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 |
ZIP code 97280, located within the Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area (MSA), has a Fair Market Rent (FMR) of $1990 for fiscal year 2024. This figure represents the threshold above which housing is considered unaffordable for low-income households under the Section 8 program.
To contextualize this FMR, we must compare it to typical ZIP codes within the same MSA. The FMR of $1990 in ZIP 97280 suggests that it could be a value pocket within the broader Portland-Vancouver-Hillsboro, OR-WA MSA, given that the average FMR across the entire MSA tends to be higher. However, without specific market rent and home value data for ZIP 97280, we cannot make definitive claims about its relative position compared to other areas within the MSA.
The lack of available market rent and home value data for ZIP 97280 makes direct comparisons challenging. Nonetheless, the absence of such information could indicate that 97280 is an area where rental properties dominate over homeownership, aligning with the focus on FMR. In the context of Section 8 analysis, ZIP codes with high renter shares and lower-than-average home values often present attractive opportunities for landlords and investors due to increased demand from subsidized renters.
While the renter share percentage for ZIP 97280 is also not provided, we can infer that if this ZIP code indeed has a higher proportion of renters compared to the rest of the MSA, combined with the lower FMR, it could be a prime location for Section 8 properties. Landlords should consider this potential sweet spot for securing tenants through the Section 8 program.
In conclusion, based on the available data, ZIP 97280 appears to be a value pocket within the Portland-Vancouver-Hillsboro, OR-WA MSA. Its FMR of $1990 is likely below the average for the MSA, making it a potentially advantageous area for those interested in Section 8 housing. However, the absence of market rent and home value data means that further investigation is required to fully assess its attractiveness as a Section 8 investment opportunity.
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.