Location: Douglas County, 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 | $1,110 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,160 | $294,928 | 0.39% | F |
| 2BR | $1,520 | $329,761 | 0.46% | F |
| 3BR | $2,120 | $407,249 | 0.52% | F |
| 4BR | $2,550 | $481,266 | 0.53% | F |
| 5BR | $2,958 | $540,682 | 0.55% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 97424, which includes Cottage Grove, Oregon, is set at $1,270 for fiscal year 2024. This figure represents the maximum amount the U.S. Department of Housing and Urban Development (HUD) will pay toward rent for a Section 8 voucher holder living in your property. It does not mean you can charge $1,270 for rent; it's simply the reimbursement limit.
In comparison, the local Zillow Observed Rent Index (ZORI) for Cottage Grove is currently at $1,505. This suggests that market rents in your area exceed the FMR, meaning you might have to adjust your expectations if you're relying solely on Section 8 payments.
The renter share in Cottage Grove is 30.4%, indicating a moderate demand for rental properties. This percentage reflects the portion of the population that is renting rather than owning homes, suggesting there is a steady but not overwhelming need for affordable housing.
If you're looking to acquire a new rental property, the median home value in Cottage Grove is approximately $395,833. This is the typical price range you should expect when purchasing a home to convert into a rental unit. Keep in mind that this doesn't account for renovation costs or other expenses associated with preparing a property for Section 8 tenants.
Before committing to a Section 8 rental, it's crucial to verify that your property meets all the necessary inspection criteria. HUD requires that all units participating in the Section 8 program pass a thorough inspection to ensure they meet minimum housing quality standards. Failure to comply could result in non-payment or removal from the program.
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.