ZIP Code · OR

ZIP 97355

Part of Lebanon, OR

Pop. 34,292·Linn County·103rd most expensive ZIP in Oregon

Median rent (all units)

$1,531/mo

Year-over-Year

+1.1%

Month-over-Month

-0.6%

vs US Median

-$401

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 97355 · $1,531

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

$1,050

1 BR

$1,250

2 BR

$1,520

3 BR

$2,060

4 BR+

$2,390

Research median

$1,520/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

Compared with the peak

Rent in ZIP 97355 is 1.9% below its high of $1,560 in April 2026, at $1,531 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97355 changed +1.1% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.

Recent direction

Rent has fallen 5 months in a row, and rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($68,595) is $1,715 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,520); a 3-bedroom is $2,060.

From Zillow's monthly rent index (ZORI) for ZIP 97355. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,372/yr

At $1,531/mo median

Location

CityLebanon

StateOR

CountyLinn 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 (+1.1% YoY, -0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 97355 (Lebanon, OR) is majority owner-occupied, has a large retiree population, 18.9% of residents hold a bachelor's degree or higher.

Population

34,292

Median income

$68,595

Median age

41.2

Renters

31.7%

Age distribution

20%

23.1%

22.3%

13.2%

21.3%

Under 1820%

18–3423.1%

35–5422.3%

55–6413.2%

65+21.3%

Gender

49.5%

50.5%

Male49.5%

Female50.5%

Race & ethnicity

88.8%

White88.8%

Black0.6%

Hispanic7.5%

Asian1.2%

Other1.9%

Education (25+)

33.4%

40.2%

18.9%

No HS diploma7.5%

HS diploma33.4%

Some college40.2%

Bachelor's+18.9%

Housing tenure

68.3%

31.7%

Owner68.3%

Renter31.7%

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

2023 vs 2026

How ZIP 97355 in Lebanon, OR has changed in 5 years

Rent

$1,484 → $1,531

up 3.2%

Income

$57,077 → $68,595

up 20.2%

Population

31,643 → 34,292

up 8.4%

Renter share

32.5% → 31.7%

-0.8 pts

Bachelor's+

18% → 18.9%

+0.9 pts

Median age

42 → 41.2

-0.8 yrs

Rent in ZIP 97355 in Lebanon, OR has climbed 3.2% since 2023, going from about $1,484 per month to roughly $1,531 today. Household income in the area moved from $57,077 to $68,595 across the same window, up 20.2% versus 2021. Income growth outran rent by about 17.0 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 31,643 to 34,292 between 2021 and 2024, a 8.4% change. Reading these numbers side by side helps frame whether current listings in ZIP 97355 in Lebanon, OR look reasonable against where the market sat half a decade ago.

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About renting in ZIP 97355

Last updated: October 17, 2026

ZIP code 97355 covers Lebanon, OR. The median rent here is $1,531/mo as of October 2026. A 1-bedroom rents for a median of $1,250/mo. A 2-bedroom rents for a median of $1,520/mo.

At 27% of local median household income ($68,595/yr), ZIP 97355 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97355?

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 $1,531/mo in ZIP 97355. The local median household income is $68,595/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97355?

Rent in ZIP 97355 has risen 1.1% over the past year as of September 2026. It sits 1.9% below its high of $1,560 in April 2026.

How does ZIP 97355 compare to other ZIPs in Oregon?

ZIP 97355 is one of the more affordable among Oregon ZIP codes for rent, ranking #103 of 114 at $1,531/mo. Over the year to September 2026, rent in ZIP 97355 changed +1.1%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.