Location: Wheeler County, OR | Metro: Wheeler County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $780 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,700 |
| 5 Bedrooms | $1,972 |
| 6 Bedrooms | $2,209 |
| 7 Bedrooms | $2,386 |
| 8 Bedrooms | $2,505 |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 97874, located in Wheeler County, Oregon, reveals a rental market that is slightly above the Federal Housing Administration's Fair Market Rent (FMR) levels. The HUD FMR for the area is set at $970 per month for fiscal year 2026, while the Census ACS indicates a market rent of $1,250 per month. This means that voucher tenants will cashflow marginally at the HUD FMR rate, requiring landlords to either accept lower profits or seek out premium units that can command higher rents.
To further understand the investment landscape, consider the median home value in the area, which stands at $376,267. Using this figure, we can derive the rent-to-price ratio, which comes out to be approximately 0.44%. This ratio suggests that the rental market is relatively stable compared to the home value market, indicating that property values are not being driven primarily by rental demand.
Regarding the days on market (DOM) and the percentage of price cuts, these metrics are not available (N/A) for ZIP 97874. However, it's important to note that in markets where rent-versus-buy dynamics play a significant role, these figures can provide valuable insights into how quickly properties sell and whether sellers need to adjust their prices. In the absence of these data points, the primary focus should remain on the rental income potential and the stability of the housing market.
The strongest investor angle in ZIP 97874 is likely to be stability. Given the modest gap between the HUD FMR and market rent, along with the reasonable rent-to-price ratio, investors can expect consistent cash flow and a steady housing market, making it an attractive option for those seeking long-term, low-risk investments.
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.