ZIP Code · OR

ZIP 97201

Part of Portland, OR

Pop. 16,887·Multnomah County·93rd most expensive ZIP in Oregon

Median rent (all units)

$1,588/mo

Year-over-Year

+1.2%

Month-over-Month

+0.6%

vs US Median

-$344

Reported rents

Rising (Monthly)

Be the first to discuss 97201 rents ↓

Most AffordableMost Expensive

ZIP 97201 · $1,588

More affordable than 66% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,168

1 BR

$1,250

2 BR

$1,432

3 BR

$1,953

4 BR+

$2,317

Research median

$1,432/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 97201 usually run 1.4% below trend in December and 1.5% above it in August, about $46 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in ZIP 97201 is 1.1% below its high of $1,605 in February 2023, at $1,588 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97201 changed +1.2% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 97201 rose 8.4% while median household income rose 14% ($55,485 to $63,250). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 97201 is 10% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 3 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($63,250) is $1,581 a month. That is less than HUD's Fair Market Rent for a studio ($1,860).

Rank in Portland

7th cheapest of 27 ZIP codes in Portland.

From Zillow's monthly rent index (ZORI) for ZIP 97201. 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

$19,056/yr

At $1,588/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.2% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.2% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 97201 (Portland, OR) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 68.7% of residents hold a bachelor's degree or higher.

Population

16,887

Median income

$63,250

Median age

33.6

Renters

72.8%

Age distribution

45.5%

23.1%

16.3%

Under 186.6%

18–3445.5%

35–5423.1%

55–648.5%

65+16.3%

Gender

49.8%

50.2%

Male49.8%

Female50.2%

Race & ethnicity

69.4%

White69.4%

Black4.5%

Hispanic9.7%

Asian11.5%

Other5%

Education (25+)

20.3%

68.7%

No HS diploma4.5%

HS diploma6.5%

Some college20.3%

Bachelor's+68.7%

Housing tenure

27.2%

72.8%

Owner27.2%

Renter72.8%

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

2021 vs 2026

How ZIP 97201 in Portland, OR has changed in 5 years

Rent

$1,410 → $1,588

up 12.6%

Income

$59,811 → $63,250

up 5.7%

Population

17,015 → 16,887

down 0.8%

Renter share

70.3% → 72.8%

+2.5 pts

Bachelor's+

66.9% → 68.7%

+1.8 pts

Median age

32.2 → 33.6

+1.4 yrs

Since 2021, the typical rent in ZIP 97201 in Portland, OR has climbed from $1,410 to $1,588, a 12.6% change over five years. On the earnings side, the typical household in ZIP 97201 in Portland, OR now reports about $63,250, up from $59,811 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 72.8% of households, compared with 70.3% five years ago. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 97201 in Portland, OR reflects that arc in its own way.

Community

Discussions about ZIP 97201

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 97201

About renting in ZIP 97201

Last updated: October 17, 2026

ZIP code 97201 covers Portland, OR. The median rent here is $1,588/mo as of October 2026. A 1-bedroom rents for a median of $1,250/mo. A 2-bedroom rents for a median of $1,432/mo.

At 30% of local median household income ($63,250/yr), ZIP 97201 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97201?

To keep rent at or below 30% of gross income, you would need to earn at least $64,000/year (about $31/hour full-time) to afford the median rent of $1,588/mo in ZIP 97201. The local median household income is $63,250/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 97201?

Rent in ZIP 97201 has risen 1.2% over the past year as of September 2026. It sits 1.1% below its high of $1,605 in February 2023.

When is the cheapest time to rent in ZIP 97201?

Asking rents in ZIP 97201 are usually lowest in December, about 1.4% below their yearly trend, and highest in August, about 1.5% above it. At today's median that is a gap of roughly $46 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in ZIP 97201?

No. From 2019 to 2024, rent in ZIP 97201 rose 8.4% while median household income rose 14%, from $55,485 to $63,250. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 97201 compare to other ZIPs in Oregon?

ZIP 97201 is one of the more affordable among Oregon ZIP codes for rent, ranking #93 of 114 at $1,588/mo. Over the year to September 2026, rent in ZIP 97201 changed +1.2%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.