Section 8 Fair Market Rent (FMR) for ZIP 97449 - 2027
Location: Coos County, OR | Metro: Coos County, OR
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,140 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,110 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$66,000
Housing Authorities Serving ZIP 97449
To determine if you should invest in ZIP 97449 (North Bend, OR) for Section 8 properties, follow these steps:
- If the Fair Market Rent (FMR) of $1,680 can cover the debt service on a property priced at $307,735:
- Yes. The FMR is sufficient to ensure that your rental income meets the financial obligations of owning the property. This means that the monthly rent will be enough to pay for the mortgage, taxes, insurance, and maintenance costs.
- If the market rent of $1,027 is above, at, or below the FMR:
- Above FMR: This indicates strong market conditions where tenants willing to pay more than the FMR exist. However, Section 8 tenants are limited to paying the FMR. Thus, it depends on whether you prefer the stability of guaranteed Section 8 payments or the potential for higher market rents.
- At FMR: The market rent aligns perfectly with the FMR, making it an ideal scenario for Section 8 investment without the risk of leaving money on the table compared to market rates.
- Below FMR: This suggests that market rents are lower than what the government deems fair for Section 8, making it a favorable situation for Section 8 investments as you are likely to receive more than the local market rate.
- If the 14.7% of residents who are renters plus the unknown days on market (DOM) indicate enough demand:
- It depends. While 14.7% of residents being renters shows some demand, the lack of data on DOM makes it challenging to assess how quickly properties are rented out. If you can secure a steady flow of Section 8 tenants, the relatively low percentage of renters might still support a viable investment. However, without knowing DOM, it's hard to gauge the speed at which properties turn over, which is crucial for cash flow planning.
In summary, if the FMR of $1,680 clears the debt service on a $307,735 property, you should proceed. The relationship between the market rent of $1,027 and the FMR guides your decision based on whether you prioritize Section 8 stability or seek higher market rents. Lastly, the demand signal is mixed due to the limited data on DOM, so you must consider other local factors to make a final judgment.
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.