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 | $1,630 |
| 1 Bedroom | $1,740 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,720 |
| 4 Bedrooms | $3,270 |
| 5 Bedrooms | $3,793 |
| 6 Bedrooms | $4,248 |
| 7 Bedrooms | $4,588 |
| 8 Bedrooms | $4,817 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,000 | $478,868 | 0.42% | F |
| 3BR | $2,720 | $522,301 | 0.52% | F |
| 4BR | $3,270 | $626,623 | 0.52% | F |
| 5BR | $3,793 | $735,265 | 0.52% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 98683 in Vancouver, WA, reveals a market that offers a balanced approach between yield and stability. The Fair Market Rent (FMR) for the area is set at $2020 for FY 2024, which is notably lower than the average market rent of $1,693. This discrepancy suggests a potential opportunity for landlords to undercut the market slightly while still maintaining a decent rental income.
However, the median home value in ZIP 98683 stands at $565,461, indicating that property acquisition costs are relatively high. Given the FMR and market rent figures, the yield from rental properties here is moderate. A landlord can expect to generate a monthly rental income that is approximately $673 below the FMR but still above the average rent, positioning this area as neither a high-yield nor a low-yield market.
On the stability front, ZIP 98683 boasts a substantial 43.1% of its residents as renters, ensuring a consistent demand for rental housing. Additionally, the average days on market (DOM) for rental listings is 13 days, suggesting a swift turnover rate once a property is listed. The median household income of $87,659 further supports the stability of the rental market, as it implies that tenants have the financial capacity to meet their rent obligations regularly.
Considering these factors, ZIP 98683 is best classified as a steady-cashflow zone rather than a high-yield/low-stability market. The combination of a reasonable rental yield and a stable tenant base makes it an attractive option for landlords and small-portfolio investors seeking reliable returns without the volatility associated with higher-risk investments.
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.