Location: Grant County, OR | Metro: Grant County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The ZIP code 97820 is situated in a rural area of Oregon, characterized by a small community of 1,568 residents. This neighborhood is predominantly owner-occupied, with only 14.5% of the population being renters, indicating a low demand for rental properties. The median household income here stands at $67,115, which suggests a middle-class community capable of supporting modest economic activities. The median home value in this area is $305,948, reflecting a stable housing market.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $990. However, the actual market rent as per the Census ACS data is lower, at $804. This discrepancy between the FMR and the market rent indicates an opportunity for landlords participating in the Section 8 program, as they can potentially charge closer to the FMR rate while still being competitive in the local market.
The low percentage of renters and the modest income levels suggest that this ZIP code might be more suitable for a hands-off voucher operator rather than a hands-on value-add buyer. The limited number of rental units means that there is less room for significant investment or renovation projects aimed at increasing property values or rents. Instead, landlords who can manage properties efficiently with minimal intervention and focus on maintaining a steady cash flow will find this environment favorable. Given the economic indicators, the potential for high returns through aggressive management strategies is constrained, making conservative, hands-off management the more prudent approach.
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.