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 97286 is located in Portland, OR, and represents an established neighborhood with a total population of 12,286 residents. Approximately 54.1% of the residents are renters, indicating a significant demand for rental properties. The median household income in this area is $42,286, which is slightly above the state average.
The median home value in ZIP 97286 is $172,188, reflecting an affordable housing market. However, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,990, which is notably higher than the market rent of $1,174. This suggests that Section 8 vouchers can cover a substantial portion of the rent in this area.
The FMR being significantly higher than the market rent means that the neighborhood is well-suited for both hands-off voucher operators and hands-on value-add buyers. Voucher operators can find properties that are easily covered by the subsidy, while value-add buyers can look for opportunities to improve properties and still remain within the subsidized rent range.
In summary, ZIP 97286 in Portland, OR, offers a mix of affordability and a robust rental market. With a strong demand for rentals and a favorable FMR-to-market-rent ratio, this area presents attractive investment opportunities for landlords and small-portfolio investors interested in Section 8 properties.
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.