Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,550 |
| 4 Bedrooms | $3,070 |
| 5 Bedrooms | $3,561 |
| 6 Bedrooms | $3,988 |
| 7 Bedrooms | $4,307 |
| 8 Bedrooms | $4,522 |
U.S. Census Bureau data (2024)
In ZIP 97030, Gresham, OR, the Fair Market Rent (FMR) for zip FY 2024 stands at $1960, which is notably higher than the $1,613 market rent (ZORI) indicating a potential gap between what the government deems fair and the actual rental market conditions. The median home value of $439,094 suggests a moderately priced residential area, appealing to a broad range of buyers. With a renter share of 54.5%, it's evident that nearly half of the population opts for renting over buying, making rental properties a significant asset for investors. The median income of $69,239 provides insight into the financial capacity of residents, crucial for assessing the affordability of housing options. A 22-day Days on Market (DOM) reflects a relatively quick turnover for listings, signaling a dynamic real estate market where timely action can yield better returns. The price-cut share of 0.3% is exceptionally low, suggesting that once a property is listed at an appropriate price, it is likely to sell without needing reductions. This combination of factors—particularly the disparity between FMR and ZORI—makes ZIP 97030 a favorable location for Section 8 investments. Landlords and small-portfolio investors can leverage the higher FMR to ensure steady, government-backed rental income while benefiting from a robust market that supports both rental and sale opportunities. The verdict on Section 8 for this area is a strong affirmative, given the supportive economic indicators and the high demand for affordable housing.
Data Sources: FMR data from HUD (2027). 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.