HUD Fair Market Rent · FY 2026 · effective Oct 1, 2025 to Sep 30, 2026
Fair Market Rent in Multnomah County, Oregon (FY 2026)
$1,922 a month. That's HUD's FY 2026 Fair Market Rent for a two-bedroom in Multnomah County, and it's the baseline every voucher in Multnomah is measured against.
2 bedroom FMR
$1,922
FY 2026, utilities included
Payment standard range
$1,730 to $2,114
90% to 110% of FMR
Income to afford 2BR
$76,880
per year, at 30% of income
Rank in Oregon
3rd of 36
by 2BR FMR
HUD has already published FY 2027. On October 1, 2026 the two-bedroom rate in Multnomah moves to $1,878. That's down 2%. The full FY 2027 table is in the history section below.
Market check
Two-bedrooms in Portland are asking $2,067. HUD says $1,922.
That's 8% above the county FMR. Median asking rent across 20 Portland ZIP codes with active 2BR listings. FMR includes utilities and asking rents usually don't, so the true gap is a little smaller.
Comps for a specific address
A rent estimate built from nearby listings, next to the HUD number.
FY 2026 Fair Market Rents
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2025 |
|---|---|---|---|---|---|
| Studio | $1,570 | $1,413 to $1,727 | $62,800 | $30.19/hr | -3.6% |
| 1 bedroom | $1,677 | $1,509 to $1,845 | $67,080 | $32.25/hr | -4.2% |
| 2 bedroom | $1,922 | $1,730 to $2,114 | $76,880 | $36.96/hr | -3.8% |
| 3 bedroom | $2,619 | $2,357 to $2,881 | $104,760 | $50.37/hr | -4.4% |
| 4 bedroom | $3,109 | $2,798 to $3,420 | $124,360 | $59.79/hr | -3.4% |
5 to 8 bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,575 | $3,218 to $3,933 |
| 6 bedroom Estimate | $4,042 | $3,638 to $4,446 |
| 7 bedroom Estimate | $4,508 | $4,057 to $4,959 |
| 8 bedroom Estimate | $4,974 | $4,477 to $5,471 |
Source: HUD Office of Policy Development and Research, FY 2026 Fair Market Rents. Rents include utilities. huduser.gov
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2026 that's October 1, 2025 through September 30, 2026. In Multnomah, that runs from $1,570 for a studio up to $3,109 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps Multnomah in with 6 other counties in the Portland-Vancouver-Hillsboro metro, Washington County, Clark County, Clackamas County among them, and every one of them gets $1,922 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among Oregon's 36 counties, Multnomah ranks 3rd for two-bedroom FMR. That's about 38% above the state median of $1,393 and about 89% above the national median county at $1,018. About 808,098 people live here, 1st in the state.
Counties sharing the Portland-Vancouver-Hillsboro metro rate
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,800 in 97024 (Fairview) and $2,330 in 97208 (Portland), with the 55 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 97010 | Bridal Veil | $1,870 | -2.7% |
| 97019 | Corbett | $2,170 | +12.9% |
| 97024 | Fairview | $1,800 | -6.3% |
| 97030 | Gresham | $1,930 | +0.4% |
| 97060 | Troutdale | $1,800 | -6.3% |
| 97080 | Gresham | $1,830 | -4.8% |
| 97086 | Happy Valley | $1,910 | -0.6% |
| 97201 | Portland | $2,280 | +18.6% |
| 97202 | Portland | $2,050 | +6.7% |
| 97203 | Portland | $1,850 | -3.7% |
| 97204 | Portland | $1,800 | -6.3% |
| 97205 | Portland | $1,800 | -6.3% |
| 97206 | Portland | $1,870 | -2.7% |
| 97207 | Portland | $1,870 | -2.7% |
| 97208 | Portland | $2,330 | +21.2% |
| 97209 | Portland | $2,330 | +21.2% |
| 97210 | Portland | $1,850 | -3.7% |
