Location: Grant County, OR | Metro: Grant County, OR
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $760 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,490 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $195,243 | 0.56% | F |
| 3BR | $1,490 | $263,000 | 0.57% | F |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 97869 in Prairie City, OR, highlights several potential issues that landlords should be aware of when considering Section 8 properties. Tenant turnover is a significant concern, with the market rent at $921 being notably lower than the Fair Market Rent (FMR) of $1,210 for the metro area. This discrepancy can lead to higher turnover rates as tenants might seek more affordable housing options.
Vacancy exposure is another critical factor, though data on days on market (DOM) is currently unavailable. In areas where DOM is typically high, landlords face a greater risk of extended vacancies, which can impact cash flow and profitability. However, the absence of DOM data makes it difficult to assess this risk accurately for ZIP 97869.
The deferred-maintenance exposure is also substantial, considering the typical home value of $226,779 and the median income of $56,875. These figures suggest that residents might struggle to maintain their homes adequately, potentially leading to increased maintenance costs for landlords. The financial strain on tenants could also result in delayed payments or other compliance issues.
Despite these risks, the high renter share of 15.3% in Prairie City indicates a robust demand for rental properties, including those participating in the Section 8 program. A higher percentage of renters generally translates into more competition for vouchers, which can stabilize occupancy rates and reduce the risk of vacancies.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 97869 is moderate. While there are notable challenges such as tenant turnover and deferred maintenance, the high renter density offers some mitigation against vacancy risks.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.