Multnomah County/Portland/97214

97214

ZIPSAFMR

Multnomah County, OR

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ZIP Investment Score

58Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,770	$1,380	-3.8%
1 BR	$1,900	$1,900	-3.9%
2 BR	$2,180	$2,210	-3.7%
3 BR	$2,960	$2,940	-4.4%
4 BR	$3,560	$3,240	-3.2%
5 BR	$4,094	Not available	-3.2%
6 BR	$4,708	Not available	-3.2%
7 BR	$5,414	Not available	-3.2%
8 BR	$6,226	Not available	-3.2%

Purchase Price Calculator

Maximum purchase price

$266,489

Cost breakdown

+Likely effective rent$2,210

HUD FMR$2,180

Market rent$2,230

Est. payment standard (101%)Used$2,210

-Principal and interest-$1,348

Loan amount$213,191

Down payment$53,298

Rate6.50%

Term30 years

-Operating costs-$662

Property taxes-$266

Insurance-$175

Utilities$0

HOA$0

Management-$221

=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

+$35,329(66.3% ROI)

Projected value

$286,979

Return breakdown

Property appreciation+$20,490

Loan principal paid down+$7,638

Rental cash flow+$7,200

5-year hold

+$60,640(113.8% ROI)

Projected value

$301,507

Return breakdown

Property appreciation+$35,019

Loan principal paid down+$13,621

Rental cash flow+$12,000

10-year hold

+$131,095(246.0% ROI)

Projected value

$341,128

Return breakdown

Property appreciation+$74,639

Loan principal paid down+$32,456

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.28ratio

FMR$1,770

Market$1,380

vs market+$390

FMR is above market; underwrite to market rent.

1.28

1 BR

1.00ratio

FMR$1,900

Market$1,900

vs market+$0

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

1.00

2 BR

0.98ratio

FMR$2,180

Market$2,230

vs market-$50

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

0.98

3 BR

1.01ratio

FMR$2,960

Market$2,940

vs market+$20

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

1.01

4 BR

1.10ratio

FMR$3,560

Market$3,240

vs market+$320

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

1.10

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 97214 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97214 (Portland, OR) is $2,180 a month. That is down 5.2% from $2,300 in FY 2026. Portland 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 65 ZIP codes in Multnomah County, 97214 is tied for the 3rd-highest two-bedroom rent (county range $1,730–$2,250). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97214 is 65% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97214
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,880	$1,770	−5.9%	$1,593–$1,947
1BR	$2,010	$1,900	−5.5%	$1,710–$2,090
2BR	$2,300	$2,180	−5.2%	$1,962–$2,398
3BR	$3,130	$2,960	−5.4%	$2,664–$3,256
4BR	$3,720	$3,560	−4.3%	$3,204–$3,916

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97214
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,770	$1,900	$2,180	$2,960	$3,560
FY 2026	$1,880	$2,010	$2,300	$3,130	$3,720
FY 2025	$1,920	$2,070	$2,360	$3,240	$3,800
FY 2024	$1,990	$2,140	$2,440	$3,390	$3,920
FY 2023	$1,850	$1,990	$2,270	$3,180	$3,700

Two-bedroom rent in nearby Multnomah County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 97214
97208	$2,180	0.0%
97209	$2,180	0.0%
97210	$1,800	−17.4%
97211	$2,070	−5.0%
97212	$2,020	−7.3%
97213	$1,940	−11.0%
97214Current	$2,180	—
97215	$1,780	−18.3%
97216	$1,730	−20.6%
97217	$2,230	+2.3%
97218	$1,770	−18.8%
97219	$1,970	−9.6%

Questions about ZIP 97214 rents

How much will Section 8 pay for a two-bedroom in ZIP 97214?

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 $2,180 it would be $1,962 to $2,398. 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 97214 in?

ZIP 97214 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 97214 for FY 2027?

The two-bedroom FMR fell 5.2%, from $2,300 in FY 2026 to $2,180 in FY 2027. Since FY 2023 it has fallen 4.0%.

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