ZIP Code · OR

ZIP 97205

Part of Portland, OR

Pop. 9,121·Multnomah County·89th most expensive ZIP in Oregon

Median rent (all units)

$1,617/mo

Year-over-Year

-1.5%

Month-over-Month

Stable

vs US Median

-$315

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97205 · $1,617

More affordable than 64% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,470

1 BR

$1,580

2 BR

$1,800

3 BR

$2,470

4 BR+

$2,900

Research median

$1,800/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

February. Asking rents in ZIP 97205 usually run 1.6% below trend in February and 1.7% above it in September, about $53 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 97205 is 5.4% below its high of $1,709 in September 2022, at $1,617 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97205 changed -1.5% 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 97205 rose 1.4% while median household income rose 53.1% ($37,420 to $57,288). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 97205 is 0.8% lower 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 5 of the last 12 months.

What a typical income covers

30% of the median household income ($57,288) is $1,432 a month. That is less than HUD's Fair Market Rent for a studio ($1,470).

Rank in Portland

9th cheapest of 27 ZIP codes in Portland.

From Zillow's monthly rent index (ZORI) for ZIP 97205. 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

$19,404/yr

At $1,617/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (-1.5% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 97205 (Portland, OR) is majority renter-occupied, skews toward younger working-age adults, has a median income below the national average, 57.5% of residents hold a bachelor's degree or higher.

Population

9,121

Median income

$57,288

Median age

40.5

Renters

84.9%

Age distribution

34.8%

30.7%

18.3%

Under 187.1%

18–3434.8%

35–5430.7%

55–649.1%

65+18.3%

Gender

53.6%

46.4%

Male53.6%

Female46.4%

Race & ethnicity

70%

14.3%

White70%

Black7.2%

Hispanic14.3%

Asian4.7%

Other3.8%

Education (25+)

26.7%

57.5%

No HS diploma3.9%

HS diploma11.8%

Some college26.7%

Bachelor's+57.5%

Housing tenure

15.1%

84.9%

Owner15.1%

Renter84.9%

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

2021 vs 2026

How ZIP 97205 in Portland, OR has changed in 5 years

Rent

$1,468 → $1,617

up 10.1%

Income

$49,708 → $57,288

up 15.2%

Population

8,309 → 9,121

up 9.8%

Renter share

78.9% → 84.9%

+6.0 pts

Bachelor's+

57.3% → 57.5%

+0.2 pts

Median age

42.1 → 40.5

-1.6 yrs

Since 2021, the typical rent in ZIP 97205 in Portland, OR has climbed from $1,468 to $1,617, a 10.1% change over five years. Household income in the area moved from $49,708 to $57,288 across the same window, up 15.2% versus 2021. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 9.8% since 2021, moving from about 8,309 residents to roughly 9,121. Renters now make up 84.9% of households, compared with 78.9% five years ago. Reading these numbers side by side helps frame whether current listings in ZIP 97205 in Portland, OR look reasonable against where the market sat half a decade ago.

Community

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About renting in ZIP 97205

Last updated: October 17, 2026

ZIP code 97205 covers Portland, OR. The median rent here is $1,617/mo as of October 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,800/mo.

At 34% of local median household income ($57,288/yr), ZIP 97205 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 1.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97205?

To keep rent at or below 30% of gross income, you would need to earn at least $65,000/year (about $31/hour full-time) to afford the median rent of $1,617/mo in ZIP 97205. The local median household income is $57,288/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 97205?

Rent in ZIP 97205 has fallen 1.5% over the past year as of September 2026. It sits 5.4% below its high of $1,709 in September 2022.

When is the cheapest time to rent in ZIP 97205?

Asking rents in ZIP 97205 are usually lowest in February, about 1.6% below their yearly trend, and highest in September, about 1.7% above it. At today's median that is a gap of roughly $53 a month. This pattern comes from 7 years of Zillow rent data.

Has rent outpaced income in ZIP 97205?

No. From 2019 to 2024, rent in ZIP 97205 rose 1.4% while median household income rose 53.1%, from $37,420 to $57,288. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 97205 compare to other ZIPs in Oregon?

ZIP 97205 is one of the more affordable among Oregon ZIP codes for rent, ranking #89 of 114 at $1,617/mo. Over the year to September 2026, rent in ZIP 97205 changed -1.5%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.