Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,730 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,360 | $480,517 | 0.49% | F |
U.S. Census Bureau data (2024)
37.3% of residents in ZIP 98639 are renters, indicating a significant demand for rental properties. The $1660 Fair Market Rent (FMR) for the area, as set for fiscal year 2024, provides a benchmark for rental pricing that aligns with government subsidies. In comparison, the Census ACS reports a $1,043 market rent, suggesting that properties priced at or near the FMR could attract subsidized tenants. The median home value stands at $477,667, reflecting a stable housing market where investments in real estate can be expected to hold their value. With a median income of $100,417, residents have the financial capacity to afford higher rents and mortgage payments, which supports the potential profitability of rental properties. However, due to the lack of specific data on days on market (DOM) and the percentage of price-cut shares, it's challenging to assess the speed of property sales and the frequency of price reductions in the area. Despite these unknowns, the disparity between the FMR and market rent suggests an opportunity for landlords and small-portfolio investors to capitalize on the subsidy program. The Section 8 verdict for ZIP 98639 is positive, given the high renter share and favorable income levels that support the viability of participating in the Section 8 housing choice voucher program.
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.