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 97864, with a population of 316, has a significant portion of renters at 21.7%. This indicates that while not overwhelmingly renter-heavy, there is still a notable demand for rental properties. The median household income in this area is $39,202, which provides a basis for assessing the affordability of housing.
The typical market rent of $725 represents approximately 18.5% of the median household income. This percentage suggests that the average renter in 97864 can reasonably afford the current market rents without being overly burdened. However, comparing the market rent to the Fair Market Rent (FMR) set at $1,130 for FY 2026, it becomes evident that the actual rents are significantly below the FMR, indicating a potential gap between what tenants might be able to afford with vouchers and the prevailing market rates.
The lower market rent compared to the FMR implies that landlords in 97864 could see an influx of tenants using Section 8 vouchers, given that these vouchers are often tied to the FMR. Landlords should expect tenants who may have their rent subsidized up to the FMR level, allowing them to live in units that might otherwise be out of reach based on their income.
A landlord in this ZIP code should prepare for a tenant pool that includes a mix of individuals relying on Section 8 vouchers and those paying market rate. The presence of vouchers can stabilize cash flow, but it also means dealing with the administrative requirements associated with the program. Tenants will likely have varying degrees of financial stability, with some potentially benefiting from the additional support provided by the voucher system.
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.