Location: Albany, OR | Metro: Albany, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,210 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,740 |
| 3 Bedrooms | $2,400 |
| 4 Bedrooms | $2,690 |
| 5 Bedrooms | $3,120 |
| 6 Bedrooms | $3,494 |
| 7 Bedrooms | $3,774 |
| 8 Bedrooms | $3,963 |
U.S. Census Bureau data (2024)
The analysis of ZIP 97355 (Lebanon, OR) reveals a market that is moderately positioned between high yield and stability. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,380, which is below the market rent of $1,519. This suggests a potential for higher-than-average rental yields when compared to the median home value of $390,843. However, the market is not entirely high yield due to the relatively low gap between FMR and market rents.
Stability indicators point towards a somewhat balanced environment. With 31.7% of the population being renters, there is a decent pool of potential tenants. The Days on Market (DOM) figure stands at 38 days, indicating that properties are typically occupied quickly once they become available. This is a positive sign for stability, as it reduces the risk of vacancy. Additionally, the average household income of $68,595 supports stable rental payments, assuming that the majority of tenants can afford the rent without significant financial strain.
Given these metrics, ZIP 97355 is best classified as a steady-cashflow zone rather than a high-yield/low-stability market. While the yield is respectable, the stability factors—such as a reasonable percentage of renters and a quick turnaround time for vacant properties—indicate a reliable and predictable cash flow for landlords and small-portfolio investors. This makes the area suitable for those seeking a balance between profit and security in their real estate investments.
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.