ZIP Code · OR

ZIP 97140

Part of Sherwood, OR

Pop. 27,933·Washington County·3rd most expensive ZIP in Oregon

Median rent (all units)

$2,614/mo

Year-over-Year

+2.4%

Month-over-Month

+0.9%

vs US Median

+$682

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 97140 · $2,614

More expensive than 83% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,980

1 BR

$2,110

2 BR

$2,420

3 BR

$3,300

4 BR+

$3,910

Research median

$2,420/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 97140 is at its highest level since Zillow's records here began in November 2022.

Past year vs. the rest of Oregon

Rent in ZIP 97140 changed +2.4% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has risen 3 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($123,228) is $3,081 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,420); a 3-bedroom is $3,300.

Cheaper nearby

ZIP 97224, 5 miles away, rents for 30% less ($1,836/mo), about $9,300 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97140. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$31,368/yr

At $2,614/mo median

Location

CitySherwood

StateOR

CountyWashington County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.4% YoY, +0.9% MoM), not inventory.

Demographics

Who lives here

ZIP 97140 (Sherwood, OR) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 48.4% of residents hold a bachelor's degree or higher.

Population

27,933

Median income

$123,228

Median age

37.6

Renters

24.6%

Age distribution

26.4%

19.1%

33.5%

Under 1826.4%

18–3419.1%

35–5433.5%

55–649.9%

65+11.1%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

79.7%

White79.7%

Black0.8%

Hispanic8.5%

Asian4.2%

Other6.8%

Education (25+)

16.5%

30.5%

48.4%

No HS diploma4.6%

HS diploma16.5%

Some college30.5%

Bachelor's+48.4%

Housing tenure

75.4%

24.6%

Owner75.4%

Renter24.6%

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

2023 vs 2026

How ZIP 97140 in Sherwood, OR has changed in 5 years

Rent

$2,395 → $2,614

up 9.1%

Income

$114,028 → $123,228

up 8.1%

Population

28,282 → 27,933

down 1.2%

Renter share

22.4% → 24.6%

+2.2 pts

Bachelor's+

47.2% → 48.4%

+1.2 pts

Across the past five years, the going rent in ZIP 97140 in Sherwood, OR has shifted from $2,395 to $2,614, up 9.1% since 2023. Median household income climbed from $114,028 to $123,228 between 2021 and 2024, a 8.1% shift. Census counts show ZIP 97140 in Sherwood, OR losing about 349 residents over the five-year window, down 1.2% on net. The renter share has risen from 22.4% to 24.6%, with owner-occupied housing accounting for the remainder. Taken together, the five-year picture in ZIP 97140 in Sherwood, 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 97140

Last updated: October 17, 2026

ZIP code 97140 covers Sherwood, OR. The median rent here is $2,614/mo as of October 2026. A 1-bedroom rents for a median of $2,110/mo. A 2-bedroom rents for a median of $2,420/mo.

At 25% of local median household income ($123,228/yr), ZIP 97140 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97140?

To keep rent at or below 30% of gross income, you would need to earn at least $105,000/year (about $50/hour full-time) to afford the median rent of $2,614/mo in ZIP 97140. The local median household income is $123,228/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97140?

Rent in ZIP 97140 has risen 2.4% over the past year as of September 2026. That is the highest level since Zillow's records here began in November 2022.

How does ZIP 97140 compare to other ZIPs in Oregon?

ZIP 97140 is one of the pricier among Oregon ZIP codes for rent, ranking #3 of 114 at $2,614/mo. Over the year to September 2026, rent in ZIP 97140 changed +2.4%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.