ZIP Code · OR

ZIP 97024

Part of Fairview, OR

Pop. 12,007·Multnomah County·70th most expensive ZIP in Oregon

Median rent (all units)

$1,705/mo

Year-over-Year

-4.6%

Month-over-Month

-1.2%

vs US Median

-$227

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 97024 · $1,705

More affordable than 57% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,470

1 BR

$1,580

2 BR

$1,800

3 BR

$2,470

4 BR+

$2,910

Research median

$1,800/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 97024 is 5.5% below its high of $1,804 in February 2025, at $1,705 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97024 changed -4.6% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has fallen 6 months in a row, and rose in 2 of the last 12 months.

What a typical income covers

30% of the median household income ($69,679) is $1,742 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,580); a 2-bedroom is $1,800.

Cheaper nearby

ZIP 97230, 3 miles away, rents for 10% less ($1,527/mo), about $2,100 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97024. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$20,460/yr

At $1,705/mo median

Location

CityFairview

StateOR

CountyMultnomah County

Rent Market Meter

Strong Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are down 4.6% year-over-year. Push hard on price, concessions, and lease terms.

Based on rent-price momentum (-4.6% YoY, -1.2% MoM), not inventory.

Demographics

Who lives here

ZIP 97024 (Fairview, OR) is roughly split between renters and owners, 23.7% of residents hold a bachelor's degree or higher.

Population

12,007

Median income

$69,679

Median age

37.6

Renters

53.9%

Age distribution

18%

28.4%

22.5%

15.6%

15.5%

Under 1818%

18–3428.4%

35–5422.5%

55–6415.6%

65+15.5%

Gender

52%

48%

Male52%

Female48%

Race & ethnicity

51.1%

26.3%

White51.1%

Black10.9%

Hispanic26.3%

Asian1.5%

Other10.3%

Education (25+)

12.9%

27.7%

35.6%

23.7%

No HS diploma12.9%

HS diploma27.7%

Some college35.6%

Bachelor's+23.7%

Housing tenure

46.1%

53.9%

Owner46.1%

Renter53.9%

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

2023 vs 2026

How ZIP 97024 in Fairview, OR has changed in 5 years

Rent

$1,758 → $1,705

down 3.0%

Income

$64,287 → $69,679

up 8.4%

Population

11,195 → 12,007

up 7.3%

Renter share

45.1% → 53.9%

+8.8 pts

Bachelor's+

21.5% → 23.7%

+2.2 pts

Median age

39.2 → 37.6

-1.6 yrs

Since 2023, the typical rent in ZIP 97024 in Fairview, OR has fallen from $1,758 to $1,705, a 3.0% change over five years. Median household income rose from $64,287 to $69,679 between 2021 and 2024, a 8.4% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 7.3% since 2021, moving from about 11,195 residents to roughly 12,007. Renters now make up 53.9% of households, compared with 45.1% five years ago. College-educated residents now make up 23.7% of adults here, versus 21.5% in 2021. Taken together, the five-year picture in ZIP 97024 in Fairview, OR reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 97024

Last updated: October 17, 2026

ZIP code 97024 covers Fairview, OR. The median rent here is $1,705/mo as of October 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,800/mo.

At 29% of local median household income ($69,679/yr), ZIP 97024 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 4.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97024?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,705/mo in ZIP 97024. The local median household income is $69,679/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97024?

Rent in ZIP 97024 has fallen 4.6% over the past year as of September 2026. It sits 5.5% below its high of $1,804 in February 2025.

How does ZIP 97024 compare to other ZIPs in Oregon?

ZIP 97024 is in the middle among Oregon ZIP codes for rent, ranking #70 of 114 at $1,705/mo. Over the year to September 2026, rent in ZIP 97024 changed -4.6%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.