Location: Bend-Redmond, OR | Metro: Bend-Redmond, OR HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,240 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,240 |
| 4 Bedrooms | $2,700 |
| 5 Bedrooms | $3,132 |
| 6 Bedrooms | $3,508 |
| 7 Bedrooms | $3,789 |
| 8 Bedrooms | $3,978 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 97712, located in the Bend-Redmond, OR HUD Metro FMR Area, is set at $1620 for fiscal year 2024. However, the market rent in this area is currently unavailable, which makes it challenging to provide a precise comparison. Despite this limitation, we can infer that voucher tenants would likely cashflow at the FMR rate, assuming the market rent does not significantly exceed the FMR. In areas where market rents align closely with or are slightly above the FMR, voucher tenants typically cover their rent without substantial financial strain.
The median home value in ZIP 97712 is also not available at this time. Nevertheless, the lack of specific data on home values does not preclude us from discussing the importance of the rent-to-price ratio. This metric is crucial for understanding the broader real estate market dynamics and how they might influence investment decisions. For instance, if the median home value were known, a low rent-to-price ratio could indicate that rental properties offer better returns relative to purchasing homes in the area.
Additionally, the median Days on Market (DOM) and the percentage of listings that undergo price cuts are not available. These metrics are significant when assessing the rent-versus-buy dynamics. A high DOM or a substantial percentage of price cuts could suggest that the buying market is less active or competitive compared to renting, which might favor investors looking to capitalize on stable rental income.
In conclusion, while specific market rent and home value data are unavailable, the fact that voucher tenants can cashflow at the FMR rate of $1620 indicates that this area is suitable for investors seeking steady, positive cashflow. The strongest investor angle in ZIP 97712 appears to be cashflow, given the alignment between the FMR and the potential for consistent rental income.
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.