Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,470 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $1,810 |
| 3 Bedrooms | $2,460 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
The HUD Fair Market Rent (FMR) for ZIP 97228 in the Portland-Vancouver-Hillsboro County, specifically for the Portland-Vancouver-Hillsboro, OR-WA MSA metro area, is set at $1990 for the fiscal year 2024. According to recent market data, the average market rent for a two-bedroom unit in ZIP 97228 is $1997. This indicates that voucher tenants will cashflow marginally at the FMR rate, with little to no profit cushion.
To derive the rent-to-price ratio, we need the median home value for ZIP 97228. However, this information is currently unavailable. Nonetheless, the close alignment between the HUD FMR and the market rent suggests a stable rental environment where voucher tenants can be competitive, but not necessarily dominant.
The days on market (DOM) and price-cut share percentages are also missing. These metrics would provide insights into the current state of the real estate market and how quickly properties are renting out. In the absence of these figures, it's important to note that the strong correlation between the HUD FMR and market rent implies a balanced market where neither buying nor renting holds a significant advantage over the other.
The strongest angle for investors in ZIP 97228 is likely stability. Given the tight alignment between HUD FMRs and market rents, investors can expect consistent cash flow without the volatility often seen in rapidly changing markets.
Data Sources: FMR data from HUD (2027).
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.