Location: Douglas County, OR | Metro: Eugene-Springfield, OR MSA
| 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 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 97493, located in Douglas County, Oregon, reveals several key insights regarding rental cash flow and property investment potential.
The Fair Market Rent (FMR) as defined by HUD for FY 2024 is set at $1220. However, the lack of available market rent data for ZIP 97493 makes it difficult to compare directly against the FMR. Based on the existing FMR alone, landlords can expect that voucher tenants will generally cover the cost of rent at this level, ensuring a stable cash flow. But without specific market rent data, it's challenging to determine if this cash flow is marginal or robust across all unit types.
The median home value in the area stands at $425,710. Using this figure, we can calculate the rent-to-price ratio, which is an important metric for understanding the relationship between rental income and property values. The rent-to-price ratio for ZIP 97493 can be estimated as follows: with an annual rent of approximately $14,640 ($1220 per month) and a median home value of $425,710, the ratio is roughly 3.4%. This suggests that rental income represents a modest portion of the total property value, indicating that the area might favor homeownership over renting for long-term financial benefits.
The absence of specific data on days-on-market (DOM) and the percentage of price cuts indicates a stable local real estate market. In such conditions, the likelihood of significant fluctuations in housing prices is low, which supports the idea of investing in properties for their stability and potential appreciation rather than high cash flow.
The strongest angle for investors in ZIP 97493 is likely appreciation, given the stable market conditions and the potential for property values to rise over time, especially considering the relatively high median home value and the moderate rent-to-price ratio. This makes the area attractive for those looking to build long-term wealth through real estate investments.
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.