Location: Union County, OR | Metro: Union County, OR
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $950 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,150 | $214,463 | 0.54% | F |
| 3BR | $1,590 | $282,252 | 0.56% | F |
U.S. Census Bureau data (2024)
The ZIP code 97827, located in Elgin, Oregon, within the Union County metro, has a Fair Market Rent (FMR) of $1,250 for fiscal year 2026. This figure contrasts with the market rent of $1,001, indicating that the government's estimated fair rent is higher than what the market currently dictates. The median home value in 97827 is $268,027, which is lower than the average home value in Union County, suggesting that this area might be more affordable for potential buyers.
With a renter share of 24.3%, ZIP 97827 has a slightly higher percentage of renters compared to the typical Union County ZIP codes. This trend often points towards an area being attractive for Section 8 housing due to the combination of a relatively high renter population and lower home values. Such conditions can make it easier for landlords to find tenants who qualify for federal rental assistance programs.
When considering these metrics together, ZIP 97827 appears to be a value pocket within the Union County metro. Its below-average market rent and home value, coupled with a higher-than-average renter share, suggest that it could be particularly appealing for Section 8 participants. Landlords and small-portfolio investors should note the discrepancy between the FMR and the actual market rent, as it may affect their ability to attract Section 8 tenants at the government-set rates.
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.