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ZIP Code · OR

ZIP 97232

Part of Portland, OR
Pop. 15,615·Multnomah County·101st most expensive ZIP in Oregon
Median rent (all units)
$1,554/mo
Year-over-Year
-0.5%
Month-over-Month
-1.5%
vs US Median
-$408
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 97232 · $1,554
More affordable than 70% of US ZIP codes · National median $1,962/mo
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Medians by bedroom

Rent by unit size

Studio
$1,146
1 BR
$1,224
2 BR
$1,402
3 BR
$1,907
4 BR+
$2,270
Research median
$1,402/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: August 17, 2026

Annual cost
$18,648/yr
At $1,554/mo median
Location
StateOR
CountyMultnomah County
Rent Market Meter
Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are softening (down 0.5% YoY), so renters have negotiating leverage.
Based on rent-price momentum (-0.5% YoY, -1.5% MoM), not inventory.
Demographics

Who lives here

ZIP 97232 (Portland, OR) is majority renter-occupied, skews toward younger working-age adults, 65.4% of residents hold a bachelor's degree or higher.

Population
15,615
Median income
$70,895
Median age
35.6
Renters
73%
Age distribution
37.7%
27.1%
13.9%
Under 1811.1%
18–3437.7%
35–5427.1%
55–6410.2%
65+13.9%
Gender
53.7%
46.3%
Male53.7%
Female46.3%
Race & ethnicity
68.4%
14.3%
White68.4%
Black6.2%
Hispanic14.3%
Asian4.8%
Other6.3%
Education (25+)
23.5%
65.4%
No HS diploma3.5%
HS diploma7.6%
Some college23.5%
Bachelor's+65.4%
Housing tenure
27%
73%
Owner27%
Renter73%

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

2021 vs 2026

How ZIP 97232 in Portland, OR has changed in 5 years

Rent
$1,385 → $1,554
up 12.2%
Income
$67,591 → $70,895
up 4.9%
Population
14,780 → 15,615
up 5.6%
Renter share
73.5% → 73%
-0.5 pts
Bachelor's+
66.5% → 65.4%
-1.1 pts

Five years ago, renters in ZIP 97232 in Portland, OR paid around $1,385 a month. That figure now sits near $1,554, up 12.2% from the 2021 baseline. Median household income climbed from $67,591 to $70,895 between 2021 and 2024, a 4.9% shift. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 97232 in Portland, OR adding about 835 residents over the five-year window, up 5.6% on net. Taken together, the five-year picture in ZIP 97232 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.

Community

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Local insights

Tips for renters in ZIP 97232

About renting in ZIP 97232

Last updated: August 17, 2026

ZIP code 97232 covers Portland, OR. The median rent here is $1,554/mo as of August 2026. A 1-bedroom rents for a median of $1,224/mo. A 2-bedroom rents for a median of $1,402/mo.

At 26% of local median household income ($70,895/yr), ZIP 97232 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97232?

As of August 17, 2026, the median monthly rent in ZIP 97232 (Portland, OR) is $1,554. This is based on aggregated data from public sources and community submissions.

How does ZIP 97232 rent compare to the US average?

ZIP 97232's median rent of $1,554/mo is $408 (21%) below the US national median of $1,962/mo.

How does ZIP 97232 compare to other ZIPs in Oregon?

ZIP 97232 is among the more affordable ZIP codes in Oregon, ranking #101 out of 115 ZIPs at $1,554/mo.

How much income do you need to rent in ZIP 97232?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,554/mo in ZIP 97232. The local median household income is $70,895/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97232?

Rent in ZIP 97232 has decreased 0.5% over the past year as of August 17, 2026, offering some relief compared to 12 months ago.

Is ZIP 97232 an affordable place to rent?

ZIP 97232 is considered affordable for renters. At $1,554/mo, rent takes approximately 26% of the local median household income ($70,895/yr). The standard benchmark is 30%. ZIP 97232 falls comfortably within that range.

What percentage of ZIP 97232 residents rent vs. own?

According to Census data, approximately 73% of ZIP 97232 households are renters, while 27% are owner-occupied. With a majority renter population, ZIP 97232 has a strong rental market.

How does ZIP 97232 compare to the rest of Portland?

ZIP 97232 is more affordable than Portland overall. At $1,554/mo, it's $169 below the Portland citywide median of $1,723/mo.

When was rent data for ZIP 97232 last updated?

Rent data for ZIP 97232 reflects August 17, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $1,554/mo, rent takes ~26% of ZIP 97232's median household income ($70,895/yr). The standard benchmark is 30%.

ZIP 97232 26%Benchmark 30%
State income tax4.75–9.9%
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