Section 8 Fair Market Rent (FMR) for ZIP 97636 - 2027
Location: Lake County, OR | Metro: Lake County, OR
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $960 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,910 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$58,125
When considering whether to invest in ZIP code 97636 for Section 8 properties, follow these decision points:
- Does FMR $1,460 (metro FY 2026) clear debt service on a property?
- Yes: If the Fair Market Rent (FMR) of $1,460 is sufficient to cover the total debt service of your property, including mortgage payments, taxes, insurance, and maintenance costs, then you can proceed to the next question. This ensures that you will not incur financial losses.
- No: If the FMR does not cover the total debt service, purchasing in this area is not advisable for a Section 8 investment. The rental income would be insufficient to maintain the property and meet financial obligations.
- Is market rent $506 (Census ACS) above, at, or below FMR?
- Above: If the market rent exceeds the FMR, this indicates a potential opportunity for higher returns on investment. However, it also suggests that the property might not be fully occupied by Section 8 tenants due to higher rates.
- At: If the market rent equals the FMR, the property will likely attract Section 8 tenants without leaving excess capacity. This scenario provides a balanced approach to investment.
- Below: If the market rent is lower than the FMR, it could mean that the property will be underpriced compared to the local rental market. Landlords should consider if they are willing to accept a lower market rate or if they plan to adjust their pricing to align with the FMR.
- Are 54.4% renters + N/A-day DOM enough demand?
- Yes: With 54.4% of the population being renters, there is significant demand for rental properties. Additionally, the number of days on market (DOM) being N/A suggests that either the data is incomplete or that properties are selling quickly, indicating strong demand.
- No: If the percentage of renters is too low or the DOM is excessively high, this signals weak demand. In such a case, even if the FMR covers debt service, the investment might not be profitable due to low occupancy rates.
- It Depends: If the DOM data is missing or unreliable, landlords must evaluate other factors such as vacancy rates, economic conditions, and competition in the area. A thorough understanding of the local rental market is necessary to make an informed decision.
The final decision to purchase a property in ZIP 97636 for Section 8 purposes hinges on the interplay between these factors. Ensure that the FMR clears debt service, assess where market rents stand relative to FMR, and evaluate the strength of rental demand. If all points align favorably, then the answer is yes; otherwise, it is no or it depends based on additional analysis.
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.