ZIP Code · OR

ZIP 97221

Part of Portland, OR

Pop. 12,915·Multnomah County·10th most expensive ZIP in Oregon

Median rent (all units)

$2,192/mo

Year-over-Year

+4.4%

Month-over-Month

+0.5%

vs US Median

+$260

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97221 · $2,192

More expensive than 70% 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

$1,600

1 BR

$1,710

2 BR

$1,960

3 BR

$2,670

4 BR+

$3,170

Research median

$1,960/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 97221 changed +4.4% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has risen 6 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($145,671) is $3,642 a month. That covers HUD's Fair Market Rent for up to a 4-bedroom ($3,170).

Rank in Portland

25th cheapest of 27 ZIP codes in Portland.

Cheaper nearby

ZIP 97205, 2 miles away, rents for 26% less ($1,617/mo), about $6,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97221. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$26,304/yr

At $2,192/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (4.4% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+4.4% YoY, +0.5% MoM), not inventory.

Demographics

Who lives here

ZIP 97221 (Portland, OR) is majority owner-occupied, has a median income above the national average, 76.6% of residents hold a bachelor's degree or higher.

Population

12,915

Median income

$145,671

Median age

42.9

Renters

28.8%

Age distribution

22.2%

15.6%

29.9%

12.2%

20%

Under 1822.2%

18–3415.6%

35–5429.9%

55–6412.2%

65+20%

Gender

47%

53%

Male47%

Female53%

Race & ethnicity

75.4%

White75.4%

Black1.3%

Hispanic5.6%

Asian7.2%

Other10.6%

Education (25+)

14.9%

76.6%

No HS diploma0.7%

HS diploma7.7%

Some college14.9%

Bachelor's+76.6%

Housing tenure

71.2%

28.8%

Owner71.2%

Renter28.8%

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

2021 vs 2026

How ZIP 97221 in Portland, OR has changed in 5 years

Income

$124,449 → $145,671

up 17.1%

Population

12,974 → 12,915

down 0.5%

Renter share

28.7% → 28.8%

+0.1 pts

Bachelor's+

73.4% → 76.6%

+3.2 pts

Median age

43.7 → 42.9

-0.8 yrs

Local incomes tracked alongside that move, going from a median of $124,449 in 2021 to $145,671 more recently. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 73.4% to 76.6%.

Community

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Local insights

Tips for renters in ZIP 97221

About renting in ZIP 97221

Last updated: October 17, 2026

ZIP code 97221 covers Portland, OR. The median rent here is $2,192/mo as of October 2026. A 1-bedroom rents for a median of $1,710/mo. A 2-bedroom rents for a median of $1,960/mo.

At 18% of local median household income ($145,671/yr), ZIP 97221 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.4% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97221?

To keep rent at or below 30% of gross income, you would need to earn at least $88,000/year (about $42/hour full-time) to afford the median rent of $2,192/mo in ZIP 97221. The local median household income is $145,671/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97221?

Rent in ZIP 97221 has risen 4.4% over the past year.

How does ZIP 97221 compare to other ZIPs in Oregon?

ZIP 97221 is one of the pricier among Oregon ZIP codes for rent, ranking #10 of 114 at $2,192/mo. Over the year to September 2026, rent in ZIP 97221 changed +4.4%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.