Location: Lincoln County, OR | Metro: Lincoln County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,020 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,240 |
| 5 Bedrooms | $2,598 |
| 6 Bedrooms | $2,910 |
| 7 Bedrooms | $3,143 |
| 8 Bedrooms | $3,300 |
U.S. Census Bureau data (2024)
The ZIP code 97343 presents a dynamic rental market influenced by various factors. The Fair Market Rent (FMR) for the area stands at $1,330, as set by HUD for metro FY 2026. This figure reflects the federal benchmark for determining payment standards under the Section 8 Housing Choice Voucher program. However, the actual market rent, according to Census ACS data, is significantly lower at $959. This discrepancy suggests that the rental market in 97343 is currently below the federal standard, indicating potential room for growth.
The median home value in the area is $449,846, which is a substantial investment for homeowners. While the percentage of price cut shares and days on market (DOM) are not available, the current market rent being lower than the FMR implies that there might be an oversupply of rental units relative to demand. Landlords and small-portfolio investors should consider this when evaluating the potential for rental income versus the cost of maintaining properties.
A key metric to consider is the renter share, which is 28.9%. This percentage indicates that nearly a third of households in 97343 are renters. High renter share can signal long-term housing pressure, as it suggests a significant portion of the population may struggle to afford homeownership. This pressure can drive up rents over time, especially if economic conditions improve or if there is an influx of new residents who prefer renting due to lifestyle choices or financial constraints.
In conclusion, while specific historical data points are unavailable, the current snapshot of the market in ZIP 97343 reveals a rental environment that is somewhat stable but potentially under pressure due to the high renter share. Investors should monitor trends closely and adjust their strategies accordingly to capitalize on the dynamics of this evolving market.
Data Sources: FMR data from HUD (2027). 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.