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Washington County/Lake Oswego/97035

97035

ZIPSAFMR
Washington County, OR
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,760$1,830
1 BR$1,890$2,080
2 BR$2,170$2,370
3 BR$2,950$3,110
4 BR$3,550$3,670
5 BR$4,082Not available
6 BR$4,695Not available
7 BR$5,399Not available
8 BR$6,209Not available

Purchase Price Calculator

Maximum purchase price
$290,265

Cost breakdown

+Likely effective rent$2,370
HUD FMR$2,170
Market rent$2,480
Est. payment standard (109%)Used$2,370
-Principal and interest-$1,468
Loan amount$232,212
Down payment$58,053
Rate6.50%
Term30 years
-Operating costs-$702
Property taxes-$290
Insurance-$175
Utilities$0
HOA$0
Management-$237
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,838(65.2% ROI)
Projected value
$312,583
Return breakdown
Property appreciation+$22,319
Loan principal paid down+$8,320
Rental cash flow+$7,200
5-year hold
+$64,979(111.9% ROI)
Projected value
$328,408
Return breakdown
Property appreciation+$38,143
Loan principal paid down+$14,836
Rental cash flow+$12,000
10-year hold
+$140,650(242.3% ROI)
Projected value
$371,563
Return breakdown
Property appreciation+$81,299
Loan principal paid down+$35,352
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.85
2 BR
0.88
3 BR
0.92
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 97035 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97035 (Lake Oswego, OR) is $2,170 a month. That is down 4.8% from $2,280 in FY 2026. Lake Oswego 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 36 ZIP codes in Washington County, 97035 has the 3rd-highest two-bedroom rent (county range $1,730–$2,340). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97035 is 64% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97035
BedroomsFY 2027Change90–110% range
Studio$1,760−5.4%$1,584–$1,936
1BR$1,890−5.0%$1,701–$2,079
2BR$2,170−4.8%$1,953–$2,387
3BR$2,950−5.1%$2,655–$3,245
4BR$3,550−3.8%$3,195–$3,905

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97035
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,760$1,890$2,170$2,950$3,550
FY 2026$1,860$1,990$2,280$3,110$3,690
FY 2025$1,970$2,120$2,420$3,320$3,900
FY 2024$2,020$2,180$2,480$3,440$3,990
FY 2023$1,830$1,960$2,240$3,140$3,650

Two-bedroom rent in nearby Washington County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97035
97003$2,130−1.8%
97005$1,860−14.3%
97006$2,140−1.4%
97007$2,010−7.4%
97008$1,830−15.7%
97035Current$2,170—
97056$1,870−13.8%
97062$1,940−10.6%
97064$1,730−20.3%
97070$2,090−3.7%
97075$1,990−8.3%
97078$2,070−4.6%

Questions about ZIP 97035 rents

How much will Section 8 pay for a two-bedroom in ZIP 97035?

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 $2,170 it would be $1,953 to $2,387. 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 97035 in?

ZIP 97035 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 97035 for FY 2027?

The two-bedroom FMR fell 4.8%, from $2,280 in FY 2026 to $2,170 in FY 2027. Since FY 2023 it has fallen 3.1%.

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 rentLake Oswego, OR fair market rentOR statewide rentsWhat is SAFMR?Data sources