HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Multnomah County, Oregon (FY 2027)
$1,878 a month. That's HUD's FY 2027 Fair Market Rent for a two-bedroom in Multnomah County, and it's the baseline every voucher in Multnomah is measured against.
Two-bedroom FMR
$1,878
-2.3% from FY 2026
Payment standard
$1,690–$2,066
90% to 110% of the FMR, two-bedroom
Income to afford
$75,120
a year, with rent at 30% of income
Rank in Oregon
5th of 36
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,527 | $1,374–$1,680 | $61,080 | $29.37/hr | -2.7% |
| 1 bedroom | $1,633 | $1,470–$1,796 | $65,320 | $31.40/hr | -2.6% |
| 2 bedroom | $1,878 | $1,690–$2,066 | $75,120 | $36.12/hr | -2.3% |
| 3 bedroom | $2,550 | $2,295–$2,805 | $102,000 | $49.04/hr | -2.6% |
| 4 bedroom | $3,069 | $2,762–$3,376 | $122,760 | $59.02/hr | -1.3% |
Five to eight 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 | $3,529 | $3,176–$3,882 |
| 6 bedroom Estimate | $3,990 | $3,591–$4,389 |
| 7 bedroom Estimate | $4,450 | $4,005–$4,895 |
| 8 bedroom Estimate | $4,910 | $4,419–$5,401 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
Two-bedrooms in Portland are asking $2,086. HUD says $1,878.
That's 11% 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.
No card needed
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 $1,690 and $2,066. 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.
$1,878 a month is affordable, by HUD's 30% rule, on an income of roughly $75,120 a year. Put another way, $36 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,690 | Voucher pays at 100%$1,878 | Voucher pays at 110%$2,066 |
|---|---|---|---|---|
| $2,500 | $750 | $940 | $1,128 | $1,316 |
| $4,000 | $1,200 | $490 | $678 | $866 |
Rate history
The two-bedroom rate went down 2% from FY 2026 ($1,922) to FY 2027 ($1,878). Since FY 2020 it's up 26% in total, about 3.3% a year. The Oregon median moved down 5% over the same year.
| Fiscal 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 2027In effect | $1,527 | $1,633 | $1,878 | $2,550 | $3,069 | -2.3% |
About this rate
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 2027 that's October 1, 2026 through September 30, 2027. In Multnomah, that runs from $1,527 for a studio up to $3,069 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 $1,878 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 5th for two-bedroom FMR. That's about 42% above the state median of $1,325 and about 77% above the national median county at $1,063. About 801,477 people live here, 1st in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,730 in 97024 (Fairview) and $2,230 in 97217 (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 | $1,810 | -3.6% |
| 97019 | Corbett | $1,990 | +6.0% |
| 97024 | Fairview | $1,730 | -7.9% |
| 97030 | Gresham | $1,880 | +0.1% |
| 97060 | Troutdale | $1,770 | -5.8% |
| 97080 | Gresham | $1,790 | -4.7% |
| 97086 | Happy Valley | $1,900 | +1.2% |
| 97201 | Portland | $2,120 | +12.9% |
| 97202 | Portland | $2,030 | +8.1% |
| 97203 | Portland | $1,800 | -4.2% |
| 97204 | Portland | $1,730 | -7.9% |
| 97205 | Portland | $1,730 | -7.9% |
| 97206 | Portland | $1,830 | -2.6% |
| 97207 | Portland | $1,810 | -3.6% |
| 97208 | Portland | $2,180 | +16.1% |
| 97209 | Portland | $2,180 | +16.1% |
| 97210 | Portland | $1,800 | -4.2% |
| 97211 | Portland | $2,070 | +10.2% |
| 97212 | Portland | $2,020 | +7.6% |
| 97213 | Portland | $1,940 | +3.3% |
| 97214 | Portland | $2,180 | +16.1% |
| 97215 | Portland | $1,780 | -5.2% |
| 97216 | Portland | $1,730 | -7.9% |
| 97217 | Portland | $2,230 | +18.7% |
| 97218 | Portland | $1,770 | -5.8% |
| 97219 | Portland | $1,970 | +4.9% |
| 97220 | Portland | $1,730 | -7.9% |
| 97221 | Portland | $1,910 | +1.7% |
| 97227 | Portland | $1,830 | -2.6% |
| 97228 | Portland | $1,810 | -3.6% |
| 97230 | Portland | $1,750 | -6.8% |
| 97231 | Portland | $1,960 | +4.4% |
| 97232 | Portland | $1,920 | +2.2% |
| 97233 | Portland | $1,730 | -7.9% |
| 97236 | Portland | $1,730 | -7.9% |
| 97238 | Portland | $1,810 | -3.6% |
| 97239 | Portland | $2,160 | +15.0% |
| 97240 | Portland | $1,810 | -3.6% |
| 97242 | Portland | $1,810 | -3.6% |
| 97250 | Portland | $1,810 | -3.6% |
Counties sharing the Portland-Vancouver-Hillsboro metro rate
HUD sets one rate for the whole metro, so every county here carries the same $1,878 two-bedroom figure as Multnomah.
Nearby counties
Two-bedroom FMR, with how each compares to Multnomah.
Clackamas County
14 mi · 423,975 people
$1,878
same rate
Washington County
14 mi · 603,947 people
$1,878
same rate
Columbia County
31 mi · 53,493 people
$1,878
same rate
Yamhill County
35 mi · 108,734 people
$1,878
same rate
Marion County
41 mi · 349,244 people
$1,692
-10%
Hood River County
48 mi · 23,905 people
$1,888
+1%
Polk County
53 mi · 89,662 people
$1,692
-10%
Tillamook County
62 mi · 27,496 people
$1,301
-31%
Questions people ask
$1,878 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,527 for a studio, $1,633 for one bedroom, $2,550 for three and $3,069 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
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
The 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. Free to start, no card.
Free tier. No credit card.