Rents are 4% below what Portland's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,719 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Portland usually run 1.1% below trend in February and 1.1% above it in August, about $38 a month apart at today's median. Based on 11 years of data.
Rent in Portland is at its highest level since Zillow's records here began in January 2015.
Rent in Portland changed +1.7% over the year to September 2026. Across the 54 Oregon cities Zillow tracks, the typical change was +1.9%.
From 2019 to 2024, rent in Portland rose 17.4% while median household income rose 28% ($71,005 to $90,919). Income kept ahead of rent.
Rent in Portland is 19.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($90,919) is $2,273 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,039); a 3-bedroom is $2,802.
The priciest of 27 ZIP codes in Portland, 97212 ($2,340/mo), costs 1.6 times the cheapest, 97233 ($1,487/mo).
Raleigh Hills, 6 miles away, rents for 11% less ($1,524/mo), about $2,300 a year in savings.
From Zillow's monthly rent index (ZORI) for Portland. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Portland, OR is roughly split between renters and owners, has a median income above the national average, 53.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Portland, OR has changed in 5 years
Across the past five years, the going rent in Portland, OR has shifted from $1,459 to $1,719, up 17.8% since 2021. Census figures show median household income at $90,919 today, compared with $78,476 five years earlier. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.
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Can you afford rent in Portland on your salary?
At $1,719/mo, how Portland rent compares to typical pay (30% rule).
Portland rent by bedroom count
Median rent for each apartment size in Portland. Click any size for full breakdown.
Tips for renters in Portland
Last updated: October 17, 2026
The median rent in Portland is $1,719/mo as of October 2026. A studio apartment averages $1,663/mo while a 2-bedroom runs $2,039/mo. One-bedroom apartments average $1,785/mo and 3-bedroom units go for $2,802/mo.
At 23% of local median household income ($90,919/yr), Portland ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.
Frequently asked questions
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At $1,719/mo, rent takes ~23% of Portland's median household income ($90,919/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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