Section 8 Fair Market Rent (FMR) for ZIP 97266 - 2027

Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA

Investment Score for ZIP 97266

Monthly Rent (2BR)

$1,770

Median Price (2BR)

$350,860

1% Rule

0.5%

Annual Yield

6.05%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,440
1 Bedroom	$1,540
2 Bedrooms	$1,770
3 Bedrooms	$2,400
4 Bedrooms	$2,890
5 Bedrooms	$3,352
6 Bedrooms	$3,754
7 Bedrooms	$4,054
8 Bedrooms	$4,257

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,540	$307,127	0.5%	F
2BR	$1,770	$350,860	0.5%	F
3BR	$2,400	$407,061	0.59%	F
4BR	$2,890	$475,645	0.61%	D
5BR	$3,352	$540,952	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

35,423

Median Household Income

$72,577

Housing Units

13,836

Renter Percentage

45.9%

Occupancy Rate

94.8%

Renter Occupied

6,013

The ZIP code 97266 is located in Portland, Oregon, a city known for its vibrant culture, diverse neighborhoods, and strong rental market. This particular area benefits from its proximity to urban amenities while maintaining a residential feel, making it attractive to both renters and homeowners.

The Fair Market Rent (FMR) for ZIP 97266 in fiscal year 2024 is set at $1,880, indicating the government's benchmark for rental affordability.
The actual market rent, as measured by the Zillow Observed Rental Index (ZORI), stands at $1,895, closely aligning with the FMR but reflecting slight market adjustments.
The median home value in ZIP 97266 is $400,831, suggesting that homeownership is relatively accessible compared to other parts of Portland.
Renters make up 45.9% of the housing market, demonstrating a significant demand for rental properties.
The average Days on Market (DOM) for rental listings is 21 days, which is indicative of a competitive rental market where properties are quickly occupied.
The median household income in the area is $72,577, providing insight into the financial stability and spending power of residents.

Given these data points, investors can expect a robust rental market in ZIP 97266, with rental rates slightly above the government's affordability benchmarks. The high renter share and quick occupancy times suggest strong demand for rental properties, making this area particularly appealing for those looking to invest in the rental sector. Additionally, the median home value indicates that homeownership remains within reach for many, potentially stabilizing property values over time. Overall, the combination of a solid rental market and reasonable home values makes ZIP 97266 a promising investment opportunity for both landlords and small-portfolio investors.

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.