Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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Banks, OR fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Banks, OR is $1,820 a month. That is down 1.6% from $1,850 in FY 2026. Banks is in the Portland-Vancouver-Hillsboro, OR-WA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,878. The median county two-bedroom FMR in Oregon is $1,325, so Banks is 37% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Banks, OR
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,510
$1,480
−2.0%
$1,332–$1,628
1BR
$1,610
$1,580
−1.9%
$1,422–$1,738
2BR
$1,850
$1,820
−1.6%
$1,638–$2,002
3BR
$2,520
$2,470
−2.0%
$2,223–$2,717
4BR
$2,990
$2,970
−0.7%
$2,673–$3,267
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Banks, OR
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,480
$1,580
$1,820
$2,470
$2,970
FY 2026
$1,510
$1,610
$1,850
$2,520
$2,990
FY 2025
$1,570
$1,690
$1,930
$2,650
$3,110
FY 2024
$1,660
$1,780
$2,030
$2,820
$3,260
FY 2023
$1,570
$1,680
$1,920
$2,690
$3,130
Questions about Banks, OR rents
How much will Section 8 pay for a two-bedroom in Banks, OR?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,878, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,690 to $2,066 a month; under the ZIP-level Small Area FMR of $1,820 it would be $1,638 to $2,002. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Banks, OR in?
Banks, OR is in the Portland-Vancouver-Hillsboro, OR-WA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,878.
How much did fair market rent change in Banks, OR for FY 2027?
The two-bedroom FMR fell 1.6%, from $1,850 in FY 2026 to $1,820 in FY 2027. Since FY 2023 it has fallen 5.2%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set