Section 8 Fair Market Rent (FMR) for ZIP 97754 - 2027
Location: Harney County, OR | Metro: Crook County, OR HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $970 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$77,199
To decide whether to invest in ZIP code 97754 (Prineville, OR) using Section 8, follow these steps:
- If the FMR of $1,380 clears debt service on a $425,729 property:
- And market rent ($1,555 ZORI) is above FMR: Yes, consider investing. The higher market rent indicates strong demand, which can support both Section 8 tenants and market-rate tenants.
- And market rent ($1,555 ZORI) is at or near FMR: It depends. While the FMR covers debt service, the proximity of market rent to FMR suggests that relying solely on Section 8 might be challenging. Evaluate additional factors such as vacancy rates and competition.
- And market rent ($1,555 ZORI) is below FMR: No, do not invest. Market rent being below FMR implies weak demand, making it difficult to cover costs even with Section 8 subsidies.
- If the FMR of $1,380 does not clear debt service on a $425,729 property:
- But market rent ($1,555 ZORI) is above FMR: It depends. Although the FMR alone cannot cover the debt service, the higher market rent may indicate opportunities to mix Section 8 tenants with market-rate tenants to balance the portfolio. Conduct further analysis on the local rental market.
- And market rent ($1,555 ZORI) is at or near FMR: No, do not invest. With FMR insufficient to cover debt service and market rent close to FMR, there's little room for financial flexibility.
- And market rent ($1,555 ZORI) is below FMR: No, do not invest. Both the FMR and market rent being low suggest poor financial viability for a property priced at $425,729.
Note that ZIP 97754 has 27.1% of its population as renters, and the days on market (DOM) average 45 days. This level of demand is moderate but could support a well-managed Section 8 portfolio if the FMR and market rents align favorably with your investment criteria.
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.