Location: Lake County, OR | Metro: Lake County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,440 |
| 4 Bedrooms | $1,740 |
| 5 Bedrooms | $2,018 |
| 6 Bedrooms | $2,260 |
| 7 Bedrooms | $2,441 |
| 8 Bedrooms | $2,563 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 97735, as indicated by the Fair Market Rent (FMR) of $1,130 for fiscal year 2026, is characterized by a significant share of renters at 70.9%. This high percentage of renters suggests a dynamic environment where long-term housing pressures are likely to persist. The absence of specific market rent data, price-cut share percentages, days on market (DOM), and median home values indicates that there might be limited transactional activity or data reporting, which could point to either a nascent market or one that is relatively stable and less speculative.
With 70.9% of residents being renters, it's evident that the demand for rental properties is strong. However, without comparative historical data or current market rent figures, it's challenging to definitively state whether supply outpaces demand or vice versa. Nonetheless, the high renter share implies that many residents prefer or are compelled to rent rather than own property, which can create sustained demand for rental units.
The FMR figure of $1,130 provides a benchmark for rental pricing, particularly for those participating in government-assisted housing programs such as Section 8. While this doesn't directly reflect the current market rent, it gives an idea of the affordability threshold for subsidized housing in the area. Landlords and small-portfolio investors should consider this figure when setting rents for properties that might attract tenants eligible for such assistance programs.
The dynamics of a market with a high renter share often mean that rental properties are key assets. Investors looking to capitalize on these trends should focus on providing quality, affordable housing options that meet the needs of the local population. Additionally, understanding the local economy, employment opportunities, and demographic shifts can offer insights into the underlying factors driving the rental market.
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.