Skip to main content
Loading page
Lane County/Springfield/97478

97478

ZIPSAFMR
Lane County, OR
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$1,180$1,300
1 BR$1,200$1,320
2 BR$1,570$1,620
3 BR$2,170$2,240
4 BR$2,620$2,520
5 BR$3,013Not available
6 BR$3,465Not available
7 BR$3,985Not available
8 BR$4,582Not available

Purchase Price Calculator

Maximum purchase price
$178,815

Cost breakdown

+Likely effective rent$1,620
HUD FMR$1,570
Market rent$1,640
Est. payment standard (103%)Used$1,620
-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

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.81
1 BR
0.83
2 BR
0.96
3 BR
0.96
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 97478 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97478 (Springfield, OR) is $1,570 a month. That is down 8.7% from $1,720 in FY 2026. Springfield is in the Eugene-Springfield, 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 $1,546. Among 42 ZIP codes in Lane County, 97478 is tied for the 15th-highest two-bedroom rent (county range $1,520–$2,320). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97478 is 19% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97478
BedroomsFY 2027Change90–110% range
Studio$1,180−5.6%$1,062–$1,298
1BR$1,200−8.4%$1,080–$1,320
2BR$1,570−8.7%$1,413–$1,727
3BR$2,170−9.2%$1,953–$2,387
4BR$2,620−9.3%$2,358–$2,882

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97478
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,180$1,200$1,570$2,170$2,620
FY 2026$1,250$1,310$1,720$2,390$2,890
FY 2025$1,080$1,170$1,530$2,140$2,570
FY 2024$980$1,100$1,440$2,030$2,440
FY 2023$880$1,000$1,320$1,880$2,250

Two-bedroom rent in nearby Lane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97478
97461$1,550−1.3%
97463$1,520−3.2%
97475$1,550−1.3%
97477$1,520−3.2%
97478Current$1,570—
97480$1,520−3.2%
97487$1,720+9.6%
97488$1,550−1.3%
97489$1,5700.0%
97490$1,550−1.3%
97492$1,860+18.5%
97493$1,520−3.2%

Questions about ZIP 97478 rents

How much will Section 8 pay for a two-bedroom in ZIP 97478?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,546, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,391 to $1,701 a month; under the ZIP-level Small Area FMR of $1,570 it would be $1,413 to $1,727. 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 97478 in?

ZIP 97478 is in the Eugene-Springfield, OR MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,546.

How much did fair market rent change in ZIP 97478 for FY 2027?

The two-bedroom FMR fell 8.7%, from $1,720 in FY 2026 to $1,570 in FY 2027. Since FY 2023 it has risen 18.9%.

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