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 situation in ZIP code 97254, located in an area of Oregon labeled as Unknown, presents a unique challenge for both renters and landlords alike. Given the lack of specific data on median income and market rental rates, it is impossible to accurately assess whether a typical household can afford the local rent. However, we can draw some insights based on the available information regarding the Housing Choice Voucher Program.
The voucher payment standard for this zip code in fiscal year 2024 is set at $1990, which represents the Fair Market Rent (FMR) for the area. This figure serves as a benchmark for subsidized housing costs but does not provide a complete picture of the rental market dynamics without knowing the exact market rate.
With an unspecified percentage of renters and an unknown total population, the affordability gap remains uncertain. Nonetheless, landlords should consider that voucher holders offer a steady and reliable source of income, backed by the government. The fixed payment amount of $1990 ensures consistent rent collection, mitigating risks associated with market fluctuations.
The takeaway for landlords is clear: focusing on properties that qualify for voucher payments can stabilize cash flow. While the exact market rate remains unclear, the guaranteed income from vouchers provides a predictable revenue stream. Landlords should weigh the benefits of reduced vacancy rates and stable rental income against the potential for higher cash rents from non-subsidized tenants. In a competitive market, especially where the affordability gap is significant, voucher tenants can be a strategic choice for maintaining occupancy and financial stability.
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.