Section 8 Fair Market Rent (FMR) for ZIP 97463 - 2027

Location: Eugene-Springfield, OR | Metro: Eugene-Springfield, OR MSA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,652

Median Household Income

$41,734

Housing Units

1,802

Renter Percentage

29.7%

Occupancy Rate

89.3%

Renter Occupied

478

Housing Authorities Serving ZIP 97463

Housing Authority & Comm Svcs of Lane Co (Eugene, OR) - 3,490 Section 8 vouchers

Oakridge, located in ZIP code 97463, is a small city in Oregon known for its natural beauty and outdoor recreational opportunities. The local economy is largely driven by government services and manufacturing, which influences the housing market dynamics. Here's a concise market analysis based on key metrics:

The Fair Market Rent (FMR) for ZIP 97463 is set at $1220 for fiscal year 2024, indicating the rental price guideline established by the U.S. Department of Housing and Urban Development (HUD).
The actual market rent, as reported by the Census Bureau's American Community Survey (ACS), stands at $996. This figure represents the average rent paid by tenants in the area.
The median home value in Oakridge is $283,967, reflecting the typical price of homes sold in the area.
Renters make up 29.7% of the total population, suggesting a moderate demand for rental properties.
The median household income in the area is $41,734, which can impact the affordability of housing and the willingness of residents to pay higher rents.

The discrepancy between the FMR and the actual market rent suggests potential room for increasing rental prices without significantly impacting tenant retention. Given the median home value and the percentage of renters, there is a balanced market where both homeownership and renting coexist. However, investors should consider the median income when setting rents to ensure affordability and maintain occupancy rates. Overall, Oakridge presents a stable investment opportunity for those interested in the rental market, with potential for modest growth.

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.