Location: Salem, OR | Metro: Salem, 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 | $1,600 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $2,110 |
| 3 Bedrooms | $2,920 |
| 4 Bedrooms | $3,200 |
| 5 Bedrooms | $3,712 |
| 6 Bedrooms | $4,157 |
| 7 Bedrooms | $4,490 |
| 8 Bedrooms | $4,715 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,110 | $372,809 | 0.57% | F |
| 3BR | $2,920 | $468,132 | 0.62% | D |
| 4BR | $3,200 | $574,127 | 0.56% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 97325, encompassing Aumsville, OR, within the Salem, OR MSA, does not favor landlords. The Fair Market Rent (FMR) set at $1310 for fiscal year 2024 contrasts sharply with the Census ACS-reported market rent of $1773. This discrepancy means that landlords who rely on Section 8 vouchers will receive less rent compared to what the market demands.
Acquisition costs remain a concern in this area. With a median home value of $488,461, purchasing property is relatively expensive. However, the lack of available data on days on market (DOM) and the percentage of homes requiring price cuts suggests that the housing market is stable, without significant overpricing or prolonged listing times.
Tenant demand is limited in ZIP 97325. The total population stands at 7,252, with only 10.5% being renters. This low percentage indicates that there might be fewer potential tenants interested in renting properties, which could make it challenging to find suitable Section 8 participants.
Verdict: ZIP 97325 presents a mixed picture for landlords and small-portfolio investors. While the housing market appears stable, the rent math does not work in favor of those relying on Section 8 vouchers due to the significant gap between FMR and market rents. Additionally, the limited tenant demand, with only 10.5% of the population being renters, further complicates the prospect of finding tenants willing to pay the lower FMR rates. Given these factors, landlords should proceed cautiously and consider the financial implications carefully before investing in this area.
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.