Location: Eugene-Springfield, OR | Metro: Eugene-Springfield, 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 | $1,180 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,200 | $359,293 | 0.33% | F |
| 2BR | $1,570 | $353,286 | 0.44% | F |
| 3BR | $2,170 | $429,466 | 0.51% | F |
| 4BR | $2,620 | $525,414 | 0.5% | F |
| 5BR | $3,039 | $563,652 | 0.54% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 97478, Springfield, OR, presents a nuanced scenario for both landlords and small-portfolio investors. The median home value stands at $430,125, indicating a stable housing market that has not seen significant fluctuations recently. This stability is further supported by the fact that only 0.2% of listings have reduced their prices, suggesting that sellers are confident in their asking prices and are holding out for fair market values.
The median days on market (DOM) of 22 days points to an efficient market where homes are selling quickly. This rapid turnover can be interpreted as a sign of strong buyer demand, which in turn supports the idea that there is pricing power for sellers in the near future. However, it's important to note that this does not necessarily imply a continuous upward trend in home values but rather suggests that the current price levels are sustainable and likely to hold steady over the next 12-24 months.
On the rental side, the Federal Market Rent (FMR) for ZIP 97478 in fiscal year 2024 is projected to be $1,440. In contrast, the current market rent, as measured by ZORI, stands at $1,766. This gap between government estimates and actual market conditions indicates that landlords currently have a pricing advantage. As long as the local economy remains robust and job growth continues, this rental pricing power is likely to persist.
For long-term investors, the appreciation thesis in Springfield, OR, is realistic but modest. Given the stable median home value and quick sales pace, it is reasonable to expect a gradual increase in property values, driven by inflation and economic growth. However, the appreciation rate will likely remain within a narrow range, reflecting the balanced nature of the market. The key to success for long-hold investors lies in maintaining quality properties and keeping rents competitive yet profitable.
In summary, the data suggests a market that is stable and slightly bullish for sellers and landlords. Pricing power exists due to the quick sales pace and the gap between FMR and actual market rents. Long-term investors should anticipate moderate appreciation rates and focus on operational efficiency and quality management to ensure profitability.
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.