Section 8 Fair Market Rent (FMR) for ZIP 97707 - 2027

Location: Bend-Redmond, OR | Metro: Bend-Redmond, OR HUD Metro FMR Area

Investment Score for ZIP 97707

Monthly Rent (2BR)

$2,350

Median Price (2BR)

$545,258

1% Rule

0.43%

Annual Yield

5.17%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,780
1 Bedroom	$1,800
2 Bedrooms	$2,350
3 Bedrooms	$3,250
4 Bedrooms	$3,930
5 Bedrooms	$4,559
6 Bedrooms	$5,106
7 Bedrooms	$5,514
8 Bedrooms	$5,790

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$2,350	$545,258	0.43%	F
3BR	$3,250	$749,010	0.43%	F
4BR	$3,930	$1,032,472	0.38%	F
5BR	$4,559	$1,484,728	0.31%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

6,661

Median Household Income

$85,272

Housing Units

8,186

Renter Percentage

11.1%

Occupancy Rate

37.7%

Renter Occupied

342

The area of ZIP 97707, located in Bend, Oregon, offers a unique blend of natural beauty and urban amenities that attract both residents and visitors. Known for its outdoor recreational opportunities and growing economy, the region presents a stable environment for real estate investments. However, the market dynamics are influenced by various factors including rental prices, home values, and the economic status of its inhabitants.

The Fair Market Rent (FMR) for ZIP 97707 is set at $1550 for the fiscal year 2024, providing a benchmark for affordable housing standards.
The average market rent for properties in ZIP 97707 stands at $2,204, according to the latest Census American Community Survey (ACS) data, indicating a higher demand for rental properties than the FMR suggests.
The median home value in the area is $739,489, reflecting a significant investment in homeownership.
Renters make up 11.1% of the population in ZIP 97707, suggesting a relatively low proportion of tenants compared to homeowners.
The median income in the region is $85,272, which supports a robust local economy and indicates the financial stability of the residents.

Investors looking to enter the ZIP 97707 market should consider the gap between the Fair Market Rent and the actual market rent as an opportunity for rental properties. The median home value shows that there is substantial equity in the housing market, but with only 11.1% of the population renting, the focus should be on attracting those who prefer or need to rent rather than buy. Given the median income, the area can support higher rents, making it potentially lucrative for those willing to invest in quality rental units. However, competition may be high due to the attractiveness of the area, so strategic placement and property management will be key to success.

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.