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 | $1,490 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,830 |
| 3 Bedrooms | $2,480 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,480 | $725,183 | 0.34% | F |
| 4BR | $2,990 | $889,987 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 97042 stands out within its county due to several distinctive factors. With a population of 3,361 residents, only 10.5% of whom rent their homes, it indicates a primarily owner-occupied area. The median income in this ZIP is $118,045, reflecting a relatively affluent community. Additionally, the median home value is notably high at $700,329, suggesting that homeownership here is a significant investment.
Moving into the specifics of voucher economics, the Fair Market Rent (FMR) for ZIP 97042 in fiscal year 2024 is set at $1,750. This compares favorably to the Census ACS-reported market rent of $1,679, indicating a slight premium for those utilizing Section 8 vouchers. This premium can be beneficial for landlords, as it may help cover the costs associated with maintaining higher-quality rental properties in an area known for its expensive housing market.
The data signature for ZIP 97042 reads as stable. The low percentage of renters and high median income suggest a steady economic base, which can provide predictability for small-portfolio investors. The high median home value also points to a strong real estate market, potentially leading to appreciation over time. While the number of voucher holders is limited, the slight premium they receive could make them a reliable tenant option for landlords who choose to accept them.
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.