Location: Umatilla County, OR | Metro: Umatilla County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $800 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,150 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,880 |
| 5 Bedrooms | $2,181 |
| 6 Bedrooms | $2,443 |
| 7 Bedrooms | $2,638 |
| 8 Bedrooms | $2,770 |
U.S. Census Bureau data (2024)
The Section 8 housing market in ZIP code 97835, located in Umatilla County, Oregon, presents a clear opportunity for cashflow generation for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro area, set at $1,200 for fiscal year 2026, significantly exceeds the current market rent of $809, based on Census American Community Survey (ACS) data. This gap means that voucher tenants can cashflow comfortably at the HUD FMR, allowing landlords to earn a substantial profit without relying on premium units.
Given the median home value is not available, it's challenging to derive a precise rent-to-price ratio. However, the higher FMR compared to the market rent suggests that rental properties are undervalued relative to their potential income, making them attractive investments for those seeking steady cashflow.
The lack of data on the median Days on Market (DOM) and the percentage of price cuts indicates stable rent-versus-buy dynamics. This stability supports the investment strategy by ensuring consistent demand for rental properties and minimizing the risk of prolonged vacancies or the need for significant price adjustments.
In conclusion, the strongest angle for investors in ZIP 97835 is the potential for high cashflow due to the disparity between HUD FMR and market rents, making it an ideal location for generating positive returns on rental investments.
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.