ZIP 97206
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Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in ZIP 97206 usually run 1.3% below trend in February and 1.1% above it in August, about $46 a month apart at today's median. Based on 10 years of data.
Rent in ZIP 97206 is 0.7% below its high of $1,916 in April 2026, at $1,902 as of September 2026.
Rent in ZIP 97206 changed +0.6% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.
From 2019 to 2024, rent in ZIP 97206 rose 26.3% while median household income rose 41.4% ($69,672 to $98,548). Income kept ahead of rent.
Rent in ZIP 97206 is 28.1% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($98,548) is $2,464 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,870); a 3-bedroom is $2,550.
22nd cheapest of 27 ZIP codes in Portland.
ZIP 97202, 2 miles away, rents for 12% less ($1,676/mo), about $2,700 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 97206. 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.
Who lives here
ZIP 97206 (Portland, OR) is majority owner-occupied, has a median income above the national average, 50.3% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 97206 in Portland, OR has changed in 5 years
Rent in ZIP 97206 in Portland, OR has increased 20.5% since 2021, going from about $1,578 per month to roughly $1,902 today. Median household income grew from $77,133 to $98,548 between 2021 and 2024, a 27.8% shift. Income growth outran rent by about 7.3 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 52,702 to 49,890 between 2021 and 2024, a 5.3% change. About 35.2% of households rent today, against 33.4% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 44.9% to 50.3%. Taken together, the five-year picture in ZIP 97206 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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Tips for renters in ZIP 97206
Last updated: October 17, 2026
ZIP code 97206 covers Portland, OR. The median rent here is $1,902/mo as of October 2026. A 1-bedroom rents for a median of $1,630/mo. A 2-bedroom rents for a median of $1,870/mo.
At 23% of local median household income ($98,548/yr), ZIP 97206 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.6% over the past year.
Frequently asked questions
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How does ZIP 97206 compare to the rest of Portland?
At $1,902/mo, rent takes ~23% of ZIP 97206's median household income ($98,548/yr). The standard benchmark is 30%.
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