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 | $1,680 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,070 |
| 3 Bedrooms | $2,810 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,800 | $368,039 | 0.49% | F |
| 2BR | $2,070 | $480,109 | 0.43% | F |
| 3BR | $2,810 | $588,933 | 0.48% | F |
| 4BR | $3,380 | $686,741 | 0.49% | F |
| 5BR | $3,921 | $773,082 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 97211 in Portland, Oregon, stands out within Multnomah County due to its unique demographic and economic characteristics. With a population of 33,769, it has a rental rate of 37.6%, which is slightly above the national average. The median income here is $112,586, reflecting a relatively affluent community. However, the median home value at $567,974 indicates that homeownership is a significant aspect of the local economy, despite the high rental percentage.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 97211 for fiscal year 2024 is set at $2,460. This is notably higher than the market rent, known as the Zillow Rent Index (ZORI), which currently stands at $2,147. This discrepancy suggests that landlords who accept Section 8 vouchers can expect to receive rents that are closer to the FMR rather than the ZORI, providing a buffer against the lower market rates.
The data signature for ZIP 97211 reads as stable. The median income and home values suggest a solid economic foundation where residents can afford higher rents. Additionally, the slight premium in FMR over ZORI indicates that the government aims to support affordable housing while keeping up with the local cost of living. This stability benefits both landlords and small-portfolio investors who are considering accepting Section 8 vouchers, as they can rely on steady rental income that is aligned with the area's economic health.
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.