Location: Grant County, OR | Metro: Grant County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $950 |
| 2 Bedrooms | $1,070 |
| 3 Bedrooms | $1,390 |
| 4 Bedrooms | $1,790 |
| 5 Bedrooms | $2,076 |
| 6 Bedrooms | $2,325 |
| 7 Bedrooms | $2,511 |
| 8 Bedrooms | $2,637 |
U.S. Census Bureau data (2024)
The ZIP code 97856 presents a dynamic rental market that is influenced by the balance between supply and demand. With a Fair Market Rent (FMR) of $1,130 set for metro fiscal year 2026, it's clear that the government recognizes the need for affordable housing options in this area. The current market rent, as reported by the Census ACS, stands at $701, indicating that the actual rents charged are below the FMR, suggesting a potential oversupply of units relative to demand or an indication that the market is somewhat price-sensitive.
The 28.6% renter share highlights a significant portion of the population that relies on rental properties, which can signal ongoing housing pressure. This percentage implies that nearly a third of the residents are renters, pointing towards a steady demand for rental units. For landlords and small-portfolio investors, this means there is a consistent group of tenants looking for homes, but it also underscores the importance of maintaining competitive pricing and quality to attract and retain these renters.
While specific metrics such as the percentage of price-cut share and days on market (DOM) are not available, the gap between the FMR and the current market rent suggests that landlords might face challenges in increasing rents significantly without potentially losing tenants to more affordable options. This dynamic points to a market where maintaining occupancy rates could be more critical than maximizing rental income per unit.
In conclusion, ZIP 97856 offers a rental market that is characterized by a substantial renter base and a current market rent that is lower than the FMR. This indicates a market where supply is likely meeting or exceeding demand, and landlords must focus on providing value to keep their properties occupied. The high renter share also implies a long-term trend of housing pressure, which could lead to continued demand for rental properties despite the current pricing dynamics.
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.