Location: Lincoln County, OR | Metro: Lincoln County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 97357 for Section 8 purposes, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1,560 cover the debt service on a property priced at $526,443?
No: The FMR of $1,560 does not sufficiently cover the debt service on a property valued at $526,443. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. Given the high property value, it's unlikely that the FMR alone will provide adequate cash flow unless there are significant subsidies or the property has very low operating costs.
Yes: Proceed to the next question. However, based on the provided information, this scenario is unlikely.
2) Is the market rent above, at, or below the FMR of $1,560?
N/A: Since the market rent is not available, you cannot accurately compare it against the FMR. This lack of data makes it difficult to assess whether the rental income would be sufficient to meet the financial needs of the property.
3) Are the current demand levels, with 0.0% of renters and N/A days of Days on Market (DOM), enough to justify an investment?
No: The demand levels are insufficient. With 0.0% of renters, there is no indication of any interest from potential tenants, and the lack of data regarding the DOM suggests either a new or inactive market. This combination indicates a high risk of vacancy and difficulty in finding tenants, even those eligible for Section 8.
It Depends: If you were able to secure additional data on market rents and DOM, you could make a more informed decision. However, the current data points to a challenging environment for securing tenants.
In conclusion, the data provided for ZIP 97357 indicates a negative outlook for purchasing properties for Section 8 investment. The FMR does not cover the debt service on a property valued at $526,443, and there is insufficient demand with 0.0% of renters and no available market rent data. These factors suggest that investing in this area for Section 8 purposes would not be advisable without further investigation into market conditions and potential subsidies.
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.