Location: Union County, OR | Metro: Union County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $920 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
U.S. Census Bureau data (2024)
The rent math in ZIP 97876 does not favor landlords. The Fair Market Rent (FMR) for the area, set at $1,490 for fiscal year 2026, falls below the market rent of $1,660 according to the latest Census ACS data. This discrepancy means that landlords who aim to charge the FMR will be undercharging by $170 per month, reducing their income potential.
Acquisition costs in ZIP 97876 are relatively high, with a median home value of $564,525. Unfortunately, the data on days on market (DOM) and the percentage of homes that required a price cut are not available, which makes it challenging to assess the current market conditions fully. However, given the median home value, it's clear that purchasing properties in this area requires a significant investment, potentially limiting opportunities for small-portfolio investors.
Tenant demand in ZIP 97876 is low. With a total population of 995, only 9.9% of residents are renters. This indicates a limited pool of potential tenants, making it difficult to find occupants for rental properties. Landlords would need to ensure they can attract and retain tenants given the small number of people looking for rental housing.
Overall, ZIP 97876 presents a challenging environment for landlords and small-portfolio investors. The rent math is unfavorable due to the gap between FMR and market rent, acquisitions are costly with no recent market trend data available, and tenant demand is minimal. These factors suggest that investing in this area may not be financially prudent unless other unique advantages are present.
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.