Location: Corvallis, OR | Metro: Corvallis, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,490 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,580 |
| 4 Bedrooms | $3,110 |
| 5 Bedrooms | $3,608 |
| 6 Bedrooms | $4,041 |
| 7 Bedrooms | $4,364 |
| 8 Bedrooms | $4,582 |
The market analysis for Section 8 investors targeting ZIP code 97339, located in Corvallis, Oregon, reveals several key points that can influence investment decisions. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1570. However, the current market rent is not available, which makes it difficult to directly compare the two figures. Despite this lack of data, we can infer some trends based on the existing HUD FMR.
Voucher tenants in ZIP 97339 will generally cashflow at the FMR rate, but this depends heavily on the type of unit being rented. Standard units may see marginal cashflow, whereas premium units, such as those with additional amenities or better locations, are likely to perform better, providing a more substantial positive cashflow. The absence of current market rent data suggests that the housing market might be stable or experiencing minimal fluctuations, allowing investors to rely more on historical trends and government-set rates.
The median home value for ZIP 97339 is also not available, which complicates deriving an exact rent-to-price ratio. However, given the FMR, we can assume that the rental market is competitive, especially considering the typical cost of living in Corvallis. Without specific data on median days on market (DOM) and the percentage of homes that have had their prices cut, it's challenging to provide insights into the rent-versus-buy dynamics. Nonetheless, the fact that the FMR is established indicates a structured rental environment where voucher usage is a viable option for both landlords and tenants.
The strongest investor angle in this scenario is likely stability. Given the reliance on HUD FMR and the potential for steady cashflow, particularly with premium units, investors can expect a reliable income stream without the volatility often seen in fluctuating market rents. This makes ZIP 97339 a good choice for those seeking a predictable return on investment.
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.