Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,730 | $469,825 | 0.37% | F |
| 3BR | $2,360 | $564,487 | 0.42% | F |
| 4BR | $2,800 | $672,641 | 0.42% | F |
| 5BR | $3,248 | $730,125 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 97013, located in Canby, OR, stands out within Clackamas County due to its unique demographic and economic characteristics. With a population of 24,293 residents, it has a rental rate of 27.2%, slightly below the national average. The median income here is $101,832, which is relatively high, indicating a prosperous community. However, the median home value of $591,252 is notably higher, suggesting that homeownership is more expensive relative to income compared to other areas.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 97013 in fiscal year 2024 is set at $1,710. This is significantly lower than the Zillow Observed Rent Index (ZORI), which stands at $2,030. For landlords and small-portfolio investors, this means that accepting Section 8 vouchers may result in a lower rent payment compared to the market rate. However, the difference between FMR and ZORI indicates a potential gap where landlords could still attract tenants willing to pay above the voucher amount, albeit not reaching the full market price.
Considering the data signature of ZIP 97013, it reads as stable. The median income and home values suggest a consistent economic environment, while the rental rate implies a steady demand for housing. For those interested in Section 8 properties, this stability can be beneficial, providing a reliable tenant pool and predictable income streams. However, the disparity between FMR and market rates also suggests a transitional aspect within the rental market, indicating opportunities for landlords to adjust their strategies based on the balance between voucher acceptance and market-rate rents.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.