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Clackamas County/Happy Valley/97086

97086

ZIPSAFMR
Clackamas County, OR
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,540$1,690
1 BR$1,650$1,740
2 BR$1,900$2,090
3 BR$2,580$2,660
4 BR$3,100$3,200
5 BR$3,565Not available
6 BR$4,100Not available
7 BR$4,715Not available
8 BR$5,422Not available

Purchase Price Calculator

Maximum purchase price
$248,657

Cost breakdown

+Likely effective rent$2,090
HUD FMR$1,900
Market rent$2,310
Est. payment standard (110%)Used$2,090
-Principal and interest-$1,257
Loan amount$198,925
Down payment$49,731
Rate6.50%
Term30 years
-Operating costs-$633
Property taxes-$249
Insurance-$175
Utilities$0
HOA$0
Management-$209
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,446(67.3% ROI)
Projected value
$267,776
Return breakdown
Property appreciation+$19,119
Loan principal paid down+$7,127
Rental cash flow+$7,200
5-year hold
+$57,385(115.4% ROI)
Projected value
$281,332
Return breakdown
Property appreciation+$32,676
Loan principal paid down+$12,709
Rental cash flow+$12,000
10-year hold
+$123,929(249.2% ROI)
Projected value
$318,302
Return breakdown
Property appreciation+$69,645
Loan principal paid down+$30,284
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.87
1 BR
0.92
2 BR
0.82
3 BR
0.95
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 97086 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97086 (Happy Valley, OR) is $1,900 a month. That is down 0.5% from $1,910 in FY 2026. Happy Valley 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, 97086 has the 22nd-highest two-bedroom rent (county range $1,700–$2,820). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97086 is 43% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97086
BedroomsFY 2027Change90–110% range
Studio$1,540−1.3%$1,386–$1,694
1BR$1,650−1.2%$1,485–$1,815
2BR$1,900−0.5%$1,710–$2,090
3BR$2,580−0.8%$2,322–$2,838
4BR$3,100+0.3%$2,790–$3,410

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97086
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,540$1,650$1,900$2,580$3,100
FY 2026$1,560$1,670$1,910$2,600$3,090
FY 2025$1,610$1,730$1,980$2,720$3,190
FY 2024$1,660$1,780$2,030$2,820$3,260
FY 2023$1,530$1,650$1,880$2,630$3,060

Two-bedroom rent in nearby Clackamas County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97086
97042$1,830−3.7%
97045$1,890−0.5%
97049$2,120+11.6%
97055$1,930+1.6%
97062$1,940+2.1%
97067$1,780−6.3%
97068$2,270+19.5%
97070$2,090+10.0%
97071$1,750−7.9%
97080$1,790−5.8%
97086Current$1,900—
97089$2,820+48.4%

Questions about ZIP 97086 rents

How much will Section 8 pay for a two-bedroom in ZIP 97086?

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 $1,900 it would be $1,710 to $2,090. 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 97086 in?

ZIP 97086 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 97086 for FY 2027?

The two-bedroom FMR fell 0.5%, from $1,910 in FY 2026 to $1,900 in FY 2027. Since FY 2023 it has risen 1.1%.

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 rentHappy Valley, OR fair market rentOR statewide rentsWhat is SAFMR?Data sources