| 97211 | Portland | $2,180 | +13.4% |
| 97212 | Portland | $2,110 | +9.8% |
| 97213 | Portland | $2,020 | +5.1% |
| 97214 | Portland | $2,300 | +19.7% |
| 97215 | Portland | $1,820 | -5.3% |
| 97216 | Portland | $1,800 | -6.3% |
| 97217 | Portland | $2,320 | +20.7% |
| 97218 | Portland | $1,840 | -4.3% |
| 97219 | Portland | $2,050 | +6.7% |
| 97220 | Portland | $1,800 | -6.3% |
| 97221 | Portland | $1,960 | +2.0% |
| 97227 | Portland | $1,930 | +0.4% |
| 97228 | Portland | $1,870 | -2.7% |
| 97230 | Portland | $1,810 | -5.8% |
| 97231 | Portland | $1,800 | -6.3% |
| 97232 | Portland | $1,970 | +2.5% |
| 97233 | Portland | $1,800 | -6.3% |
| 97236 | Portland | $1,800 | -6.3% |
| 97238 | Portland | $1,870 | -2.7% |
| 97239 | Portland | $2,220 | +15.5% |
| 97240 | Portland | $1,870 | -2.7% |
| 97242 | Portland | $1,870 | -2.7% |
| 97250 | Portland | $1,870 | -2.7% |
What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Multnomah somewhere between $1,730 and $2,114. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$1,922 a month is affordable, by HUD's 30% rule, on an income of roughly $76,880 a year. Put another way, $37 an hour full time.
Worked example for a two-bedroom, assuming the rent equals the payment standard. Tenant pays 30% of monthly income, HUD's housing assistance payment covers the rest.
| Monthly household income | Tenant pays (30%) | HAP at 90% ($1,730) | HAP at 100% ($1,922) | HAP at 110% ($2,114) |
|---|---|---|---|---|
| $2,500 | $750 | $980 | $1,172 | $1,364 |
| $4,000 | $1,200 | $530 | $722 | $914 |
Rate history
The two-bedroom rate went down 4% from FY 2025 ($1,997) to FY 2026 ($1,922). Since FY 2020 it's up 29% in total, about 4.3% a year. The Oregon median moved up 11% over the same year.
| Year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $1,192 | $1,289 | $1,495 | $2,157 | $2,625 | — |
| FY 2021 | $1,245 | $1,331 | $1,536 | $2,193 | $2,657 | +2.7% |
| FY 2022 | $1,416 | $1,512 | $1,735 | $2,451 | $2,903 | +13.0% |
| FY 2023 | $1,500 | $1,610 | $1,839 | $2,574 | $2,995 | +6.0% |
| FY 2024 | $1,650 | $1,776 | $2,024 | $2,809 | $3,254 | +10.1% |
| FY 2025 | $1,628 | $1,750 | $1,997 | $2,739 | $3,217 | -1.3% |
| FY 2026 | $1,570 | $1,677 | $1,922 | $2,619 | $3,109 | -3.8% |
| FY 2027 | $1,527 | $1,633 | $1,878 | $2,550 | $3,069 | -2.3% |
Nearby counties
Clackamas County
$1,92214 mi · pop 420,925
Washington County
$1,92214 mi · pop 599,541
Columbia County
$1,92231 mi · pop 52,865
Yamhill County
$1,92235 mi · pop 107,674
Marion County
$1,56041 mi · pop 345,815
Hood River County
$1,88448 mi · pop 23,965
Polk County
$1,56053 mi · pop 87,600
Tillamook County
$1,40562 mi · pop 27,345
Questions people ask
$1,922 a month for FY 2026, which runs October 1, 2025 through September 30, 2026. The other rates are $1,570 for a studio, $1,677 for one bedroom, $2,619 for three and $3,109 for four.
Tools for this county
Fair Market Rent lookup
Look up any ZIP code's Small Area FMR by bedroom count.
Section 8 rent calculator
Work out the payment standard and tenant share for a specific rent.
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords.
Rent affordability calculator
See what income a household needs for a given rent.
What does a rental in Multnomah actually go for?
HUD's number is one input. Search any address in Multnomah for a rent estimate built from nearby comps. 3 free searches, no card.
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