Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 97309 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97309 (Salem, OR) is $1,700 a month. That is up 9.0% from $1,560 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, 97309 is tied for the 17th-highest two-bedroom rent (county range $1,480–$2,110). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97309 is 28% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 97309
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,180
$1,290
+9.3%
$1,161–$1,419
1BR
$1,200
$1,300
+8.3%
$1,170–$1,430
2BR
$1,560
$1,700
+9.0%
$1,530–$1,870
3BR
$2,160
$2,350
+8.8%
$2,115–$2,585
4BR
$2,340
$2,580
+10.3%
$2,322–$2,838
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 97309
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,290
$1,300
$1,700
$2,350
$2,580
FY 2026
$1,180
$1,200
$1,560
$2,160
$2,340
FY 2025
$1,140
$1,200
$1,540
$2,140
$2,330
FY 2024
$990
$1,050
$1,330
$1,870
$2,080
FY 2023
$920
$970
$1,240
$1,760
$2,030
Two-bedroom rent in nearby Marion County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 97309?
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 $1,700 it would be $1,530 to $1,870. 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 97309 in?
ZIP 97309 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 97309 for FY 2027?
The two-bedroom FMR rose 9.0%, from $1,560 in FY 2026 to $1,700 in FY 2027. Since FY 2023 it has risen 37.1%.
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