Location: Douglas County, OR | Metro: Douglas County, OR
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 | $820 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,970 |
| 5 Bedrooms | $2,285 |
| 6 Bedrooms | $2,559 |
| 7 Bedrooms | $2,764 |
| 8 Bedrooms | $2,902 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,180 | $241,257 | 0.49% | F |
| 3BR | $1,630 | $342,510 | 0.48% | F |
| 4BR | $1,970 | $370,660 | 0.53% | F |
U.S. Census Bureau data (2024)
ZIP code 97496 encompasses a residential area within Winston, OR, characterized by a modest population size of 7,768 residents. The neighborhood has a relatively low rental rate, with only 24.0% of the households being renters, indicating a primarily owner-occupied community. The median household income in the area stands at $56,071, reflecting a middle-class demographic. Median home values in ZIP 97496 are notably high, at $319,050, suggesting a stable and potentially desirable living environment for homeowners.
From an investment perspective, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,270, which contrasts sharply with the current market rent of $992 according to the Census ACS. This discrepancy presents an opportunity for landlords and small-portfolio investors to leverage the higher FMR rates offered through the Section 8 program, thereby achieving better returns on their investments.
The suitability of ZIP 97496 for hands-off voucher operators is evident given the stable median home values and the presence of a middle-class income bracket. However, the potential for a hands-on value-add buyer is also significant. With a lower proportion of renters and a gap between the FMR and market rent, there's room for improvement in property management practices and renovations to attract tenants willing to pay closer to the FMR rates. This could result in a more competitive position in the local rental market and higher overall profitability for investors.
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.