Section 8 Fair Market Rent (FMR) for ZIP 97621 - 2027

Location: Klamath County, OR | Metro: Klamath County, OR

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$780
1 Bedroom	$870
2 Bedrooms	$1,130
3 Bedrooms	$1,570
4 Bedrooms	$1,890
5 Bedrooms	$2,192
6 Bedrooms	$2,455
7 Bedrooms	$2,651
8 Bedrooms	$2,784

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

257

Median Household Income

$23,786

Housing Units

164

Renter Percentage

15.1%

Occupancy Rate

89.0%

Renter Occupied

To determine if you should buy in ZIP code 97621 for Section 8 purposes, follow this decision tree:

1) Does FMR $1,250 (metro FY 2026) clear debt service on a $280,170 property?

No: The Fair Market Rent (FMR) of $1,250 is insufficient to cover the debt service on a property valued at $280,170. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. Given that the FMR does not exceed these costs, purchasing in this area would likely result in financial losses.

2) Is market rent N/A (N/A) above, at, or below FMR?

Market Rent Data Not Available: Without specific market rent data, it's impossible to compare it against the FMR of $1,250. This uncertainty makes it difficult to assess whether renting to non-Section 8 tenants would be more profitable. It's crucial to gather accurate local rental market data before making any investment decisions.

3) Are 15.1% renters + N/A-day DOM enough demand?

It Depends: With 15.1% of residents being renters, there is some demand for rental properties in ZIP 97621. However, the average days on market (DOM) for rental listings is not available, which means we can't evaluate how quickly properties are rented out. If the DOM is low, indicating quick leasing, then the 15.1% rental rate might be sufficient. Conversely, if DOM is high, it suggests a slower rental market and potentially lower demand.

In conclusion, the decision to invest in ZIP 97621 for Section 8 purposes hinges on the answers to these gating questions. Insufficient FMR to cover debt service is a significant red flag. Lack of market rent data introduces risk. And while the rental rate shows there is some demand, the absence of DOM data leaves the final assessment uncertain. Landlords and small-portfolio investors must weigh these factors carefully and seek additional local market insights before proceeding.

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.