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ZIP Code · OR

ZIP 97203

Part of Portland, OR
Pop. 33,116·Multnomah County·41st most expensive ZIP in Oregon
Median rent (all units)
$1,818/mo
Year-over-Year
+10.9%
Month-over-Month
-1.5%
vs US Median
-$147
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 97203 · $1,818
More expensive than 50% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,510
1 BR
$1,610
2 BR
$1,850
3 BR
$2,520
4 BR+
$2,990
Research median
$1,850/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
$21,816/yr
At $1,818/mo median
Location
StateOR
CountyMultnomah County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 10.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+10.9% YoY, -1.5% MoM), not inventory.
Demographics

Who lives here

ZIP 97203 (Portland, OR) is majority owner-occupied, skews toward younger working-age adults, 45.2% of residents hold a bachelor's degree or higher.

Population
33,116
Median income
$78,660
Median age
34.3
Renters
43%
Age distribution
18.6%
32.7%
31.5%
Under 1818.6%
18–3432.7%
35–5431.5%
55–647.7%
65+9.5%
Gender
51%
49%
Male51%
Female49%
Race & ethnicity
55.7%
12.2%
18.4%
White55.7%
Black12.2%
Hispanic18.4%
Asian6.5%
Other7.2%
Education (25+)
18.9%
25.6%
45.2%
No HS diploma10.3%
HS diploma18.9%
Some college25.6%
Bachelor's+45.2%
Housing tenure
57%
43%
Owner57%
Renter43%

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

2021 vs 2026

How ZIP 97203 in Portland, OR has changed in 5 years

Rent
$1,446 → $1,818
up 25.7%
Income
$71,498 → $78,660
up 10.0%
Population
34,583 → 33,116
down 4.2%
Renter share
42% → 43%
+1.0 pts
Bachelor's+
45.4% → 45.2%
-0.2 pts
Median age
32.4 → 34.3
+1.9 yrs

Five years ago, renters in ZIP 97203 in Portland, OR paid around $1,446 a month. That figure now sits near $1,818, up 25.7% from the 2021 baseline. Median household income climbed from $71,498 to $78,660 between 2021 and 2024, a 10.0% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 97203 in Portland, OR losing about 1,467 residents over the five-year window, down 4.2% on net. Taken together, the five-year picture in ZIP 97203 in Portland, 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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Local insights

Tips for renters in ZIP 97203

About renting in ZIP 97203

Last updated: July 20, 2026

ZIP code 97203 covers Portland, OR. The median rent here is $1,818/mo as of July 2026. A 1-bedroom rents for a median of $1,610/mo. A 2-bedroom rents for a median of $1,850/mo.

At 28% of local median household income ($78,660/yr), ZIP 97203 ranks as affordable compared to the national benchmark of 30%. Rents have increased 10.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97203?

As of July 20, 2026, the median monthly rent in ZIP 97203 (Portland, OR) is $1,818. This is based on aggregated data from public sources and community submissions.

How does ZIP 97203 rent compare to the US average?

ZIP 97203's median rent of $1,818/mo is $147 (7%) below the US national median of $1,965/mo.

How does ZIP 97203 compare to other ZIPs in Oregon?

ZIP 97203 falls in the middle range for Oregon, ranking #41 out of 116 ZIPs at $1,818/mo.

How much income do you need to rent in ZIP 97203?

To keep rent at or below 30% of gross income, you would need to earn at least $73,000/year (~$35/hour full-time) to afford the median rent of $1,818/mo in ZIP 97203. The local median household income is $78,660/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97203?

Rent in ZIP 97203 has increased 10.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 97203 an affordable place to rent?

ZIP 97203 is considered affordable for renters. At $1,818/mo, rent takes approximately 28% of the local median household income ($78,660/yr). The standard benchmark is 30%. ZIP 97203 falls comfortably within that range.

What percentage of ZIP 97203 residents rent vs. own?

According to Census data, approximately 43% of ZIP 97203 households are renters, while 57% are owner-occupied. ZIP 97203 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 97203 compare to the rest of Portland?

ZIP 97203 is pricier than Portland as a whole. At $1,818/mo, it's $97 above the Portland citywide median of $1,721/mo.

When was rent data for ZIP 97203 last updated?

Rent data for ZIP 97203 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
28%
AFFORDABLE

At $1,818/mo, rent takes ~28% of ZIP 97203's median household income ($78,660/yr). The standard benchmark is 30%.

ZIP 97203 28%Benchmark 30%
State income tax4.75–9.9%
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Schools nearby

Public schools near ZIP 97203 (Portland, OR)

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