowners and a median income sufficient to cover rent. This makes it a suitable choice for those prioritizing consistent cash flow over high-risk, high-reward 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.