Location: Douglas County, OR | Metro: Douglas County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $790 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,600 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The median income in ZIP code 97447 stands at $56,522, reflecting the financial landscape where potential tenants reside. The market rate for rent is currently unavailable, which makes it challenging to assess the direct affordability for households based on income alone. However, we can draw insights from the voucher payment standard set at $1,060 for the fiscal year 2026, providing a benchmark for affordable housing.
Given that 51.6% of the 610 residents are renters, there is a significant demand for rental properties in this area. This high percentage indicates a competitive market for landlords, as many tenants will be looking for suitable housing options. The affordability gap becomes evident when comparing the median income to the expected market rent. While the exact market rent is not specified, the voucher payment standard of $1,060 offers a guideline for what is considered affordable.
In a scenario where the market rent exceeds the voucher amount, the affordability gap widens, putting pressure on both tenants and landlords. Tenants might struggle to find housing that fits their budget without assistance, whereas landlords could face challenges in attracting tenants willing to pay higher rents. This dynamic suggests that landlords should consider the benefits of accepting vouchers as part of their rental strategy.
Takeaway for Landlords: In ZIP 97447, where the median income is $56,522 and the voucher payment standard is $1,060, landlords must weigh the advantages of accepting vouchers against the potential for cash-paying tenants. Accepting vouchers can ensure a steady stream of reliable tenants who can afford the rent, even if the income is lower than the market rate. Conversely, focusing on cash-paying tenants may yield higher rents but also increase vacancy rates due to the limited number of households capable of paying above the voucher standard.
Data Sources: FMR data from HUD (2027). 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.