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 | $1,740 |
| 1 Bedroom | $1,770 |
| 2 Bedrooms | $2,320 |
| 3 Bedrooms | $3,210 |
| 4 Bedrooms | $3,880 |
| 5 Bedrooms | $4,501 |
| 6 Bedrooms | $5,041 |
| 7 Bedrooms | $5,444 |
| 8 Bedrooms | $5,716 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,210 | $612,802 | 0.52% | F |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 97438 presents a unique set of dynamics that both landlords and small-portfolio investors should consider when making investment decisions. The median home value stands at $547,335, indicating a moderate price point that is neither excessively high nor low. This figure suggests a balanced market where homeownership remains accessible but also reflects a certain level of economic stability.
The fact that the percentage of listings reduced is not available points to a market that is currently stable, without significant downward pressure on property values. Similarly, the absence of a specific median days on market (DOM) suggests that properties are selling within a reasonable timeframe, further reinforcing the idea of a steady market.
On the rental side, the Fair Market Rent (FMR) for ZIP 97438 is projected at $1,350 for fiscal year 2024, while the current market rate is $2,257 according to the Census ACS. This discrepancy highlights a strong demand for rental properties in the area, which can be attributed to factors such as affordability and job market conditions. Landlords and investors can leverage this gap by offering competitive rents that still allow for a decent profit margin.
For long-term investors, the setup in ZIP 97438 implies a realistic appreciation thesis. The combination of a moderate median home value and robust rental demand indicates that the area is likely to maintain its value and potentially see gradual increases. This stability is crucial for those looking to hold onto their investments for an extended period, as it reduces the risk of sudden devaluations and ensures a steady return on investment.
Moreover, the strong rental market signals that there will be consistent opportunities to generate income through leasing properties, even if the capital appreciation is modest. This dual-income strategy—capital gains and rental income—can be particularly attractive for investors aiming to diversify their earnings.
In summary, the current data points towards a resilient real estate market in ZIP 97438. The median home value, stable listing reductions, and competitive rental rates all suggest that investors can expect a reliable environment for generating returns over the next 12-24 months. While the appreciation might not be explosive, the steady demand and value retention provide a solid foundation for long-term investment strategies.
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.