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 |
The Section 8 market analysis for ZIP code 97475 in Eugene-Springfield, Oregon, reveals that landlords can expect a moderate cashflow scenario when accepting vouchers at the HUD Fair Market Rent (FMR) rate of $1400 for fiscal year 2024. This figure is set by HUD to ensure affordable housing options but does not necessarily reflect the local rental market conditions.
Despite the lack of specific market rent data for ZIP 97475, it's important to note that the FMR rate of $1400 generally allows for marginal cashflow in areas where rents are slightly higher. Landlords might find that they can achieve positive cashflow with some efficiency in property management or by offering premium units that justify a slight increase over the FMR rate.
The median home value in ZIP 97475 is not available, which makes deriving an exact rent-to-price ratio challenging. However, given the typical relationship between home values and rental rates in similar markets, we can infer that the rent-to-price ratio would likely support the idea that renting is a viable option for many residents, especially those relying on housing vouchers.
In terms of days on market (DOM) and price-cut shares, these metrics are also not provided. Nonetheless, these factors are crucial in understanding the dynamics between buying and renting. A lower DOM and a smaller percentage of price cuts indicate a strong seller's market, which could influence rental demand positively.
The strongest angle for investors in ZIP 97475 is stability. With the consistent demand for affordable housing, particularly among voucher holders, the market offers a reliable tenant base and predictable income streams. While appreciation and cashflow are secondary considerations due to the fixed nature of voucher payments, the stability provided by a steady influx of qualified tenants makes this area attractive for long-term investment.
Data Sources: FMR data from HUD (2027).
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.