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 | $1,480 |
| 1 Bedroom | $1,580 |
| 2 Bedrooms | $1,820 |
| 3 Bedrooms | $2,470 |
| 4 Bedrooms | $2,970 |
| 5 Bedrooms | $3,445 |
| 6 Bedrooms | $3,858 |
| 7 Bedrooms | $4,167 |
| 8 Bedrooms | $4,375 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,580 | $236,872 | 0.67% | D |
| 2BR | $1,820 | $340,226 | 0.53% | F |
| 3BR | $2,470 | $465,337 | 0.53% | F |
| 4BR | $2,970 | $596,093 | 0.5% | F |
| 5BR | $3,445 | $756,835 | 0.46% | F |
U.S. Census Bureau data (2024)
The ZIP code 98664 in Vancouver, WA, presents a market in motion, characterized by the interplay between rental and ownership dynamics. The Fair Market Rent (FMR) for the area, set at $1940 for fiscal year 2024, stands slightly above the Zillow Observed Rent Index (ZORI) figure of $1,647, indicating that the rental market is approaching but not yet surpassing the benchmark for affordability. This suggests a market where demand for rental properties is robust, though not overwhelming.
A 0.3% price-cut share signals that property owners are largely maintaining their asking prices, which can be interpreted as a market where sellers are confident in their valuations. The Days on Market (DOM) statistic of 13 days further supports this notion, showing that homes are moving quickly once they hit the market. Combined with a median home value of $476,909, these factors suggest that the Vancouver housing market is currently experiencing a balance where demand meets supply, albeit with a slight tilt towards favoring sellers.
The 37.3% renter share reveals a significant portion of the population that relies on rental housing, which has implications for long-term housing pressure. In areas with high renter shares, there is often an underlying tension due to limited homeownership opportunities, potentially leading to increased competition for rental units and upward pressure on rents over time. This dynamic underscores the importance of rental properties in the Vancouver market and highlights the ongoing need for affordable housing solutions.
In summary, ZIP 98664 exhibits characteristics of a market where demand is strong enough to support quick sales and stable prices, without necessarily outpacing supply. The substantial renter share points to enduring pressure on the rental sector, influencing the overall housing landscape in Vancouver, WA.
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.