Location: Gilliam County, OR | Metro: Gilliam County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 97812, located in Gilliam County, Oregon, reveals a clear opportunity for those willing to invest in this area. The HUD Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,160, while the market rent based on Census ACS data stands at $1,318. This means that landlords accepting Section 8 vouchers will experience marginal cash flow on average units, as the FMR is below the current market rent but not significantly so.
To derive the rent-to-price ratio, we use the median home value of $286,492. Dividing the HUD FMR by the median home value yields a ratio of approximately 0.4%, which indicates that rental income alone would not be sufficient to cover the mortgage payments on an average-priced home. However, this ratio also suggests that the housing market in ZIP 97812 is relatively stable, as it does not show signs of overheating where rents would be much higher relative to home values.
Note that the median Days on Market (DOM) and the percentage of homes that have experienced price cuts are not available. Nonetheless, the rent-to-price ratio provides insight into the broader rent-versus-buy dynamics, suggesting that buying a home in this area might not be as attractive as renting for potential tenants due to the high cost of homeownership compared to rental rates.
The strongest investor angle in ZIP 97812 is likely to be stability. With a steady demand for rental properties and a reasonable gap between the HUD FMR and market rent, investors can expect consistent cash flow without the volatility often seen in more competitive markets. Additionally, the low rent-to-price ratio implies that the local housing market is unlikely to experience rapid changes in either direction, providing a safe haven for those seeking long-term, reliable returns.
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.