Section 8 Fair Market Rent (FMR) for ZIP 97480 - 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

295

Median Household Income

$67,045

Housing Units

157

Renter Percentage

31.7%

Occupancy Rate

76.4%

Renter Occupied

The ZIP code 97480, located in Oregon, encompasses a suburban area known for its quiet neighborhoods and proximity to natural amenities. This region offers a mix of housing options suitable for both homeowners and renters, making it an interesting market for real estate investors.

Fair Market Rent (FMR): The FMR for ZIP 97480 in fiscal year 2024 is set at $1340, indicating a robust rental market that supports higher rents compared to the average market rent.
Market Rent: According to Census ACS data, the average market rent in this ZIP code is $941, suggesting that properties priced above this figure could attract tenants willing to pay closer to the FMR.
Median Home Value: The median home value stands at $313,005, reflecting a middle-class community where property values are stable and within reach for many potential buyers.
Renter Share: With 31.7% of residents being renters, there is a significant portion of the population looking for affordable housing options, which can be met through Section 8 vouchers.
Median Income: The median income for residents is $67,045, which aligns well with the average market rent, ensuring that most residents can afford their housing costs without relying solely on subsidies.

In summary, ZIP 97480 presents a balanced market with a notable disparity between the Fair Market Rent and the average market rent. This gap suggests opportunities for landlords and small-portfolio investors who can offer rentals slightly above the market average but still within the FMR threshold. The presence of a substantial renter population and stable median home values indicate a resilient local economy capable of supporting real estate investments. However, the relatively low median income compared to the FMR highlights the need for careful pricing and tenant selection to ensure profitability while remaining accessible to voucher holders.

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.