Location: Grant County, OR | Metro: Grant County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $900 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,380 |
| 4 Bedrooms | $1,710 |
| 5 Bedrooms | $1,984 |
| 6 Bedrooms | $2,222 |
| 7 Bedrooms | $2,400 |
| 8 Bedrooms | $2,520 |
U.S. Census Bureau data (2024)
The market in ZIP code 97865 presents a dynamic environment where the Federal Market Rent (FMR) at $970 for fiscal year 2026 exceeds the current market rent of $771, as reported by the Census American Community Survey (ACS). This suggests that the area may be experiencing upward pressure on rents, indicative of demand potentially outpacing supply. The median home value of $311,702 provides context to the overall housing market's valuation, but without historical data, it's challenging to pinpoint whether this represents an increase or decrease over time.
The 14.9% renter share indicates a segment of the population that prefers or requires rental housing. This figure can be seen as a reflection of the area's long-term housing dynamics, where a significant portion of residents might be facing economic constraints or lifestyle preferences that favor renting over buying. Such a persistent renter share often correlates with sustained housing pressures, as renters represent a continuous demand for rental properties. For landlords and small-portfolio investors, this means a steady market for rental units, though it also implies competition among landlords to attract tenants.
The lack of specific data regarding the percentage of price cuts and days on the market (DOM) makes it difficult to assess the immediacy of the supply-demand balance. However, the gap between the FMR and the actual market rent suggests that there could be opportunities for landlords to adjust their pricing strategies to align closer with the FMR without alienating potential tenants. This scenario supports the notion that ZIP 97865 is a market in flux, with underlying forces driving towards higher rental values, likely due to increasing demand or limited supply.
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.