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 |
|---|---|---|---|---|
| 3BR | $2,360 | $634,566 | 0.37% | F |
| 4BR | $2,800 | $744,931 | 0.38% | F |
U.S. Census Bureau data (2024)
The dynamics of the ZIP code 97053 reveal a market in flux, characterized by specific indicators that paint a picture of current conditions. With a Fair Market Rent (FMR) of $1780 for fiscal year 2024, landlords and small-portfolio investors should take note of the rental landscape. Although the exact market rent is currently unavailable, the FMR provides a benchmark against which to measure potential rental income.
The median home value of $626,152 suggests a relatively high-cost area, which could indicate a strong economy and higher purchasing power among residents. However, the lack of recent data on price-cut shares and days on market (DOM) makes it challenging to assess the immediate supply-demand balance. Despite these gaps, the 2.6% renter share offers insight into the long-term housing pressures within the community. This low percentage implies that the majority of households own their homes, potentially indicating a stable population with fewer short-term fluctuations in housing demand.
A lower renter share can also suggest that rental properties face less competition for tenants compared to areas with a higher proportion of renters. In such a scenario, landlords might find it easier to maintain consistent occupancy rates but could also experience challenges in attracting a sufficient number of renters to justify the investment in rental properties. The absence of significant rental activity could mean that the area is experiencing a trend toward homeownership, which could be beneficial for those looking to sell or purchase homes rather than lease them.
While the current data do not provide a complete picture of the supply-demand relationship, the high median home value and low renter share suggest a market where homeownership is favored. This trend could imply that demand for rental properties is relatively low, which could lead to longer periods between finding new tenants if they move out. However, it also indicates a robust local economy capable of supporting higher property values, which benefits both landlords and home sellers.
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.