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 market analysis for Section 8 investors in ZIP code 97242, located in Portland-Vancouver-Hillsboro County, Oregon, reveals several key points. The HUD Fair Market Rent (FMR) for ZIP 97242 is set at $1990 for fiscal year 2024. However, specific data on the current market rent for this ZIP code is not readily available, which complicates a direct comparison.
The median home value in ZIP 97242 is also not provided in the available datasets. Without this figure, deriving a precise rent-to-price ratio is challenging. Nonetheless, it is clear that the FMR is significantly lower than typical market rents in the Portland area, indicating that voucher tenants would likely only cashflow in premium units or those with below-average market rent values.
Stability remains the strongest angle for investors in this market, given the reliance on government subsidies for rent. While appreciation and cashflow are important considerations, the consistent demand for affordable housing and the guaranteed rental payments from the Section 8 program provide a stable investment environment.
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.