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Marion County/Salem/97306

97306

ZIPSAFMR
Marion County, OR
Zillow

ZIP Investment Score

67Below average

095130300
BRFMR
Eff. Rent
0 BR$1,430$1,290
1 BR$1,440$1,490
2 BR$1,880$1,620
3 BR$2,600$2,310
4 BR$2,850$2,880
5 BR$3,277Not available
6 BR$3,769Not available
7 BR$4,334Not available
8 BR$4,985Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,880
Market rentUsed$1,620
Est. payment standard (91%)$1,710
-Principal and interest-$904
Loan amount$143,052
Down payment$35,763
Rate6.50%
Term30 years
-Operating costs-$516
Property taxes-$179
Insurance-$175
Utilities$0
HOA$0
Management-$162
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,074(72.9% ROI)
Projected value
$192,564
Return breakdown
Property appreciation+$13,749
Loan principal paid down+$5,125
Rental cash flow+$7,200
5-year hold
+$44,637(124.8% ROI)
Projected value
$202,313
Return breakdown
Property appreciation+$23,498
Loan principal paid down+$9,140
Rental cash flow+$12,000
10-year hold
+$95,861(268.0% ROI)
Projected value
$228,898
Return breakdown
Property appreciation+$50,083
Loan principal paid down+$21,778
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.11
1 BR
0.95
2 BR
1.16
3 BR
1.13
4 BR
0.99
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 97306 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97306 (Salem, OR) is $1,880 a month. That is up 13.9% from $1,650 in FY 2026. Salem is in the Salem, OR MSA. 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 metro-wide two-bedroom FMR of $1,692. Among 31 ZIP codes in Marion County, 97306 has the 7th-highest two-bedroom rent (county range $1,480–$2,110). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97306 is 42% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97306
BedroomsFY 2027Change90–110% range
Studio$1,430+14.4%$1,287–$1,573
1BR$1,440+13.4%$1,296–$1,584
2BR$1,880+13.9%$1,692–$2,068
3BR$2,600+14.0%$2,340–$2,860
4BR$2,850+15.4%$2,565–$3,135

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97306
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,430$1,440$1,880$2,600$2,850
FY 2026$1,250$1,270$1,650$2,280$2,470
FY 2025$1,220$1,270$1,640$2,280$2,480
FY 2024$1,010$1,070$1,360$1,920$2,130
FY 2023$940$990$1,260$1,790$2,060

Two-bedroom rent in nearby Marion County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97306
97301$1,610−14.4%
97302$1,620−13.8%
97303$1,680−10.6%
97305$1,760−6.4%
97306Current$1,880—
97307$1,700−9.6%
97308$1,700−9.6%
97309$1,700−9.6%
97310$1,700−9.6%
97317$1,760−6.4%
97325$2,110+12.2%
97342$1,730−8.0%

Questions about ZIP 97306 rents

How much will Section 8 pay for a two-bedroom in ZIP 97306?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,692, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,523 to $1,861 a month; under the ZIP-level Small Area FMR of $1,880 it would be $1,692 to $2,068. 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 97306 in?

ZIP 97306 is in the Salem, OR MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,692.

How much did fair market rent change in ZIP 97306 for FY 2027?

The two-bedroom FMR rose 13.9%, from $1,650 in FY 2026 to $1,880 in FY 2027. Since FY 2023 it has risen 49.2%.

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 rentSalem, OR fair market rentOR statewide rentsWhat is SAFMR?Data sources