How much does it cost to rent in Happy Valley, OR?

As of July 2026, the median monthly rent in Happy Valley, OR is $1,833. This figure is based on aggregated data from public sources and community-submitted rents.

Is Happy Valley cheaper than other Oregon cities?

Happy Valley is one of the pricier cities in Oregon, ranking #20 out of 65 cities tracked at $1,833/mo.

When was Happy Valley rent data last updated?

Happy Valley rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · OR

Happy Valley

Name: Average Rent Prices in Happy Valley, OR
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 26,738·20th most expensive in Oregon·Rental market data updated monthly for Happy Valley, OR

Median rent (all units)

$1,833/mo

Year-over-Year

-1.9%

Month-over-Month

+3.4%

vs US Median

-$132

Rising (Monthly)

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Most AffordableMost Expensive

Happy Valley · $1,833

More affordable than 52% of US cities · National median $1,965/mo

Rent Reality Score

71/100

Good value

OverheatedFairGreat value

Rents are 11% below what Happy Valley's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$1,833/mo

Expected by trend

$2,051/mo

The Rent Reality Score compares today's median rent to where Happy Valley's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$1,610

1 BR

$1,730

2 BR

$1,980

3 BR

$2,720

4 BR+

$3,190

Research median

$1,980/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost

$21,996/yr

At $1,833/mo median

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (-1.9% YoY, +3.4% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Happy Valley, OR is majority owner-occupied, has a large share of families with children, has a median income above the national average, 46.4% of residents hold a bachelor's degree or higher.

Population

26,738

Median income

$122,151

Median age

Renters

21.1%

Age distribution

26.7%

18.7%

29.3%

15.8%

Under 1826.7%

18–3418.7%

35–5429.3%

55–649.5%

65+15.8%

Gender

48.2%

51.8%

Male48.2%

Female51.8%

Race & ethnicity

64.3%

16.3%

White64.3%

Black2.7%

Hispanic8.6%

Asian16.3%

Other8.1%

Education (25+)

14.4%

34.1%

46.4%

No HS diploma5%

HS diploma14.4%

Some college34.1%

Bachelor's+46.4%

Housing tenure

78.9%

21.1%

Owner78.9%

Renter21.1%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Happy Valley, OR has changed in 5 years

Rent

$1,582 → $1,833

up 15.9%

Income

$131,980 → $122,151

down 7.4%

Population

23,442 → 26,738

up 14.1%

Renter share

14.8% → 21.1%

+6.3 pts

Bachelor's+

50% → 46.4%

-3.6 pts

Since 2021, the typical rent in Happy Valley, OR has increased from $1,582 to $1,833, a 15.9% change over five years. Census figures show median household income at $122,151 today, compared with $131,980 five years earlier. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 14.1% since 2021, moving from about 23,442 residents to roughly 26,738. Renters now make up 21.1% of households, compared with 14.8% five years ago. College-educated residents now make up 46.4% of adults here, versus 50% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

Discussions about Happy Valley

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View Happy Valley rent history (2015–2026) →

Salary vs rent

Can you afford rent in Happy Valley on your salary?

At $1,833/mo, how Happy Valley rent compares to typical pay (30% rule).

Registered Nurse

Avg $98,259/yr · Rent = 22.4% income

affordable

Elementary School Teacher

Avg $69,763/yr · Rent = 31.5% income

stretched

Police Officer

Avg $80,361/yr · Rent = 27.4% income

affordable

Software Developer

Avg $143,634/yr · Rent = 15.3% income

very comfortable

Lawyer

Avg $183,529/yr · Rent = 12% income

very comfortable

Firefighter

Avg $65,322/yr · Rent = 33.7% income

stretched

Truck Driver

Avg $58,978/yr · Rent = 37.3% income

stretched

Electrician

Avg $72,696/yr · Rent = 30.3% income

stretched

By apartment size

Happy Valley rent by bedroom count

Median rent for each apartment size in Happy Valley. Click any size for full breakdown.

Local insights

Tips for renters in Happy Valley

About renting in Happy Valley, OR

Last updated: July 20, 2026

The median rent in Happy Valley is $1,833/mo as of July 2026. A studio apartment averages $1,610/mo while a 2-bedroom runs $1,980/mo. One-bedroom apartments average $1,730/mo and 3-bedroom units go for $2,720/mo.

At 18% of local median household income ($122,151/yr), Happy Valley ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.9% over the past year.

FAQ

Frequently asked questions

Is Happy Valley an affordable city for renters?

Happy Valley is considered very affordable for renters. At $1,833/mo, rent takes approximately 18% of the local median household income ($122,151/yr). The standard benchmark is 30%. Happy Valley falls comfortably within that range.

How much income do you need to rent in Happy Valley?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (~$35/hour full-time) to afford the median rent of $1,833/mo in Happy Valley. The local median household income is $122,151/yr, meaning the typical Happy Valley household meets that threshold.

Is rent going up or down in Happy Valley?

Rent in Happy Valley has decreased 1.9% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Happy Valley rent compare to other cities in Oregon?

Happy Valley is one of the pricier cities in Oregon for rent, ranking #20 out of 65 tracked cities at $1,833/mo.

Which nearby cities are cheaper to rent in than Happy Valley?

Several nearby cities have lower median rents than Happy Valley ($1,833/mo): Gresham ($1,632/mo), Milwaukie ($1,691/mo), Gladstone ($1,747/mo).

What percentage of Happy Valley residents rent vs. own?

According to Census data, approximately 21.1% of Happy Valley households are renters, while 78.9% are owner-occupied. Happy Valley leans toward homeownership, which can mean a smaller rental inventory.

How does Happy Valley rent compare to the national average?

Happy Valley's median rent of $1,833/mo is $132 (7%) below the US national median of $1,965/mo. Within Oregon, it ranks #20 out of 65 tracked cities.

Income Affordability

18%

VERY AFFORDABLE

At $1,833/mo, rent takes ~18% of Happy Valley's median household income ($122,151/yr). The standard benchmark is 30%.

Happy Valley 18%Benchmark 30%

State income tax4.75–9.9%

Run the Happy Valley affordability calculator →

Nearby cities