Location: Eugene-Springfield, OR | Metro: Corvallis, 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 | $1,350 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,830 |
| 3 Bedrooms | $2,540 |
| 4 Bedrooms | $3,060 |
| 5 Bedrooms | $3,550 |
| 6 Bedrooms | $3,976 |
| 7 Bedrooms | $4,294 |
| 8 Bedrooms | $4,509 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,830 | $437,999 | 0.42% | F |
| 3BR | $2,540 | $580,500 | 0.44% | F |
| 4BR | $3,060 | $704,759 | 0.43% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP code 97456, which covers Monroe, Oregon in Benton County, can be quite straightforward when you break it down. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code for fiscal year 2024 is set at $1290. This figure represents the maximum amount that the housing authority will pay on behalf of the tenant for rent.
Local market rent for a two-bedroom unit in ZIP 97456 is slightly lower at $1231, according to the Census ACS (American Community Survey) data. This indicates that the SAFMR is higher than the average market rent, which could be beneficial for landlords who are participating in the program.
A voucher payment consists of two parts: the tenant's contribution and the housing authority's reimbursement. The tenant is expected to contribute 30% of their adjusted income towards rent. If the tenant's share plus the utility allowance does not cover the SAFMR, the housing authority will make up the difference to ensure the landlord receives the full SAFMR amount.
For example, if a tenant's share is $360 and the utility allowance is $200, the total contribution would be $560. The housing authority would then pay the remaining $730 to reach the SAFMR of $1290. This ensures that landlords receive the full SAFMR regardless of the tenant's income level, provided that the rent requested does not exceed the SAFMR.
In ZIP 97456, the SAFMR is set specifically for this area, meaning it takes into account the unique economic conditions of the region. This targeted approach aims to reflect the actual cost of renting in Monroe, Oregon, rather than using a broader metro or county-level rate.
Given the local market rent is $1231 and the SAFMR is $1290, landlords participating in the Section 8 program for a two-bedroom unit in this ZIP code can expect a slight surplus of $59 per month. This surplus allows landlords to potentially cover maintenance costs, property taxes, and other expenses without dipping into their own pockets.
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.