Median rents, rental comps, and market trends across 15 zip codes in Portland, OR.
Oregon has statewide rent control — that's not a suggestion, it's the law. There's a hard cap on annual rent increases, and understanding it is non-negotiable if you own here. Your tenants definitely know the number.
Median Asking Rent
$1,608
Rent Change (YoY)
-10.8%
Avg Days on Market
32
Active Rental Listings
3,691
Median List Price
$499,000
Average across 15 zip codes
ZIP | Median Rent |
|---|---|
| 97211 | $2,195/mo |
| 97209 | $1,737/mo |
| 97212 | $1,695/mo |
| 97217 | $1,648/mo |
| 97202 | $1,595/mo |
| 97232 | $1,595/mo |
| 97201 | $1,553/mo |
| 97203 | $1,550/mo |
| 97215 | $1,550/mo |
| 97236 | $1,550/mo |
| 97219 | $1,530/mo |
| 97213 | $1,525/mo |
| 97206 | $1,515/mo |
| 97214 | $1,495/mo |
| 97210 | $1,395/mo |
Get rental comps for any property in Portland
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,212/mo |
| 1 Bedroom | $1,399/mo |
| 2 Bedroom | $1,899/mo |
| 3 Bedroom | $2,895/mo |
| 4 Bedroom | $3,098/mo |
Aggregated median across all Portland zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 97212 | $799,900 |
| 97214 | $699,000 |
| 97215 | $659,000 |
| 97219 | $599,888 |
| 97211 | $550,000 |
| 97202 | $549,000 |
| 97210 | $548,000 |
| 97213 | $499,000 |
| 97206 | $449,900 |
| 97217 | $449,000 |
| 97203 | $425,000 |
| 97209 | $399,000 |
| 97236 | $398,500 |
| 97201 | $365,000 |
| 97232 | $330,000 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,860/mo |
| 1 Bedroom | $1,990/mo |
| 2 Bedroom | $2,280/mo |
| 3 Bedroom | $3,110/mo |
| 4 Bedroom | $3,690/mo |
Fair Market Rents are published annually by HUD for the Portland metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Portland, OR is currently $1,608/month, based on active rental listings across 15 zip codes. Median asking rents have decreased by -10.8% over the past 12 months.
Asking rents vary significantly across the city. ZIP 97211 has the highest median asking rent at $2,195/month, while ZIP 97210 comes in at $1,395/month.
Rental listings in the area spend an average of 32 days on market before being leased.
The HUD Fair Market Rent for a 2-bedroom in the Portland metro area is $2,280/month. Current median asking rents are near or below the FMR for this area.
Portland is a solid rental market with good demand from tech, healthcare, and the creative industry. But the defining feature for landlords is that Oregon passed statewide rent control in 2019 — there's a cap on how much you can raise rent annually. You need to know exactly what that cap is and how it applies to your property before you set rent. The Pearl District, Alberta, and Hawthorne are premium areas. East Portland and Gresham are more affordable. Portland also went through a rough patch with downtown vacancy and livability issues that got a lot of media attention. The market has been recovering, but it's worth understanding the neighborhood dynamics before investing. Overall, the numbers can work here — you just have to be more careful about the regulatory side than in most markets.
Want to look up rental comps and rent estimates for a specific property in Portland? PropMetrics lets you search any address and get detailed rental data instantly.
Get rent estimates, comparable rentals, and market data for any property in Portland, OR. Free to start.
What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.