Section 8 Fair Market Rent (FMR) for ZIP 97210 - 2027

Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,460
1 Bedroom	$1,570
2 Bedrooms	$1,800
3 Bedrooms	$2,440
4 Bedrooms	$2,940
5 Bedrooms	$3,410
6 Bedrooms	$3,819
7 Bedrooms	$4,125
8 Bedrooms	$4,331

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

11,324

Median Household Income

$93,621

Housing Units

7,888

Renter Percentage

67.9%

Occupancy Rate

89.6%

Renter Occupied

4,802

Housing Authorities Serving ZIP 97210

Housing Authority of Portland (Portland, OR) - 12,474 Section 8 vouchers
Housing Authority of Washington County (Hillsboro, OR) - 3,380 Section 8 vouchers

The ZIP code 97210, located in Portland, Oregon, is a vibrant urban area known for its diverse neighborhoods, access to public transportation, and proximity to downtown amenities. This section delves into key metrics that define the rental market and overall economic landscape of 97210, providing insights for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 97210 for fiscal year 2024 is set at $2,010. This figure represents the maximum amount that low-income families should pay for housing.
The Zillow Observed Rent Index (ZORI) for the area stands at $1,574. This metric reflects the typical rent price for a standard rental unit in the region.
The median home value in ZIP 97210 is $691,256, indicating a relatively high-value residential market.
Renters make up 67.9% of the population in this ZIP code, highlighting a strong demand for rental properties.
The median household income in the area is $93,621, suggesting that residents have a good financial capacity to support rental prices.

The data points indicate a robust rental market in ZIP 97210, with a significant portion of the population renting rather than owning homes. Despite the high median home values, the observed rent index suggests competitive pricing. The combination of a high median income and a substantial renter share creates a favorable environment for landlords and investors seeking steady returns. However, it's important to note that the Fair Market Rent is higher than the average observed rent, which could signal potential for rental increases if the market adjusts to meet these guidelines. Overall, ZIP 97210 presents a solid investment opportunity for those interested in the rental sector of Portland, OR.

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.