ZIP Code · OR

ZIP 97266

Part of Portland, OR

Pop. 35,423·Multnomah County·64th most expensive ZIP in Oregon

Median rent (all units)

$1,757/mo

Year-over-Year

+2.9%

Month-over-Month

+0.8%

vs US Median

-$175

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 97266 · $1,757

More affordable than 54% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,510

1 BR

$1,610

2 BR

$1,850

3 BR

$2,520

4 BR+

$2,990

Research median

$1,850/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

March. Asking rents in ZIP 97266 usually run 1.1% below trend in March and 1% above it in July, about $37 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 97266 is at its highest level since Zillow's records here began in December 2020.

Past year vs. the rest of Oregon

Rent in ZIP 97266 changed +2.9% 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 5 months in a row, and rose in 9 of the last 12 months.

What a typical income covers

30% of the median household income ($72,577) is $1,814 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,610); a 2-bedroom is $1,850.

Rank in Portland

18th cheapest of 27 ZIP codes in Portland.

Cheaper nearby

ZIP 97233, 3 miles away, rents for 15% less ($1,487/mo), about $3,200 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97266. 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

$21,084/yr

At $1,757/mo median

Location

CityPortland

StateOR

CountyMultnomah County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.9% YoY, +0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 97266 (Portland, OR) is roughly split between renters and owners, 28.3% of residents hold a bachelor's degree or higher.

Population

35,423

Median income

$72,577

Median age

38.6

Renters

45.9%

Age distribution

20.8%

22.7%

30.7%

12.6%

13.2%

Under 1820.8%

18–3422.7%

35–5430.7%

55–6412.6%

65+13.2%

Gender

51.6%

48.4%

Male51.6%

Female48.4%

Race & ethnicity

53.6%

16.1%

15.7%

White53.6%

Black7.3%

Hispanic16.1%

Asian15.7%

Other7.3%

Education (25+)

16.1%

26.3%

29.3%

28.3%

No HS diploma16.1%

HS diploma26.3%

Some college29.3%

Bachelor's+28.3%

Housing tenure

54.1%

45.9%

Owner54.1%

Renter45.9%

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

2021 vs 2026

How ZIP 97266 in Portland, OR has changed in 5 years

Rent

$1,398 → $1,757

up 25.7%

Income

$63,274 → $72,577

up 14.7%

Population

35,371 → 35,423

up 0.1%

Renter share

43.2% → 45.9%

+2.7 pts

Bachelor's+

26.9% → 28.3%

+1.4 pts

Across the past five years, the going rent in ZIP 97266 in Portland, OR has shifted from $1,398 to $1,757, up 25.7% since 2021. Household income in the area moved from $63,274 to $72,577 across the same window, up 14.7% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. The renter share has risen from 43.2% to 45.9%, with owner-occupied housing accounting for the remainder. Reading these numbers side by side helps frame whether current listings in ZIP 97266 in Portland, OR look reasonable against where the market sat half a decade ago.

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About renting in ZIP 97266

Last updated: October 17, 2026

ZIP code 97266 covers Portland, OR. The median rent here is $1,757/mo as of October 2026. A 1-bedroom rents for a median of $1,610/mo. A 2-bedroom rents for a median of $1,850/mo.

At 29% of local median household income ($72,577/yr), ZIP 97266 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97266?

To keep rent at or below 30% of gross income, you would need to earn at least $70,000/year (about $34/hour full-time) to afford the median rent of $1,757/mo in ZIP 97266. The local median household income is $72,577/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97266?

Rent in ZIP 97266 has risen 2.9% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2020.

When is the cheapest time to rent in ZIP 97266?

Asking rents in ZIP 97266 are usually lowest in March, about 1.1% below their yearly trend, and highest in July, about 1% above it. At today's median that is a gap of roughly $37 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 97266 compare to other ZIPs in Oregon?

ZIP 97266 is in the middle among Oregon ZIP codes for rent, ranking #64 of 114 at $1,757/mo. Over the year to September 2026, rent in ZIP 97266 changed +2.9%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.