FY2027 Small Area FMR · Falls City, OR

ZIP 97344 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97344 (Falls City, OR) is $1,430 a month, up 2.1% from FY2026. That is 15% below the Salem, OR area-wide FMR of $1,692.

2-bedroom SAFMR$1,430per month ▲ 2.1%

Area-wide 2 BR FMR$1,692Salem, OR

Rank in the area42ndof 42 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,287

2 BR Small Area FMR$1,430

110% of SAFMR$1,573

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,090▲ 2.8%

1 BR$1,090▲ 0.9%

2 BR$1,430▲ 2.1%

3 BR$1,980▲ 2.1%

4 BR$2,170▲ 2.8%

FY2027 FY2026

Where 97344 sits in the Salem, OR area

Of the 42 ZIP codes HUD lists for the area, 97344 has the 42nd highest two-bedroom Small Area FMR. Salem, OR is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,692 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,430 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,090	$981 – $1,199	$1,285	$1,060
1 bedroom	$1,090	$981 – $1,199	$1,294	$1,080
2 bedrooms	$1,430	$1,287 – $1,573	$1,692	$1,400
3 bedrooms	$1,980	$1,782 – $2,178	$2,341	$1,940
4 bedrooms	$2,170	$1,953 – $2,387	$2,564	$2,110

A household renting a two-bedroom home at the Small Area FMR of $1,430 needs about $57,200 a year to keep housing costs at 30% of income. The area median family income is $103,400 and the 80% low-income limit for four people is $81,450. ZIP code 97344 lies mainly in Polk County. See the Salem, OR metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
97338	Dallas	7.0 mi	$1,560
97361	Monmouth	9.2 mi	$1,650
97378	Sheridan	14.1 mi	$1,730
97371	Rickreall	15.8 mi	$1,720
97396	Willamina	16.8 mi	$1,730
97351	Independence	16.8 mi	$1,970

Questions

What is the Fair Market Rent for ZIP code 97344?

HUD's FY2027 Small Area Fair Market Rents for 97344 are $1,090 (studio), $1,090 (1 BR), $1,430 (2 BR), $1,980 (3 BR) and $2,170 (4 BR) a month.

What is the Section 8 payment standard in 97344?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97344 that range is $1,287 to $1,573 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97344?

The FY2026 income limits of the Salem, OR area apply: median family income $103,400, low-income (80%) limit $81,450 for a family of four.