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Washington County/Banks/97106

97106

ZIPSAFMR
Washington County, OR
Zillow

ZIP Investment Score

55Below average

095130300
BRFMR
Eff. Rent
0 BR$1,480$1,480
1 BR$1,580$1,580
2 BR$1,820$1,820
3 BR$2,470$2,470
4 BR$2,970$2,970
5 BR$3,415Not available
6 BR$3,928Not available
7 BR$4,517Not available
8 BR$5,195Not available

Purchase Price Calculator

Maximum purchase price
$208,535

Cost breakdown

+Likely effective rent$1,820
HUD FMRUsed$1,820
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,054
Loan amount$166,828
Down payment$41,707
Rate6.50%
Term30 years
-Operating costs-$566
Property taxes-$209
Insurance-$175
Utilities$0
HOA$0
Management-$182
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,211(70.0% ROI)
Projected value
$224,569
Return breakdown
Property appreciation+$16,034
Loan principal paid down+$5,977
Rental cash flow+$7,200
5-year hold
+$50,062(120.0% ROI)
Projected value
$235,938
Return breakdown
Property appreciation+$27,403
Loan principal paid down+$10,659
Rental cash flow+$12,000
10-year hold
+$107,805(258.5% ROI)
Projected value
$266,942
Return breakdown
Property appreciation+$58,407
Loan principal paid down+$25,398
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 97106 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97106 (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. Among 36 ZIP codes in Washington County, 97106 has the 27th-highest two-bedroom rent (county range $1,730–$2,340). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97106 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97106
BedroomsFY 2027Change90–110% range
Studio$1,480−2.0%$1,332–$1,628
1BR$1,580−1.9%$1,422–$1,738
2BR$1,820−1.6%$1,638–$2,002
3BR$2,470−2.0%$2,223–$2,717
4BR$2,970−0.7%$2,673–$3,267

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97106
Fiscal yearStudio1BR2BR3BR4BR
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

Two-bedroom rent in nearby Washington County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 97106
97106Current$1,820—
97109$1,790−1.6%
97113$1,730−4.9%
97116$1,730−4.9%
97117$1,730−4.9%
97119$1,730−4.9%
97123$1,980+8.8%
97124$2,180+19.8%
97125$1,730−4.9%
97129$1,990+9.3%
97132$1,760−3.3%
97133$2,080+14.3%

Questions about ZIP 97106 rents

How much will Section 8 pay for a two-bedroom in ZIP 97106?

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 ZIP 97106 in?

ZIP 97106 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 97106 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

County fair market rentBanks, OR fair market rentOR statewide rentsWhat is SAFMR?Data sources