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 | $1,110 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,130 |
| 4 Bedrooms | $2,570 |
| 5 Bedrooms | $2,981 |
| 6 Bedrooms | $3,339 |
| 7 Bedrooms | $3,606 |
| 8 Bedrooms | $3,786 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,530 | $403,172 | 0.38% | F |
| 3BR | $2,130 | $461,202 | 0.46% | F |
| 4BR | $2,570 | $582,793 | 0.44% | F |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 97426, located in Creswell, Oregon, within the Lane County and Eugene-Springfield metropolitan area, presents a unique opportunity for investors. The Fair Market Rent (FMR) set by HUD for this zip code in fiscal year 2024 is $1,450. In comparison, the average market rent, as reported by the Census Bureau's American Community Survey (ACS), is $1,177. This indicates that voucher tenants can cashflow at FMR levels, providing landlords with a higher potential income compared to the typical market rate.
To further analyze the investment potential, consider the median home value in the area, which stands at $465,800. Using the FMR of $1,450, we can calculate a rent-to-price ratio of approximately 0.31%. This ratio suggests that rental income is relatively low compared to property values, which could make owning a property more attractive than renting for many individuals. However, for investors looking to capitalize on Section 8 vouchers, the higher rent relative to market rates can offset this discrepancy.
The dynamics between renting and buying in the area do not significantly impact the decision-making process for investors, as there is limited data available regarding the median days on market (DOM) and the percentage of homes that have undergone price reductions. With a median DOM marked as N/A and only 0.2% of homes experiencing price cuts, it's clear that the local real estate market is stable, but specific details are lacking.
The strongest angle for investors in this market is likely cashflow. Given that voucher tenants can pay above the average market rent, landlords can expect steady, reliable income without the need to rely solely on premium units to achieve positive cashflow. This makes Section 8 investments in ZIP 97426 a solid choice for those seeking consistent returns.
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.