Location: Eugene-Springfield, OR | Metro: Eugene-Springfield, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,160 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
13.4% of residents in ZIP 97451 are renters, indicating a moderate demand for rental properties in the area. Despite the lack of specific data on market rent and median home value, the Federal Market Rent (FMR) for the zip code stands at $1380 for fiscal year 2024, which serves as a benchmark for landlords and investors. $69,028 is the median income in the area, suggesting that the local population has a reasonable financial capacity to afford housing costs. Although there is no data available on the days on market (DOM) or the percentage of price-cut shares, these figures would be crucial for understanding how quickly properties are being rented out and if there's any need to adjust pricing strategies. The absence of such data points to a potentially stable market where adjustments are minimal. Given the moderate renter share and the clear FMR figure, landlords and small-portfolio investors should focus on maintaining property quality and ensuring rents are aligned with the $1380 FMR to attract tenants. The median income supports the viability of renting at or below the FMR without significant financial strain on the tenant base. In conclusion, ZIP 97451 presents a balanced opportunity for Section 8 participation, with a straightforward FMR target and a financially capable renter demographic.
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.