Clackamas County/Gladstone/97027

97027

ZIPSAFMR

Clackamas County, OR

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ZIP Investment Score

80Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,550	$1,410	-3.4%
1 BR	$1,660	$1,550	-3.5%
2 BR	$1,910	$1,900	-3.3%
3 BR	$2,590	$2,710	-4.0%
4 BR	$3,120	$3,150	-2.7%
5 BR	$3,588	Not available	-2.7%
6 BR	$4,126	Not available	-2.7%
7 BR	$4,745	Not available	-2.7%
8 BR	$5,457	Not available	-2.7%

Purchase Price Calculator

Maximum purchase price

$220,423

Cost breakdown

+Likely effective rent$1,900

HUD FMR$1,910

Market rentUsed$1,900

Est. payment standard (100%)$1,900

-Principal and interest-$1,115

Loan amount$176,338

Down payment$44,085

Rate6.50%

Term30 years

-Operating costs-$585

Property taxes-$220

Insurance-$175

Utilities$0

HOA$0

Management-$190

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$30,466(69.1% ROI)

Projected value

$237,371

Return breakdown

Property appreciation+$16,948

Loan principal paid down+$6,318

Rental cash flow+$7,200

5-year hold

+$52,232(118.5% ROI)

Projected value

$249,388

Return breakdown

Property appreciation+$28,965

Loan principal paid down+$11,266

Rental cash flow+$12,000

10-year hold

+$112,583(255.4% ROI)

Projected value

$282,160

Return breakdown

Property appreciation+$61,737

Loan principal paid down+$26,846

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.10ratio

FMR$1,550

Market$1,410

vs market+$140

FMR is near market; voucher and private rents are aligned.

1.10

1 BR

1.07ratio

FMR$1,660

Market$1,550

vs market+$110

FMR is near market; voucher and private rents are aligned.

1.07

2 BR

1.01ratio

FMR$1,910

Market$1,900

vs market+$10

FMR is near market; voucher and private rents are aligned.

1.01

3 BR

0.94ratio

FMR$2,590

Market$2,770

vs market-$180

FMR is near market; voucher and private rents are aligned.

0.94

4 BR

0.99ratio

FMR$3,120

Market$3,160

vs market-$40

FMR is near market; voucher and private rents are aligned.

0.99

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 97027 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97027 (Gladstone, OR) is $1,910 a month. That is down 3.5% from $1,980 in FY 2026. Gladstone 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. Among 41 ZIP codes in Clackamas County, 97027 is tied for the 17th-highest two-bedroom rent (county range $1,700–$2,820). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97027 is 44% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97027
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,620	$1,550	−4.3%	$1,395–$1,705
1BR	$1,730	$1,660	−4.0%	$1,494–$1,826
2BR	$1,980	$1,910	−3.5%	$1,719–$2,101
3BR	$2,700	$2,590	−4.1%	$2,331–$2,849
4BR	$3,200	$3,120	−2.5%	$2,808–$3,432

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97027
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,550	$1,660	$1,910	$2,590	$3,120
FY 2026	$1,620	$1,730	$1,980	$2,700	$3,200
FY 2025	$1,680	$1,810	$2,060	$2,830	$3,320
FY 2024	$1,720	$1,850	$2,110	$2,930	$3,390
FY 2023	$1,550	$1,660	$1,900	$2,660	$3,090

Two-bedroom rent in nearby Clackamas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 97027
97015	$1,980	+3.7%
97017	$1,730	−9.4%
97019	$1,990	+4.2%
97022	$1,730	−9.4%
97023	$1,730	−9.4%
97027Current	$1,910	—
97028	$2,010	+5.2%
97032	$1,790	−6.3%
97034	$2,250	+17.8%
97035	$2,170	+13.6%
97036	$1,910	0.0%
97038	$1,750	−8.4%

Questions about ZIP 97027 rents

How much will Section 8 pay for a two-bedroom in ZIP 97027?

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 $1,910 it would be $1,719 to $2,101. 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 ZIP 97027 in?

ZIP 97027 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 ZIP 97027 for FY 2027?

The two-bedroom FMR fell 3.5%, from $1,980 in FY 2026 to $1,910 in FY 2027. Since FY 2023 it has risen 0.5%.

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

County fair market rent Gladstone, OR fair market rent OR statewide rents What is SAFMR?Data sources