Section 8 Fair Market Rent (FMR) for ZIP 97733 - 2027

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

Investment Score for ZIP 97733

Monthly Rent (2BR)

$1,130

Median Price (2BR)

$412,176

1% Rule

0.27%

Annual Yield

3.29%

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	$790
1 Bedroom	$880
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

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	$1,130	$412,176	0.27%	F
3BR	$1,570	$503,892	0.31%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

639

Median Household Income

$45,759

Housing Units

1,088

Renter Percentage

12.0%

Occupancy Rate

25.3%

Renter Occupied

The ZIP code 97733, located in Oregon, represents a rural area with a strong focus on residential living. The community is characterized by its modest-sized homes and a significant portion of homeownership, which reflects the local lifestyle and economic conditions.

Fair Market Rent (FMR): The Fair Market Rent for the metro area in fiscal year 2026 is set at $1,250, providing a benchmark for rental pricing.
Rental Prices: Specific market rent figures are currently unavailable, indicating a lack of recent data on rental trends in the area.
Median Home Value: The median home value stands at $417,465, offering insight into the typical investment cost for property in this region.
Renter Share: Only 12.0% of the residents are renters, suggesting a predominantly owner-occupied market.
Days on Market (DOM): Information regarding the average days on market is not available, making it difficult to assess how quickly properties sell.
Median Income: The median income of $45,759 provides context for the financial capabilities of potential tenants or buyers.

The analysis reveals that ZIP 97733 is a homeowner-dominated market with limited data on rental specifics. Given the FMR and median home values, the area presents a stable but modest investment opportunity, especially for those looking to purchase rather than rent out properties. With a lower percentage of renters, the demand for rental units may be less compared to areas with higher renter shares, though the median income suggests a reasonable level of affordability among residents. For landlords and small-portfolio investors, focusing on purchasing homes that can be rented close to the FMR could be a strategic approach, considering the current data points.

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.