Location: Malheur County, OR | Metro: Baker County, OR
| Unit Size | Monthly FMR |
|---|---|
| Studio | $720 |
| 1 Bedroom | $900 |
| 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 analysis of ZIP code 97907 reveals a mixed picture for landlords and small-portfolio investors.
The rent math does not favor landlords. The Fair Market Rent (FMR) set at $970 for the metro area for fiscal year 2026 contrasts sharply with the actual market rent of $681, as reported by the Census Bureau's American Community Survey (ACS). This discrepancy means that landlords would need to significantly reduce their rents to align with the market, potentially eroding profit margins.
Acquisition in this area is moderately affordable. With a median home value of $189,703, potential investors can acquire properties at a reasonable cost. However, the lack of data on days on market (DOM) and the percentage of homes needing price cuts suggests that the local housing market might be less active or transparent, which could complicate the process of buying properties.
Tenant demand is present but limited by the size of the population. With 821 residents in the area and 29.2% of them being renters, there is a pool of potential tenants. Yet, the relatively small population base implies that competition among rental properties could be fierce, affecting occupancy rates.
In summary, while the acquisition cost of properties in ZIP 97907 is within a manageable range, the mismatch between FMR and actual market rents poses a challenge. The presence of tenant demand is encouraging, but it must be weighed against the potential difficulties in achieving desired rental yields due to the low market rent and the competitive nature of the small rental market. Investors should proceed with caution, carefully considering these factors before committing to investments in this area.
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.