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 | $1,640 |
| 1 Bedroom | $1,760 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,300 |
| 5 Bedrooms | $3,828 |
| 6 Bedrooms | $4,287 |
| 7 Bedrooms | $4,630 |
| 8 Bedrooms | $4,862 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,760 | $354,825 | 0.5% | F |
| 2BR | $2,020 | $542,033 | 0.37% | F |
| 3BR | $2,740 | $764,704 | 0.36% | F |
| 4BR | $3,300 | $932,998 | 0.35% | F |
| 5BR | $3,828 | $1,137,767 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 97212 in Portland, OR, stands out within Multnomah County due to its unique demographic and economic characteristics. With a population of 28,042 residents, it has a significant rental market where 37.4% of the population rents their homes. The median income for residents is $131,932, which is notably higher than the national average. However, the median home value of $791,018 indicates that homeownership is more expensive compared to other areas in the county.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 97212 in fiscal year 2024 is set at $2,210. This is higher than the market rent, measured by the Zillow Rent Index (ZORI), which is $1,994. This suggests that landlords participating in the Section 8 program can expect to receive slightly above-market rent payments, making the area attractive for those who wish to secure stable tenants with government-backed rental support.
The data signature for ZIP 97212 reads as relatively stable. Despite the high median home value, the median income supports a robust economy, and the rental market remains active. The difference between the FMR and ZORI indicates a healthy balance where the government's support does not significantly distort the local rental market but rather complements it, ensuring that landlords can maintain their properties without facing financial strain.
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.