Location: Eugene-Springfield, OR | Metro: Eugene-Springfield, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,590 |
| 5 Bedrooms | $3,004 |
| 6 Bedrooms | $3,364 |
| 7 Bedrooms | $3,633 |
| 8 Bedrooms | $3,815 |
The ZIP code 97440 in Unknown, OR, presents an interesting case for landlords and small-portfolio investors considering Section 8 tenants. The lack of specific population and rental percentage data makes it challenging to definitively categorize the area as either renter-heavy or homeowner-dominated. However, the median household income being listed as 'N/A' suggests that there might be a significant portion of residents who rely on financial assistance, including housing vouchers.
Without concrete figures for market rent, it's difficult to provide a precise analysis of how much of the local income is typically consumed by rent. Nonetheless, when comparing to the Fair Market Rent (FMR) set at $1,400 for fiscal year 2024, it's evident that this represents a benchmark for affordability. If the actual market rents in 97440 are below this figure, it could indicate a more affordable living environment for voucher holders.
The presence of Section 8 vouchers in an area like 97440 can be indicative of a community that supports lower-income families and individuals. Landlords here should prepare to engage with tenants who have their rent subsidized, ensuring they understand the requirements and regulations associated with accepting Section 8 tenants. This includes familiarizing themselves with the Housing Choice Voucher program and the process of working with the local Public Housing Agency (PHA).
Given the scarcity of detailed economic data for ZIP 97440, it's advisable for landlords to seek out local real estate agents or PHA representatives for more specific insights into the tenant pool and market conditions. They will likely encounter tenants who are seeking stable, affordable housing options and are committed to maintaining their homes through the stipulations of the voucher program.
Data Sources: FMR data from HUD (2027).
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.