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Hood River County/Hood River/97031

97031

ZIPSAFMR
Hood River County, OR
Zillow

ZIP Investment Score

55Below average

095130300
BRFMR
Eff. Rent
0 BR$1,380$1,520
1 BR$1,490$1,640
2 BR$1,950$2,100
3 BR$2,700$2,770
4 BR$3,260$2,900
5 BR$3,749Not available
6 BR$4,311Not available
7 BR$4,958Not available
8 BR$5,702Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$1,950
Market rent$2,180
Est. payment standard (108%)Used$2,100
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.70
1 BR
0.84
2 BR
0.89
3 BR
0.96
4 BR
1.12
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 97031 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97031 (Hood River, OR) is $1,950 a month. That is up 1.6% from $1,920 in FY 2026. Hood River is in the Hood River County, OR non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,888. Among 4 ZIP codes in Hood River County, 97031 has the highest two-bedroom rent (county range $1,700–$1,950). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97031 is 47% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97031
BedroomsFY 2027Change90–110% range
Studio$1,380+3.0%$1,242–$1,518
1BR$1,490+2.1%$1,341–$1,639
2BR$1,950+1.6%$1,755–$2,145
3BR$2,700+1.1%$2,430–$2,970
4BR$3,260+1.2%$2,934–$3,586

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97031
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,380$1,490$1,950$2,700$3,260
FY 2026$1,340$1,460$1,920$2,670$3,220
FY 2025$1,320$1,460$1,920$2,690$3,220
FY 2024area FMR$1,236$1,388$1,824$2,570$3,095
FY 2023area FMR$1,147$1,304$1,716$2,439$2,923

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Hood River County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97031
97014$1,910−2.1%
97031Current$1,950—
97041$1,700−12.8%
97044$1,890−3.1%

Questions about ZIP 97031 rents

How much will Section 8 pay for a two-bedroom in ZIP 97031?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,888, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,699 to $2,077 a month; under the ZIP-level Small Area FMR of $1,950 it would be $1,755 to $2,145. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 97031 in?

ZIP 97031 is in the Hood River County, OR non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,888.

How much did fair market rent change in ZIP 97031 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,920 in FY 2026 to $1,950 in FY 2027. Since FY 2025 it has risen 1.6%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentHood River, OR fair market rentOR statewide rentsWhat is SAFMR?Data sources