FY2027 Small Area FMR · Portland, OR

ZIP 97294 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 97294 (Portland, OR) is $1,810 a month, down 3.2% from FY2026. That is 4% below the Portland-Vancouver-Hillsboro, OR-WA area-wide FMR of $1,878.

2-bedroom SAFMR$1,810per month ▼ 3.2%

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

Rank in the area82ndof 165 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,629

2 BR Small Area FMR$1,810

110% of SAFMR$1,991

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

Studio$1,470▼ 3.9%

1 BR$1,570▼ 3.7%

2 BR$1,810▼ 3.2%

3 BR$2,460▼ 3.5%

4 BR$2,960▼ 2.0%

FY2027 FY2026

Where 97294 sits in the Portland-Vancouver-Hillsboro, OR-WA area

Of the 165 ZIP codes HUD lists for the area, 97294 has the 82nd 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 $1,810 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	$1,470	$1,323 – $1,617	$1,527	$1,530
1 bedroom	$1,570	$1,413 – $1,727	$1,633	$1,630
2 bedrooms	$1,810	$1,629 – $1,991	$1,878	$1,870
3 bedrooms	$2,460	$2,214 – $2,706	$2,550	$2,550
4 bedrooms	$2,960	$2,664 – $3,256	$3,069	$3,020

A household renting a two-bedroom home at the Small Area FMR of $1,810 needs about $72,400 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 97294 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
97258	Portland	0.0 mi	$1,810
97204	Portland	0.4 mi	$1,730
97208	Portland	0.4 mi	$2,180
97209	Portland	0.6 mi	$2,180
97201	Portland	1.3 mi	$2,120
97227	Portland	1.4 mi	$1,830

Questions

What is the Fair Market Rent for ZIP code 97294?

HUD's FY2027 Small Area Fair Market Rents for 97294 are $1,470 (studio), $1,570 (1 BR), $1,810 (2 BR), $2,460 (3 BR) and $2,960 (4 BR) a month.

What is the Section 8 payment standard in 97294?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 97294 that range is $1,629 to $1,991 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 97294?

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.