Location: Morrow County, OR | Metro: Gilliam County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,800 |
| 5 Bedrooms | $2,088 |
| 6 Bedrooms | $2,339 |
| 7 Bedrooms | $2,526 |
| 8 Bedrooms | $2,652 |
U.S. Census Bureau data (2024)
The ZIP code 97843, located in Oregon, presents an interesting balance between yield and stability for real estate investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,130, which is notably higher than the market rent of $1,056. This indicates a potential for higher rental yields compared to other areas where market rents might be closer to or lower than FMRs. However, the lack of data on home values suggests that there may be limited opportunities for flipping properties, as the typical price point for homes is not specified.
On the stability axis, the ZIP code shows a moderate level of tenant commitment. With 24.2% of residents being renters, it is clear that there is a significant but not overwhelming proportion of the population relying on rental housing. While there is no data available on the number of days on market (DOM), which would indicate how quickly properties can be rented out, the median household income of $104,435 provides a strong foundation for stable cash flows. This income level suggests that tenants are likely to have the financial means to consistently pay their rent, contributing to a steady and predictable revenue stream for landlords.
In conclusion, ZIP 97843 is best classified as a steady-cashflow zone. The higher FMR compared to market rent supports a decent yield, while the relatively high median income points towards a stable environment where tenants can reliably afford their rent. The moderate percentage of renters indicates a balanced market, neither dominated by long-term homeowners nor transient renters, making it a suitable location for those seeking consistent returns without the risks associated with high turnover or unstable rental markets.
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.