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 | $1,660 |
| 1 Bedroom | $1,770 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,770 |
| 4 Bedrooms | $3,330 |
| 5 Bedrooms | $3,863 |
| 6 Bedrooms | $4,327 |
| 7 Bedrooms | $4,673 |
| 8 Bedrooms | $4,907 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,770 | $203,300 | 0.87% | C |
| 2BR | $2,040 | $341,498 | 0.6% | F |
| 3BR | $2,770 | $542,811 | 0.51% | F |
| 4BR | $3,330 | $679,314 | 0.49% | F |
| 5BR | $3,863 | $774,185 | 0.5% | F |
U.S. Census Bureau data (2024)
2180 In ZIP code 98686, the Fair Market Rent (FMR) for fiscal year 2024 stands at $2180, offering a benchmark for rental properties. 231 Additionally, only 23.1% of residents in Vancouver, WA are renters, indicating a lower demand compared to some other markets. 590599 The median home value in the area is $590,599, reflecting the overall housing market's strength. 107801 With a median income of $107,801, tenants have the financial capability to afford higher rents, but the competition from homeownership remains strong. 17 The average days on market (DOM) is 17 days, suggesting a relatively quick turnover for listings. 2 Moreover, only 0.2% of homes are listed with price cuts, which is a positive sign for maintaining property values. 2173 Against the backdrop of these figures, the actual market rent, known as ZORI, is $2,173, nearly matching the FMR. This parity indicates a well-calibrated rental market, where Section 8 vouchers can effectively cover the cost of renting without significant subsidy gaps.
However, the low renter share and high median home value suggest that landlords and small-portfolio investors should carefully consider the local dynamics. While the median income supports robust rental payments, the limited number of renters means that finding eligible Section 8 participants could be challenging. Furthermore, the quick DOM and low price-cut share indicate a competitive environment for both rentals and sales, which might pressure landlords to maintain high standards to attract tenants.
The verdict on Section 8 participation in ZIP 98686 is cautiously optimistic. Landlords can expect fair returns, but they must be prepared to navigate a market where competition is fierce and the pool of eligible renters is smaller than in areas with a higher renter share.
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.