Skip to main content
Loading page
Tillamook County/Otis/97368

97368

ZIPSAFMR
Tillamook County, OR
Zillow

ZIP Investment Score

54Below average

095130300
BRFMR
Eff. Rent
0 BR$1,010$1,110
1 BR$1,030$1,130
2 BR$1,340$1,470
3 BR$1,840$2,020
4 BR$2,240$2,460
5 BR$2,576Not available
6 BR$2,962Not available
7 BR$3,407Not available
8 BR$3,918Not available

Purchase Price Calculator

Maximum purchase price
$156,525

Cost breakdown

+Likely effective rent$1,470
HUD FMR$1,340
Market rent$1,960
Est. payment standard (110%)Used$1,470
-Principal and interest-$791
Loan amount$125,220
Down payment$31,305
Rate6.50%
Term30 years
-Operating costs-$479
Property taxes-$157
Insurance-$175
Utilities$0
HOA$0
Management-$147
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,722(75.8% ROI)
Projected value
$168,560
Return breakdown
Property appreciation+$12,035
Loan principal paid down+$4,486
Rental cash flow+$7,200
5-year hold
+$40,569(129.6% ROI)
Projected value
$177,094
Return breakdown
Property appreciation+$20,569
Loan principal paid down+$8,000
Rental cash flow+$12,000
10-year hold
+$86,904(277.6% ROI)
Projected value
$200,365
Return breakdown
Property appreciation+$43,840
Loan principal paid down+$19,063
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.58
1 BR
0.57
2 BR
0.68
3 BR
0.76
4 BR
0.87
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 97368 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97368 (Otis, OR) is $1,340 a month. That is down 5.0% from $1,410 in FY 2026. Otis is in the Tillamook 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 $1,301. Among 15 ZIP codes in Tillamook County, 97368 has the 10th-highest two-bedroom rent (county range $1,270–$1,660). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97368 is 1% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97368
BedroomsFY 2027Change90–110% range
Studio$1,010−5.6%$909–$1,111
1BR$1,030−3.7%$927–$1,133
2BR$1,340−5.0%$1,206–$1,474
3BR$1,840−5.6%$1,656–$2,024
4BR$2,240−5.5%$2,016–$2,464

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97368
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,010$1,030$1,340$1,840$2,240
FY 2026$1,070$1,070$1,410$1,950$2,370
FY 2025$960$980$1,290$1,800$2,160
FY 2024area FMR$832$919$1,173$1,653$1,809
FY 2023area FMR$753$832$1,095$1,556$1,827

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

Two-bedroom rent in nearby Tillamook County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97368
97112$1,490+11.2%
97118$1,270−5.2%
97122$1,490+11.2%
97130$1,660+23.9%
97131$1,600+19.4%
97134$1,270−5.2%
97135$1,470+9.7%
97136$1,270−5.2%
97141$1,270−5.2%
97147$1,270−5.2%
97149$1,410+5.2%
97368Current$1,340—

Questions about ZIP 97368 rents

How much will Section 8 pay for a two-bedroom in ZIP 97368?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,301, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,171 to $1,431 a month; under the ZIP-level Small Area FMR of $1,340 it would be $1,206 to $1,474. 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 97368 in?

ZIP 97368 is in the Tillamook County, OR non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,301.

How much did fair market rent change in ZIP 97368 for FY 2027?

The two-bedroom FMR fell 5.0%, from $1,410 in FY 2026 to $1,340 in FY 2027. Since FY 2025 it has risen 3.9%.

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