Multnomah County/Portland/97230

97230

ZIPSAFMR

Multnomah County, OR

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ZIP Investment Score

73Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,420	$1,210	-1.6%
1 BR	$1,520	$1,450	-1.9%
2 BR	$1,750	$1,720	-1.5%
3 BR	$2,380	$2,290	-2.1%
4 BR	$2,860	$2,780	-0.9%
5 BR	$3,289	Not available	-0.9%
6 BR	$3,782	Not available	-0.9%
7 BR	$4,350	Not available	-0.9%
8 BR	$5,002	Not available	-0.9%

Purchase Price Calculator

Maximum purchase price

$193,675

Cost breakdown

+Likely effective rent$1,720

HUD FMR$1,750

Market rentUsed$1,720

Est. payment standard (99%)$1,730

-Principal and interest-$979

Loan amount$154,940

Down payment$38,735

Rate6.50%

Term30 years

-Operating costs-$541

Property taxes-$194

Insurance-$175

Utilities$0

HOA$0

Management-$172

=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

+$27,643(71.4% ROI)

Projected value

$208,567

Return breakdown

Property appreciation+$14,892

Loan principal paid down+$5,551

Rental cash flow+$7,200

5-year hold

+$47,350(122.2% ROI)

Projected value

$219,125

Return breakdown

Property appreciation+$25,450

Loan principal paid down+$9,899

Rental cash flow+$12,000

10-year hold

+$101,833(262.9% ROI)

Projected value

$247,920

Return breakdown

Property appreciation+$54,245

Loan principal paid down+$23,588

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.17ratio

FMR$1,420

Market$1,210

vs market+$210

FMR is above market; underwrite to market rent.

1.17

1 BR

1.05ratio

FMR$1,520

Market$1,450

vs market+$70

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

1.05

2 BR

1.02ratio

FMR$1,750

Market$1,720

vs market+$30

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

1.02

3 BR

1.04ratio

FMR$2,380

Market$2,290

vs market+$90

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

1.04

4 BR

1.03ratio

FMR$2,860

Market$2,780

vs market+$80

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

1.03

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 97230 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 97230 (Portland, OR) is $1,750 a month. That is down 3.3% from $1,810 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, 97230 has the 58th-highest two-bedroom rent (county range $1,730–$2,250). The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97230 is 32% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 97230
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,480	$1,420	−4.1%	$1,278–$1,562
1BR	$1,580	$1,520	−3.8%	$1,368–$1,672
2BR	$1,810	$1,750	−3.3%	$1,575–$1,925
3BR	$2,470	$2,380	−3.6%	$2,142–$2,618
4BR	$2,930	$2,860	−2.4%	$2,574–$3,146

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 97230
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,420	$1,520	$1,750	$2,380	$2,860
FY 2026	$1,480	$1,580	$1,810	$2,470	$2,930
FY 2025	$1,490	$1,600	$1,830	$2,530	$2,930
FY 2024	$1,490	$1,610	$1,830	$2,540	$2,940
FY 2023	$1,380	$1,480	$1,690	$2,370	$2,750

Two-bedroom rent in nearby Multnomah County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 97230
97222	$1,790	+2.3%
97223	$1,970	+12.6%
97225	$1,910	+9.1%
97227	$1,830	+4.6%
97228	$1,810	+3.4%
97229	$2,100	+20.0%
97230Current	$1,750	—
97231	$1,960	+12.0%
97232	$1,920	+9.7%
97233	$1,730	−1.1%
97236	$1,730	−1.1%
97238	$1,810	+3.4%

Questions about ZIP 97230 rents

How much will Section 8 pay for a two-bedroom in ZIP 97230?

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 $1,750 it would be $1,575 to $1,925. 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 97230 in?

ZIP 97230 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 97230 for FY 2027?

The two-bedroom FMR fell 3.3%, from $1,810 in FY 2026 to $1,750 in FY 2027. Since FY 2023 it has risen 3.6%.

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