ZIP Code · OR

ZIP 97214

Part of Portland, OR

Pop. 27,714·Multnomah County·87th most expensive ZIP in Oregon

Median rent (all units)

$1,628/mo

Year-over-Year

+1.7%

Month-over-Month

Stable

vs US Median

-$304

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97214 · $1,628

More affordable than 63% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,200

1 BR

$1,283

2 BR

$1,469

3 BR

$1,999

4 BR+

$2,375

Research median

$1,469/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

January. Asking rents in ZIP 97214 usually run 1% below trend in January and 1% above it in September, about $33 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in ZIP 97214 is 0% below its high of $1,628 in August 2026, at $1,628 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97214 changed +1.7% 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 97214 rose 13.8% while median household income rose 24.6% ($69,946 to $87,131). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 97214 is 14.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

What a typical income covers

30% of the median household income ($87,131) is $2,178 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($2,010); a 2-bedroom is $2,300.

Rank in Portland

10th cheapest of 27 ZIP codes in Portland.

From Zillow's monthly rent index (ZORI) for ZIP 97214. 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

$19,536/yr

At $1,628/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 (+1.7% YoY, +0.0% MoM), not inventory.

Demographics

Who lives here

ZIP 97214 (Portland, OR) is majority renter-occupied, skews toward younger working-age adults, 67.1% of residents hold a bachelor's degree or higher.

Population

27,714

Median income

$87,131

Median age

36.8

Renters

66.1%

Age distribution

34.9%

Under 189.7%

18–3434.9%

35–5434.9%

55–649.7%

65+10.7%

Gender

51.5%

48.5%

Male51.5%

Female48.5%

Race & ethnicity

77.5%

White77.5%

Black2.1%

Hispanic8.7%

Asian3.9%

Other7.7%

Education (25+)

22.4%

67.1%

No HS diploma1.2%

HS diploma9.2%

Some college22.4%

Bachelor's+67.1%

Housing tenure

33.9%

66.1%

Owner33.9%

Renter66.1%

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

2021 vs 2026

How ZIP 97214 in Portland, OR has changed in 5 years

Rent

$1,401 → $1,628

up 16.2%

Income

$82,549 → $87,131

up 5.6%

Population

28,630 → 27,714

down 3.2%

Renter share

67.4% → 66.1%

-1.3 pts

Bachelor's+

66.2% → 67.1%

+0.9 pts

Compared with 2021, rent in ZIP 97214 in Portland, OR has climbed by $227 per month, settling near $1,628 after starting the period at $1,401. Median household income grew from $82,549 to $87,131 between 2021 and 2024, a 5.6% shift. Rent outpaced income growth by roughly 10.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 28,630 to 27,714 between 2021 and 2024, a 3.2% change. Taken together, the five-year picture in ZIP 97214 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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About renting in ZIP 97214

Last updated: October 17, 2026

ZIP code 97214 covers Portland, OR. The median rent here is $1,628/mo as of October 2026. A 1-bedroom rents for a median of $1,283/mo. A 2-bedroom rents for a median of $1,469/mo.

At 22% of local median household income ($87,131/yr), ZIP 97214 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97214?

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 $1,628/mo in ZIP 97214. The local median household income is $87,131/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97214?

Rent in ZIP 97214 has risen 1.7% over the past year as of September 2026. It sits 0% below its high of $1,628 in August 2026.

When is the cheapest time to rent in ZIP 97214?

Asking rents in ZIP 97214 are usually lowest in January, about 1% below their yearly trend, and highest in September, about 1% above it. At today's median that is a gap of roughly $33 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in ZIP 97214?

No. From 2019 to 2024, rent in ZIP 97214 rose 13.8% while median household income rose 24.6%, from $69,946 to $87,131. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 97214 compare to other ZIPs in Oregon?

ZIP 97214 is one of the more affordable among Oregon ZIP codes for rent, ranking #87 of 114 at $1,628/mo. Over the year to September 2026, rent in ZIP 97214 changed +1.7%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.