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 | $1,520 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,730 | $457,870 | 0.38% | F |
| 3BR | $2,360 | $480,962 | 0.49% | F |
| 4BR | $2,800 | $628,438 | 0.45% | F |
U.S. Census Bureau data (2024)
The ZIP code 97114 in Dayton, OR, has a population of 5,013 residents, with 21.2% being renters. This indicates that while there is a significant number of renters, it is not a renter-heavy area. The median household income stands at $84,228, which provides context for the affordability of housing. The market rent for the area is $1,378 per month, representing approximately 16.4% of the median household income when calculated on an annual basis.
To further analyze the suitability of this area for Section 8 tenants, consider the Fair Market Rent (FMR) set at $2,040 for FY 2024. The FMR is higher than the current market rent, suggesting that there might be a limited pool of Section 8 vouchers available in the area due to the relatively lower cost of living compared to the FMR threshold. Landlords should note that the discrepancy between the FMR and the actual market rent could indicate a smaller demand for Section 8 vouchers among potential tenants.
In terms of tenant profiles, landlords in ZIP 97114 can expect a mix of low-income families and individuals who may qualify for Section 8 but will likely face competition for vouchers due to the higher FMR. The typical rent of $1,378 is significantly below the FMR, which means that tenants who receive vouchers might have a portion of their subsidy unused, allowing them to potentially afford higher rents elsewhere if they choose to move. However, given the lower market rent, these tenants are likely to find the area affordable without needing to stretch their voucher to cover the entire rent amount.
Overall, ZIP 97114 is more homeowner-dominated than renter-heavy, with a modest demand for Section 8 vouchers. Landlords should prepare for a tenant base that includes some Section 8 participants but also other low- to moderate-income renters who do not rely on government assistance. The combination of a reasonable rental market and a slightly higher FMR suggests that landlords might benefit from understanding both the voucher system and the broader rental market dynamics to effectively manage their properties.
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.