FY2027 Small Area FMR · Hillsboro, OR

ZIP 97123 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97123 (Hillsboro, OR) is $1,980 a month, unchanged from FY2026. That is 5% above the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$1,980per month ■ 0.0%

Area-wide 2 BR FMR$1,878Portland-Vancouver-Hillsboro

Rank in the area40thof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,782

2 BR Small Area FMR$1,980

110% of SAFMR$2,178

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,610▼ 0.6%

1 BR$1,720▼ 0.6%

2 BR$1,980■ 0.0%

3 BR$2,690▼ 0.4%

4 BR$3,240▲ 1.2%

FY2027 FY2026

Where 97123 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97123 has the 40th highest two-bedroom Small Area FMR. Portland-Vancouver-Hillsboro, OR-WA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,878 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,980 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,610	$1,449 – $1,771	$1,527	$1,620
1 bedroom	$1,720	$1,548 – $1,892	$1,633	$1,730
2 bedrooms	$1,980	$1,782 – $2,178	$1,878	$1,980
3 bedrooms	$2,690	$2,421 – $2,959	$2,550	$2,700
4 bedrooms	$3,240	$2,916 – $3,564	$3,069	$3,200

A household renting a two-bedroom home at the Small Area FMR of $1,980 needs about $79,200 a year to keep housing costs at 30% of income. The area median family income is $128,300 and the 80% low-income limit for four people is $102,650. ZIP code 97123 lies mainly in Washington County and Yamhill County. See the Portland-Vancouver-Hillsboro, OR-WA metro page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
97007	Beaverton	5.0 mi	$2,010
97113	Cornelius	5.0 mi	$1,730
97006	Beaverton	7.9 mi	$2,140
97003	Beaverton	8.0 mi	$2,130
97132	Newberg	8.0 mi	$1,760
97140	Sherwood	8.2 mi	$2,340

Questions

What is the Fair Market Rent for ZIP code 97123?

HUD's FY2027 Small Area Fair Market Rents for 97123 are $1,610 (studio), $1,720 (1 BR), $1,980 (2 BR), $2,690 (3 BR) and $3,240 (4 BR) a month.

What is the Section 8 payment standard in 97123?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97123 that range is $1,782 to $2,178 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97123?

The FY2026 income limits of the Portland-Vancouver-Hillsboro, OR-WA area apply: median family income $128,300, low-income (80%) limit $102,650 for a family of four.