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 | $1,550 |
| 1 Bedroom | $1,660 |
| 2 Bedrooms | $1,910 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $3,120 |
| 5 Bedrooms | $3,619 |
| 6 Bedrooms | $4,053 |
| 7 Bedrooms | $4,377 |
| 8 Bedrooms | $4,596 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,910 | $403,790 | 0.47% | F |
| 3BR | $2,590 | $502,916 | 0.51% | F |
| 4BR | $3,120 | $577,651 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 97027, located in Gladstone, Oregon, presents a dynamic rental market with strong indicators pointing towards demand potentially outpacing supply. The Fair Market Rent (FMR) for the area, set at $2,110 for fiscal year 2024, exceeds the current market rent, which stands at $1,853 according to ZORI (Zillow Observed Rent Index). This suggests that there is upward pressure on rents, as landlords may be seeking to align their rental prices with the FMR to maximize returns.
The low price-cut share of 0.2% implies that landlords are not frequently reducing rents to attract tenants, indicating a relatively stable market with fewer incentives needed to fill vacancies. While the Days on Market (DOM) data is currently unavailable, the high median home value of $517,630 signals a robust local economy capable of supporting higher housing costs, both in terms of ownership and rentals.
A significant 35.0% of residents in 97027 are renters, which points to a substantial and consistent demand for rental properties. This high percentage of renters can be indicative of long-term housing pressure, as it suggests that a considerable portion of the population may find homeownership unattainable or undesirable. For landlords and small-portfolio investors, this means a steady pool of potential tenants who are willing to pay for quality rental units.
In conclusion, the snapshot of the Gladstone, OR rental market reveals a scenario where demand appears to be robust, supported by a healthy local economy and a significant share of renters. Investors should consider these factors when evaluating the potential returns and stability of their investments in this ZIP code.
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.