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 | $2,830 |
| 5 Bedrooms | $3,283 |
| 6 Bedrooms | $3,677 |
| 7 Bedrooms | $3,971 |
| 8 Bedrooms | $4,170 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,360 | $699,713 | 0.34% | F |
| 4BR | $2,830 | $812,139 | 0.35% | F |
U.S. Census Bureau data (2024)
The ZIP code 97022 in Portland, Oregon, presents a balanced investment opportunity for landlords and small-portfolio investors.
The Fair Market Rent (FMR) for 2024 in ZIP 97022 is set at $1,940, which is notably higher than the average market rent of $1,614. This indicates a higher potential rental yield compared to the broader market, making it attractive for those seeking to maximize their returns.
However, the stability of the market is a mixed picture. With only 17.3% of residents being renters, the demand for rental properties is relatively low. The median household income in the area is $92,945, which suggests that tenants are likely to be financially stable and less prone to default on rent payments. Yet, the lack of data on days on market (DOM) implies uncertainty regarding how quickly properties can be rented out once they become vacant.
Given these factors, ZIP 97022 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The higher FMR compared to the market rent supports a decent yield, while the strong median income provides a level of tenant reliability that bolsters stability.
To summarize, the analysis of ZIP 97022 based on the provided figures—FMR of $1,940, market rent of $1,614, median home value of $665,157, and median income of $92,945—suggests an investment environment that offers a reasonable balance between yield and stability.
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.