Location: Eugene-Springfield, OR | Metro: Eugene-Springfield, 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 | $1,210 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,630 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,630 | $438,105 | 0.37% | F |
| 3BR | $2,270 | $604,129 | 0.38% | F |
| 4BR | $2,740 | $700,619 | 0.39% | F |
| 5BR | $3,178 | $784,063 | 0.41% | F |
U.S. Census Bureau data (2024)
Eugene, OR's ZIP code 97403 is a diverse neighborhood with a total population of 15,355 residents. A significant portion, 61.6%, are renters, indicating a strong demand for rental properties. The median household income in this area is $45,417, which is below the national average but still supports a vibrant community. The median home value in ZIP 97403 stands at $603,982, reflecting the overall property values in the region.
The Fair Market Rent (FMR) for ZIP 97403 as of fiscal year 2024 is set at $1,580, while the market rent, as indicated by Zillow's ZORI index, is $2,018. This gap suggests that there is an opportunity for landlords who can manage Section 8 properties effectively, as they can potentially achieve rents above the FMR through value-added strategies such as improving property amenities or location-specific features.
For hands-off operators looking to leverage the Section 8 program, ZIP 97403 offers a stable environment with a high percentage of renters. However, the difference between the FMR and market rent indicates that hands-on investors could benefit more from this area. They have the potential to increase property value and rental income by enhancing the quality and appeal of their properties. Given the economic landscape, a hands-on approach would likely yield better returns compared to a purely passive strategy.
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.