Location: Grants Pass, OR | Metro: Grants Pass, OR MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,410 |
| 3 Bedrooms | $1,950 |
| 4 Bedrooms | $2,130 |
| 5 Bedrooms | $2,471 |
| 6 Bedrooms | $2,768 |
| 7 Bedrooms | $2,989 |
| 8 Bedrooms | $3,138 |
U.S. Census Bureau data (2024)
The median home value in ZIP 97531, Kerby, OR, is $241,000. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,320 per month for a unit. This figure represents the 40th percentile rent for the region.
Despite the FMR being established at $1,320, the actual market rent for the area is currently not available. Based on historical trends and similar areas, it is likely that the market rent is higher than the FMR, suggesting that voucher tenants would typically generate marginal cash flow without premium units. However, precise market rent data is necessary for a definitive analysis.
To derive the rent-to-price ratio, we use the median home value and the FMR. With a median home value of $241,000 and an FMR of $1,320, the annualized rent-to-price ratio is approximately 0.067 or 6.7%. This indicates that rental income is relatively low compared to the property value, which could influence the decision between renting and buying.
The strong investor angle in this market is stability. Given the low median home value and the lack of significant price cuts or long days on market (DOM), the area presents a steady environment where investments can be made with confidence in consistent returns rather than rapid appreciation or high cash flow.
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.