Location: Klamath County, OR | Metro: Klamath County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,180 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,980 |
| 5 Bedrooms | $2,297 |
| 6 Bedrooms | $2,573 |
| 7 Bedrooms | $2,779 |
| 8 Bedrooms | $2,918 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 97634, as set by the U.S. Department of Housing and Urban Development for metro fiscal year 2026, is $1,310. This figure represents the payment standard for landlords participating in the Section 8 housing program, not the rent you can charge tenants directly. It's important to note that there isn't specific local median rent data available for ZIP 97634, but we can still make informed decisions based on the FMR.
The 3.1% renter share indicates that a significant portion of the population in this area is looking for rental housing. This suggests a steady demand for rentals, which is beneficial for landlords. However, it also implies that competition among landlords for tenants might be high, so ensuring your property meets the necessary standards for the Section 8 program will be crucial.
When considering the acquisition cost of a property in ZIP 97634, the median home value is $311,327. This means that if you're planning to purchase a property specifically for Section 8 rentals, you should expect to spend around this amount. Keep in mind that the FMR of $1,310 is the maximum amount that the government will pay towards the tenant's rent, so your actual monthly rental income could be less if you charge more than the tenant's portion of the rent.
Before making a final decision to enter the Section 8 market in ZIP 97634, verify that your property complies with HUD's Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Compliance with HQS is mandatory for all Section 8 properties and failing to meet these standards can result in penalties or disqualification from the program.
In summary, the FMR of $1,310 sets the payment ceiling for Section 8 participants in ZIP 97634, while the median home value of $311,327 gives an indication of the typical acquisition cost. With a 3.1% renter share, there is a notable demand for rental properties, making Section 8 a viable option for landlords and small-portfolio investors. Ensure your property meets HUD's HQS to avoid issues and secure your participation in the program.
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.