FY2027 Small Area FMR · Portland, OR

ZIP 97201 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97201 (Portland, OR) is $2,120 a month, down 7.0% from FY2026. That is 13% above the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$2,120per month ▼ 7.0%

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

Rank in the area17thof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,908

2 BR Small Area FMR$2,120

110% of SAFMR$2,332

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

Studio$1,720▼ 7.5%

1 BR$1,840▼ 7.5%

2 BR$2,120▼ 7.0%

3 BR$2,880▼ 7.4%

4 BR$3,460▼ 6.2%

FY2027 FY2026

Where 97201 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97201 has the 17th 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 $2,120 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	$1,720	$1,548 – $1,892	$1,527	$1,860
1 bedroom	$1,840	$1,656 – $2,024	$1,633	$1,990
2 bedrooms	$2,120	$1,908 – $2,332	$1,878	$2,280
3 bedrooms	$2,880	$2,592 – $3,168	$2,550	$3,110
4 bedrooms	$3,460	$3,114 – $3,806	$3,069	$3,690

A household renting a two-bedroom home at the Small Area FMR of $2,120 needs about $84,800 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 97201 lies mainly in Multnomah 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
97204	Portland	1.1 mi	$1,730
97239	Portland	1.2 mi	$2,160
97205	Portland	1.3 mi	$1,730
97258	Portland	1.3 mi	$1,810
97208	Portland	1.5 mi	$2,180
97209	Portland	1.6 mi	$2,180

Questions

What is the Fair Market Rent for ZIP code 97201?

HUD's FY2027 Small Area Fair Market Rents for 97201 are $1,720 (studio), $1,840 (1 BR), $2,120 (2 BR), $2,880 (3 BR) and $3,460 (4 BR) a month.

What is the Section 8 payment standard in 97201?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97201 that range is $1,908 to $2,332 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97201?

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.