ZIP Code · OR

ZIP 97218

Part of Portland, OR

Pop. 15,428·Multnomah County·13th most expensive ZIP in Oregon

Median rent (all units)

$2,099/mo

Year-over-Year

+6.1%

Month-over-Month

+1.4%

vs US Median

+$167

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 97218 · $2,099

More expensive than 66% of US ZIP codes · National median $1,932/mo

Rent check

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,500

1 BR

$1,610

2 BR

$1,840

3 BR

$2,510

4 BR+

$2,980

Research median

$1,840/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

Past year vs. the rest of Oregon

Rent in ZIP 97218 changed +6.1% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($88,924) is $2,223 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,840); a 3-bedroom is $2,510.

Rank in Portland

24th cheapest of 27 ZIP codes in Portland.

Cheaper nearby

ZIP 97213, 3 miles away, rents for 22% less ($1,643/mo), about $5,500 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97218. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,188/yr

At $2,099/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 6.1% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+6.1% YoY, +1.4% MoM), not inventory.

Demographics

Who lives here

ZIP 97218 (Portland, OR) is majority owner-occupied, 51% of residents hold a bachelor's degree or higher.

Population

15,428

Median income

$88,924

Median age

Renters

42.1%

Age distribution

18.5%

27.8%

34.3%

Under 1818.5%

18–3427.8%

35–5434.3%

55–649.3%

65+10%

Gender

47.3%

52.7%

Male47.3%

Female52.7%

Race & ethnicity

55.4%

19.9%

White55.4%

Black11.1%

Hispanic19.9%

Asian6.3%

Other7.3%

Education (25+)

13.3%

26.8%

51%

No HS diploma8.9%

HS diploma13.3%

Some college26.8%

Bachelor's+51%

Housing tenure

57.9%

42.1%

Owner57.9%

Renter42.1%

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

2021 vs 2026

How ZIP 97218 in Portland, OR has changed in 5 years

Income

$73,602 → $88,924

up 20.8%

Population

15,468 → 15,428

down 0.3%

Renter share

41.7% → 42.1%

+0.4 pts

Bachelor's+

44.7% → 51%

+6.3 pts

Median age

34.8 → 37

+2.2 yrs

Household income in the area moved from $73,602 to $88,924 across the same window, up 20.8% versus 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 44.7% to 51%.

Community

Discussions about ZIP 97218

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Local insights

Tips for renters in ZIP 97218

About renting in ZIP 97218

Last updated: October 17, 2026

ZIP code 97218 covers Portland, OR. The median rent here is $2,099/mo as of October 2026. A 1-bedroom rents for a median of $1,610/mo. A 2-bedroom rents for a median of $1,840/mo.

At 28% of local median household income ($88,924/yr), ZIP 97218 ranks as affordable compared to the national benchmark of 30%. Rents have increased 6.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97218?

To keep rent at or below 30% of gross income, you would need to earn at least $84,000/year (about $40/hour full-time) to afford the median rent of $2,099/mo in ZIP 97218. The local median household income is $88,924/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97218?

Rent in ZIP 97218 has risen 6.1% over the past year.

How does ZIP 97218 compare to other ZIPs in Oregon?

ZIP 97218 is one of the pricier among Oregon ZIP codes for rent, ranking #13 of 114 at $2,099/mo. Over the year to September 2026, rent in ZIP 97218 changed +6.1%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.