Location: Salem, 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 | $1,130 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,070 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,070 | $437,870 | 0.47% | F |
| 4BR | $2,400 | $550,362 | 0.44% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 97352, located in Marion County, part of the Salem, OR MSA, reveals a favorable environment for those seeking stable returns. The HUD Fair Market Rent (FMR) for ZIP 97352 in fiscal year 2024 is set at $1320, which is significantly higher than the reported market rent of $1160 based on Census ACS data.
This difference means that landlords accepting Section 8 vouchers can expect positive cash flow on most units without requiring premium upgrades. The median home value in the area is $454,167, leading to a rent-to-price ratio of approximately 0.25%. This ratio suggests that rental income represents a modest portion of the property's value, indicating that the market supports both rental and ownership activities.
While the median days on market (DOM) and the percentage of homes that experienced price cuts are not available, the strong FMR compared to the market rent implies that there is little need for price adjustments to attract voucher tenants. The robust FMR also signals that the demand for affordable housing is high, which is a positive indicator for landlords who want to ensure consistent occupancy.
In conclusion, the strongest angle for Section 8 investors in ZIP 97352 is cash flow. With HUD FMR well above the average market rent, landlords can secure steady income while maintaining a competitive edge in the local rental market.
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.