ZIP Code · OR

ZIP 97216

Part of Portland, OR

Pop. 16,638·Multnomah County·72nd most expensive ZIP in Oregon

Median rent (all units)

$1,688/mo

Year-over-Year

-1.4%

Month-over-Month

-0.3%

vs US Median

-$244

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97216 · $1,688

More affordable than 59% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

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

November. Asking rents in ZIP 97216 usually run 0.8% below trend in November and 1.2% above it in August, about $34 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 97216 is 1.5% below its high of $1,714 in December 2025, at $1,688 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97216 changed -1.4% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has fallen 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($70,442) is $1,761 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,580); a 2-bedroom is $1,800.

Rank in Portland

16th cheapest of 27 ZIP codes in Portland.

Cheaper nearby

ZIP 97233, 3 miles away, rents for 12% less ($1,487/mo), about $2,400 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97216. 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

$20,256/yr

At $1,688/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 1.4% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-1.4% YoY, -0.3% MoM), not inventory.

Demographics

Who lives here

ZIP 97216 (Portland, OR) is roughly split between renters and owners, 32.4% of residents hold a bachelor's degree or higher.

Population

16,638

Median income

$70,442

Median age

39.5

Renters

49.3%

Age distribution

20.1%

21%

30%

17.6%

Under 1820.1%

18–3421%

35–5430%

55–6411.2%

65+17.6%

Gender

47.4%

52.6%

Male47.4%

Female52.6%

Race & ethnicity

58.7%

12.5%

12.7%

White58.7%

Black6.2%

Hispanic12.5%

Asian12.7%

Other10%

Education (25+)

23.3%

35%

32.4%

No HS diploma9.4%

HS diploma23.3%

Some college35%

Bachelor's+32.4%

Housing tenure

50.7%

49.3%

Owner50.7%

Renter49.3%

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

2021 vs 2026

How ZIP 97216 in Portland, OR has changed in 5 years

Rent

$1,337 → $1,688

up 26.3%

Income

$55,590 → $70,442

up 26.7%

Population

17,770 → 16,638

down 6.4%

Renter share

44% → 49.3%

+5.3 pts

Bachelor's+

32.6% → 32.4%

-0.2 pts

Median age

38.6 → 39.5

+0.9 yrs

Compared with 2021, rent in ZIP 97216 in Portland, OR has increased by $351 per month, settling near $1,688 after starting the period at $1,337. On the earnings side, the typical household in ZIP 97216 in Portland, OR now reports about $70,442, up from $55,590 in 2021. Headcount in the area went from 17,770 to 16,638 between 2021 and 2024, a 6.4% change. About 49.3% of households rent today, against 44% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 97216 in Portland, OR reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 97216

Last updated: October 17, 2026

ZIP code 97216 covers Portland, OR. The median rent here is $1,688/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 29% of local median household income ($70,442/yr), ZIP 97216 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 1.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97216?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,688/mo in ZIP 97216. The local median household income is $70,442/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97216?

Rent in ZIP 97216 has fallen 1.4% over the past year as of September 2026. It sits 1.5% below its high of $1,714 in December 2025.

When is the cheapest time to rent in ZIP 97216?

Asking rents in ZIP 97216 are usually lowest in November, about 0.8% below their yearly trend, and highest in August, about 1.2% above it. At today's median that is a gap of roughly $34 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 97216 compare to other ZIPs in Oregon?

ZIP 97216 is in the middle among Oregon ZIP codes for rent, ranking #72 of 114 at $1,688/mo. Over the year to September 2026, rent in ZIP 97216 changed -1.4%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.