FMR is near market; voucher and private rents are aligned.
0.98
2 BR
2 BR
0.97ratio
FMR$1,878
Market$1,930
vs market-$52
FMR is near market; voucher and private rents are aligned.
0.97
3 BR
3 BR
1.06ratio
FMR$2,550
Market$2,400
vs market+$150
FMR is near market; voucher and private rents are aligned.
1.06
4 BR
4 BR
1.10ratio
FMR$3,069
Market$2,800
vs market+$269
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
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Tax rate
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Mortgage rate
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ZIP 97291 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 97291 (Portland, OR) is $1,878 a month. That is down 2.3% from $1,922 in FY 2026. Portland is in the Portland-Vancouver-Hillsboro, OR-WA MSA. The median county two-bedroom FMR in Oregon is $1,325, so ZIP 97291 is 42% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 97291
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,570
$1,527
−2.7%
$1,374–$1,680
1BR
$1,677
$1,633
−2.6%
$1,470–$1,796
2BR
$1,922
$1,878
−2.3%
$1,690–$2,066
3BR
$2,619
$2,550
−2.6%
$2,295–$2,805
4BR
$3,109
$3,069
−1.3%
$2,762–$3,376
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 97291
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,527
$1,633
$1,878
$2,550
$3,069
FY 2026
$1,570
$1,677
$1,922
$2,619
$3,109
FY 2025
$1,628
$1,750
$1,997
$2,739
$3,217
FY 2024
$1,650
$1,776
$2,024
$2,809
$3,254
FY 2023SAFMR
$1,580
$1,700
$1,940
$2,720
$3,160
Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.
Questions about ZIP 97291 rents
How much will Section 8 pay for a two-bedroom in ZIP 97291?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,878, that basic range is $1,690 to $2,066 a month. 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 97291 in?
ZIP 97291 is in the Portland-Vancouver-Hillsboro, OR-WA MSA. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 97291 for FY 2027?
The two-bedroom FMR fell 2.3%, from $1,922 in FY 2026 to $1,878 in FY 2027. Since FY 2024 it has fallen 7.2%.
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 Fair Market Rents. 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