FY2027 Small Area FMR · Sherwood, OR

ZIP 97140 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97140 (Sherwood, OR) is $2,340 a month, down 3.3% from FY2026. That is 25% above the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$2,340per month ▼ 3.3%

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

Rank in the area2ndof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$2,106

2 BR Small Area FMR$2,340

110% of SAFMR$2,574

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

Studio$1,900▼ 4.0%

1 BR$2,030▼ 3.8%

2 BR$2,340▼ 3.3%

3 BR$3,180▼ 3.6%

4 BR$3,820▼ 2.3%

FY2027 FY2026

Where 97140 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97140 has the 2nd 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 $2,340 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	$1,900	$1,710 – $2,090	$1,527	$1,980
1 bedroom	$2,030	$1,827 – $2,233	$1,633	$2,110
2 bedrooms	$2,340	$2,106 – $2,574	$1,878	$2,420
3 bedrooms	$3,180	$2,862 – $3,498	$2,550	$3,300
4 bedrooms	$3,820	$3,438 – $4,202	$3,069	$3,910

A household renting a two-bedroom home at the Small Area FMR of $2,340 needs about $93,600 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 97140 lies mainly in Washington County, Clackamas 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
97224	Portland	5.0 mi	$1,890
97062	Tualatin	5.1 mi	$1,940
97070	Wilsonville	5.6 mi	$2,090
97132	Newberg	6.2 mi	$1,760
97007	Beaverton	7.0 mi	$2,010
97223	Portland	7.4 mi	$1,970

Questions

What is the Fair Market Rent for ZIP code 97140?

HUD's FY2027 Small Area Fair Market Rents for 97140 are $1,900 (studio), $2,030 (1 BR), $2,340 (2 BR), $3,180 (3 BR) and $3,820 (4 BR) a month.

What is the Section 8 payment standard in 97140?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97140 that range is $2,106 to $2,574 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97140?

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.