ZIP Code · OR

ZIP 97045

Part of Oregon City, OR

Pop. 57,526·Clackamas County·19th most expensive ZIP in Oregon

Median rent (all units)

$2,006/mo

Year-over-Year

+2.9%

Month-over-Month

+2.4%

vs US Median

+$74

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 97045 · $2,006

More expensive than 62% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,580

1 BR

$1,690

2 BR

$1,940

3 BR

$2,640

4 BR+

$3,140

Research median

$1,940/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

Cheapest month to sign

January. Asking rents in ZIP 97045 usually run 1.1% below trend in January and 1.1% above it in September, about $44 a month apart at today's median. Based on 6 years of data.

Compared with the peak

Rent in ZIP 97045 is at its highest level since Zillow's records here began in March 2020.

Past year vs. the rest of Oregon

Rent in ZIP 97045 changed +2.9% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Since before the pandemic

Rent in ZIP 97045 is 38.2% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

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

What a typical income covers

30% of the median household income ($103,573) is $2,589 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,940); a 3-bedroom is $2,640.

Cheaper nearby

ZIP 97027, 5 miles away, rents for 10% less ($1,796/mo), about $2,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97045. 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.

Annual cost

$24,072/yr

At $2,006/mo median

Location

CityOregon City

StateOR

CountyClackamas County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 2.9% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+2.9% YoY, +2.4% MoM), not inventory.

Demographics

Who lives here

ZIP 97045 (Oregon City, OR) is majority owner-occupied, has a median income above the national average, 33.3% of residents hold a bachelor's degree or higher.

Population

57,526

Median income

$103,573

Median age

40.3

Renters

25.2%

Age distribution

20.9%

21.5%

27%

12.3%

18.3%

Under 1820.9%

18–3421.5%

35–5427%

55–6412.3%

65+18.3%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

85.2%

White85.2%

Black0.9%

Hispanic7.9%

Asian1.7%

Other4.3%

Education (25+)

25.7%

35.5%

33.3%

No HS diploma5.6%

HS diploma25.7%

Some college35.5%

Bachelor's+33.3%

Housing tenure

74.8%

25.2%

Owner74.8%

Renter25.2%

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

2021 vs 2026

How ZIP 97045 in Oregon City, OR has changed in 5 years

Rent

$1,587 → $2,006

up 26.4%

Income

$87,783 → $103,573

up 18.0%

Population

56,672 → 57,526

up 1.5%

Renter share

25.2% → 25.2%

+0.0 pts

Bachelor's+

31.9% → 33.3%

+1.4 pts

Across the past five years, the going rent in ZIP 97045 in Oregon City, OR has shifted from $1,587 to $2,006, up 26.4% since 2021. Median household income climbed from $87,783 to $103,573 between 2021 and 2024, a 18.0% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 97045 in Oregon City, OR adding about 854 residents over the five-year window, up 1.5% on net. Taken together, the five-year picture in ZIP 97045 in Oregon City, 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 97045

Last updated: October 17, 2026

ZIP code 97045 covers Oregon City, OR. The median rent here is $2,006/mo as of October 2026. A 1-bedroom rents for a median of $1,690/mo. A 2-bedroom rents for a median of $1,940/mo.

At 23% of local median household income ($103,573/yr), ZIP 97045 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97045?

To keep rent at or below 30% of gross income, you would need to earn at least $80,000/year (about $38/hour full-time) to afford the median rent of $2,006/mo in ZIP 97045. The local median household income is $103,573/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97045?

Rent in ZIP 97045 has risen 2.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2020.

When is the cheapest time to rent in ZIP 97045?

Asking rents in ZIP 97045 are usually lowest in January, about 1.1% below their yearly trend, and highest in September, about 1.1% above it. At today's median that is a gap of roughly $44 a month. This pattern comes from 6 years of Zillow rent data.

How does ZIP 97045 compare to other ZIPs in Oregon?

ZIP 97045 is one of the pricier among Oregon ZIP codes for rent, ranking #19 of 114 at $2,006/mo. Over the year to September 2026, rent in ZIP 97045 changed +2.9%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.