FY2027 Small Area FMR · Portland, OR

ZIP 97229 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97229 (Portland, OR) is $2,100 a month, down 2.3% from FY2026. That is 12% above the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$2,100per month ▼ 2.3%

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

Rank in the area20thof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,890

2 BR Small Area FMR$2,100

110% of SAFMR$2,310

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

Studio$1,710▼ 2.8%

1 BR$1,830▼ 2.7%

2 BR$2,100▼ 2.3%

3 BR$2,850▼ 2.7%

4 BR$3,430▼ 1.4%

FY2027 FY2026

Where 97229 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97229 has the 20th 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 $2,100 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	$1,710	$1,539 – $1,881	$1,527	$1,760
1 bedroom	$1,830	$1,647 – $2,013	$1,633	$1,880
2 bedrooms	$2,100	$1,890 – $2,310	$1,878	$2,150
3 bedrooms	$2,850	$2,565 – $3,135	$2,550	$2,930
4 bedrooms	$3,430	$3,087 – $3,773	$3,069	$3,480

A household renting a two-bedroom home at the Small Area FMR of $2,100 needs about $84,000 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 97229 lies mainly in Washington County and 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
97003	Beaverton	3.3 mi	$2,130
97006	Beaverton	3.4 mi	$2,140
97225	Portland	3.8 mi	$1,910
97210	Portland	4.0 mi	$1,800
97005	Beaverton	4.2 mi	$1,860
97203	Portland	5.0 mi	$1,800

Questions

What is the Fair Market Rent for ZIP code 97229?

HUD's FY2027 Small Area Fair Market Rents for 97229 are $1,710 (studio), $1,830 (1 BR), $2,100 (2 BR), $2,850 (3 BR) and $3,430 (4 BR) a month.

What is the Section 8 payment standard in 97229?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97229 that range is $1,890 to $2,310 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97229?

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.