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 |
U.S. Census Bureau data (2024)
The ZIP code 97461, located within the Eugene-Springfield, OR MSA, has several distinct characteristics when compared to typical ZIP codes within the same metro area. With a Fair Market Rent (FMR) of $1400 for fiscal year 2024, it falls below the average market rents of other ZIPs in the region where such data is available. However, the market rent for 97461 is currently listed as N/A, which means we do not have a direct comparison for this metric.
The median home value in 97461 stands at $481,174. This figure is higher than the average home values in many of the less affluent areas of Eugene-Springfield but still below those in the most expensive neighborhoods. The renter share in 97461 is 8.3%, which is lower than the average renter share found in some of the urban core ZIPs of the MSA. This suggests that 97461 leans towards being a predominantly owner-occupied area.
Given the FMR of $1400 and the median home value of $481,174, 97461 can be classified as a mid-tier neighborhood within the Eugene-Springfield, OR MSA. It is neither the least nor the most expensive area, offering landlords a moderate level of rental income potential relative to the investment cost.
The lack of market rent data and the relatively low renter share indicate that this ZIP might not be a primary target for Section 8 housing programs. Typically, a high renter share coupled with below-average home values would signal a sweet spot for Section 8 investments, but this is not the case here. Instead, 97461 appears to be a stable, middle-ground market with modest opportunities for landlords seeking to balance risk and reward.
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.