FY2027 Small Area FMR · Portland, OR

ZIP 97227 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97227 (Portland, OR) is $1,830 a month, down 5.2% from FY2026. That is 3% below the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$1,830per month ▼ 5.2%

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

Rank in the area74thof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,647

2 BR Small Area FMR$1,830

110% of SAFMR$2,013

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

Studio$1,490▼ 5.7%

1 BR$1,590▼ 5.4%

2 BR$1,830▼ 5.2%

3 BR$2,480▼ 5.7%

4 BR$2,990▼ 4.2%

FY2027 FY2026

Where 97227 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97227 has the 74th 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 $1,830 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	$1,490	$1,341 – $1,639	$1,527	$1,580
1 bedroom	$1,590	$1,431 – $1,749	$1,633	$1,680
2 bedrooms	$1,830	$1,647 – $2,013	$1,878	$1,930
3 bedrooms	$2,480	$2,232 – $2,728	$2,550	$2,630
4 bedrooms	$2,990	$2,691 – $3,289	$3,069	$3,120

A household renting a two-bedroom home at the Small Area FMR of $1,830 needs about $73,200 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 97227 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
97209	Portland	0.9 mi	$2,180
97208	Portland	1.0 mi	$2,180
97258	Portland	1.4 mi	$1,810
97212	Portland	1.7 mi	$2,020
97204	Portland	1.7 mi	$1,730
97232	Portland	1.9 mi	$1,920

Questions

What is the Fair Market Rent for ZIP code 97227?

HUD's FY2027 Small Area Fair Market Rents for 97227 are $1,490 (studio), $1,590 (1 BR), $1,830 (2 BR), $2,480 (3 BR) and $2,990 (4 BR) a month.

What is the Section 8 payment standard in 97227?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97227 that range is $1,647 to $2,013 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97227?

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.