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 |
U.S. Census Bureau data (2024)
3.1% of the population in ZIP 97490 are renters, indicating a modest demand for rental properties. Despite this, landlords should be aware that the Fair Market Rent (FMR) for Section 8 housing in the area is set at $1400 for the fiscal year 2024. This figure represents the maximum amount that the program will pay for a rental unit, which is crucial for setting realistic expectations for rental income. The median income of $109,375 suggests that residents have the financial capacity to potentially afford higher rents, but the actual impact on Section 8 rates is limited by the program's guidelines. Given the lack of specific data on market rent and median home value, it's prudent to rely on the FMR as a benchmark for pricing. Additionally, without detailed information on days on market (DOM) and the percentage of price-cut share, it's difficult to assess the competitive landscape and the urgency of rental listings. However, the combination of a stable renter share and a well-defined FMR provides a solid foundation for investment decisions. Landlords in ZIP 97490 can expect consistent Section 8 payments, making the area suitable for those seeking reliable, government-backed rental income. For small-portfolio investors, this ZIP code offers a predictable financial environment, though they should remain vigilant about the broader economic conditions that could affect rental demand and income levels.
Verdict: ZIP 97490 is a stable investment for Section 8 landlords and small-portfolio investors, with predictable payments at $1400 FMR.
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.