ZIP Code · OR

ZIP 97230

Part of Portland, OR

Pop. 43,553·Multnomah County·104th most expensive ZIP in Oregon

Median rent (all units)

$1,527/mo

Year-over-Year

+0.1%

Month-over-Month

-0.1%

vs US Median

-$405

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97230 · $1,527

More affordable than 71% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,480

1 BR

$1,580

2 BR

$1,810

3 BR

$2,470

4 BR+

$2,930

Research median

$1,810/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 97230 usually run 1.1% below trend in January and 0.8% above it in September, about $29 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 97230 is 0.3% below its high of $1,532 in April 2026, at $1,527 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97230 changed +0.1% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($75,572) is $1,889 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,810); a 3-bedroom is $2,470.

Rank in Portland

3rd cheapest of 27 ZIP codes in Portland.

From Zillow's monthly rent index (ZORI) for ZIP 97230. 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

$18,324/yr

At $1,527/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 (+0.1% YoY, -0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 97230 (Portland, OR) is majority owner-occupied, 28.7% of residents hold a bachelor's degree or higher.

Population

43,553

Median income

$75,572

Median age

38.7

Renters

39%

Age distribution

21.3%

22.5%

25.4%

12.3%

18.5%

Under 1821.3%

18–3422.5%

35–5425.4%

55–6412.3%

65+18.5%

Gender

49.7%

50.3%

Male49.7%

Female50.3%

Race & ethnicity

52.4%

22.9%

White52.4%

Black11%

Hispanic22.9%

Asian11.5%

Other2.3%

Education (25+)

12.6%

27.3%

31.4%

28.7%

No HS diploma12.6%

HS diploma27.3%

Some college31.4%

Bachelor's+28.7%

Housing tenure

61%

39%

Owner61%

Renter39%

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

2021 vs 2026

How ZIP 97230 in Portland, OR has changed in 5 years

Rent

$1,265 → $1,527

up 20.7%

Income

$62,982 → $75,572

up 20.0%

Population

41,563 → 43,553

up 4.8%

Renter share

36.9% → 39%

+2.1 pts

Bachelor's+

27.9% → 28.7%

+0.8 pts

Median age

39.5 → 38.7

-0.8 yrs

Since 2021, the typical rent in ZIP 97230 in Portland, OR has climbed from $1,265 to $1,527, a 20.7% change over five years. On the earnings side, the typical household in ZIP 97230 in Portland, OR now reports about $75,572, up from $62,982 in 2021. The population has grown by 4.8% since 2021, moving from about 41,563 residents to roughly 43,553. Renters now make up 39% of households, compared with 36.9% five years ago. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 97230 in Portland, OR reflects that arc in its own way.

Community

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About renting in ZIP 97230

Last updated: October 17, 2026

ZIP code 97230 covers Portland, OR. The median rent here is $1,527/mo as of October 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,810/mo.

At 24% of local median household income ($75,572/yr), ZIP 97230 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97230?

To keep rent at or below 30% of gross income, you would need to earn at least $61,000/year (about $29/hour full-time) to afford the median rent of $1,527/mo in ZIP 97230. The local median household income is $75,572/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97230?

Rent in ZIP 97230 has been roughly flat over the past year as of September 2026, a +0.1% change. It sits 0.3% below its high of $1,532 in April 2026.

When is the cheapest time to rent in ZIP 97230?

Asking rents in ZIP 97230 are usually lowest in January, about 1.1% below their yearly trend, and highest in September, about 0.8% above it. At today's median that is a gap of roughly $29 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 97230 compare to other ZIPs in Oregon?

ZIP 97230 is one of the more affordable among Oregon ZIP codes for rent, ranking #104 of 114 at $1,527/mo. Over the year to September 2026, rent in ZIP 97230 changed +0.1%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.