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 |
|---|---|---|---|---|
| 2BR | $1,730 | $491,269 | 0.35% | F |
| 3BR | $2,360 | $636,318 | 0.37% | F |
| 4BR | $2,800 | $798,184 | 0.35% | F |
U.S. Census Bureau data (2024)
The real estate market in ZIP 97119, Gaston, Oregon, presents a nuanced scenario for both landlords and small-portfolio investors. With a median home value of $656,212, the area reflects a high-end residential market. The absence of percentage reductions in listings and the unavailability of the median days on market (DOM) data suggest stability but also caution against making definitive conclusions regarding short-term trends.
The setup points towards strong pricing power over the next 12-24 months, assuming continued economic growth and low supply of new homes. High median values often indicate a robust local economy and a demand that outstrips supply, which supports maintaining higher prices.
On the rental side, the Fair Market Rent (FMR) for ZIP 97119 in fiscal year 2024 is set at $1,880, whereas the current market rent is approximately $1,433 according to Census ACS data. This gap suggests potential upward pressure on rents, as landlords may seek to align their rental rates with the FMR. However, it's important to note that actual rental price increases will depend on various factors including local unemployment rates, population growth, and the overall health of the housing market.
For long-hold investors, the realistic appreciation thesis is grounded in the expectation that property values will continue to rise, albeit at a moderate pace. The high median home value and the potential for rental rate adjustments provide a solid foundation for value appreciation. Investors should be prepared for gradual changes rather than explosive growth, given the current data and typical market cycles.
In summary, ZIP 97119 offers a stable environment with strong signals for maintaining and potentially increasing property values and rents. The data implies a market where careful, strategic investment can yield positive returns over time, especially for those looking to hold properties for extended periods.
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.