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 |
|---|---|---|---|---|
| 3BR | $2,170 | $656,325 | 0.33% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 97489 in fiscal year 2024 is set at $1,480. This figure represents the yield potential for landlords participating in the Section 8 program. However, the median home value of $575,532 suggests a relatively expensive market, which might indicate a lower proportion of affordable housing units. This juxtaposition implies that while there is a decent rental income, the market may not have a high volume of properties suitable for low-income rental programs.
In terms of stability, the percentage of renters at 7.2% is quite low, suggesting a primarily owner-occupied community. A lower renter population can reduce the overall demand for rental properties, including those under Section 8. The median household income in ZIP 97489 is $68,295, which is slightly below the county median but still relatively stable. This income level indicates a moderate economic base, providing some assurance against sudden fluctuations in rental demand.
ZIP 97489 does not present a high-yield/low-stability market typical of flip-style investment strategies. Instead, it leans towards a steady cash flow zone, given the moderate rental income and stable income levels. The low percentage of renters suggests limited opportunities for rapid turnover and flipping of properties into rental units. Therefore, for small-portfolio investors and landlords, ZIP 97489 is best suited for long-term, stable investments rather than speculative, high-yield ventures.
To summarize, ZIP 97489 is characterized by a moderate FMR of $1,480, a low renter population at 7.2%, and a stable median household income of $68,295. These factors suggest that this area is most appropriate for steady cash flow investments rather than high-risk, high-reward strategies.
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.