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ZIP Code · OR

ZIP 97123

Pop. 48,410·Washington County·7th most expensive ZIP in Oregon
Median rent (all units)
$2,339/mo
Year-over-Year
+5.7%
Month-over-Month
-0.8%
vs US Median
+$374
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 97123 · $2,339
More expensive than 74% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,620
1 BR
$1,730
2 BR
$1,980
3 BR
$2,700
4 BR+
$3,200
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
$28,068/yr
At $2,339/mo median
Location
StateOR
CountyWashington County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (5.7% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+5.7% YoY, -0.8% MoM), not inventory.
Demographics

Who lives here

ZIP 97123 (Hillsboro, OR) is majority owner-occupied, has a median income above the national average, 37.4% of residents hold a bachelor's degree or higher.

Population
48,410
Median income
$109,985
Median age
37.8
Renters
30.2%
Age distribution
20.6%
24.8%
28.3%
14.5%
Under 1820.6%
18–3424.8%
35–5428.3%
55–6411.8%
65+14.5%
Gender
50.4%
49.6%
Male50.4%
Female49.6%
Race & ethnicity
56.7%
28.1%
White56.7%
Black1.9%
Hispanic28.1%
Asian9.6%
Other3.7%
Education (25+)
13.6%
20%
29%
37.4%
No HS diploma13.6%
HS diploma20%
Some college29%
Bachelor's+37.4%
Housing tenure
69.8%
30.2%
Owner69.8%
Renter30.2%

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

2021 vs 2026

How ZIP 97123 in Hillsboro, OR has changed in 5 years

Rent
$1,830 → $2,339
up 27.8%
Income
$89,492 → $109,985
up 22.9%
Population
47,972 → 48,410
up 0.9%
Renter share
31.4% → 30.2%
-1.2 pts
Bachelor's+
32.5% → 37.4%
+4.9 pts
Median age
36 → 37.8
+1.8 yrs

Rent in ZIP 97123 in Hillsboro, OR has climbed 27.8% since 2021, going from about $1,830 per month to roughly $2,339 today. Census figures show median household income at $109,985 today, compared with $89,492 five years earlier. Rent outpaced income growth by roughly 4.9 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 32.5% to 37.4%. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

Tips for renters in ZIP 97123

About renting in ZIP 97123

Last updated: July 20, 2026

ZIP code 97123 covers Hillsboro, OR. The median rent here is $2,339/mo as of July 2026. A 1-bedroom rents for a median of $1,730/mo. A 2-bedroom rents for a median of $1,980/mo.

At 26% of local median household income ($109,985/yr), ZIP 97123 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97123?

As of July 20, 2026, the median monthly rent in ZIP 97123 (Hillsboro, OR) is $2,339. This is based on aggregated data from public sources and community submissions.

How does ZIP 97123 rent compare to the US average?

ZIP 97123's median rent of $2,339/mo is $374 (19%) above the US national median of $1,965/mo.

How does ZIP 97123 compare to other ZIPs in Oregon?

ZIP 97123 is one of the pricier ZIP codes in Oregon, ranking #7 out of 116 ZIPs tracked at $2,339/mo.

How much income do you need to rent in ZIP 97123?

To keep rent at or below 30% of gross income, you would need to earn at least $94,000/year (~$45/hour full-time) to afford the median rent of $2,339/mo in ZIP 97123. The local median household income is $109,985/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97123?

Rent in ZIP 97123 has increased 5.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 97123 an affordable place to rent?

ZIP 97123 is considered affordable for renters. At $2,339/mo, rent takes approximately 26% of the local median household income ($109,985/yr). The standard benchmark is 30%. ZIP 97123 falls comfortably within that range.

What percentage of ZIP 97123 residents rent vs. own?

According to Census data, approximately 30.2% of ZIP 97123 households are renters, while 69.8% are owner-occupied. ZIP 97123 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 97123 compare to the rest of Hillsboro?

ZIP 97123 is pricier than Hillsboro as a whole. At $2,339/mo, it's $437 above the Hillsboro citywide median of $1,902/mo.

When was rent data for ZIP 97123 last updated?

Rent data for ZIP 97123 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $2,339/mo, rent takes ~26% of ZIP 97123's median household income ($109,985/yr). The standard benchmark is 30%.

ZIP 97123 26%Benchmark 30%
State income tax4.75–9.9%
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Schools nearby

Public schools near ZIP 97123 (Hillsboro, OR)

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