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12-month history
Last updated: October 17, 2026
What the numbers show
Rent in ZIP 97404 is 1.4% below its high of $1,991 in January 2026, at $1,963 as of September 2026.
Rent in ZIP 97404 changed +1.2% over the year to September 2026. Across the 106 Oregon ZIP codes Zillow tracks, the typical change was +1.6%.
Rent has fallen 2 months in a row, and rose in 7 of the last 12 months.
30% of the median household income ($86,776) is $2,169 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,730); a 3-bedroom is $2,410.
5th cheapest of 6 ZIP codes in Eugene.
ZIP 97401, 4 miles away, rents for 17% less ($1,638/mo), about $3,900 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 97404. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Who lives here
ZIP 97404 (Eugene, OR) is majority owner-occupied, has a large retiree population, 33% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 97404 in Eugene, OR has changed in 5 years
Five years ago, renters in ZIP 97404 in Eugene, OR paid around $1,681 a month. That figure now sits near $1,963, up 16.8% from the 2022 baseline. Census figures show median household income at $86,776 today, compared with $72,385 five years earlier. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 97404 in Eugene, OR losing about 381 residents over the five-year window, down 1.1% on net. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.
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Tips for renters in ZIP 97404
Last updated: October 17, 2026
ZIP code 97404 covers Eugene, OR. The median rent here is $1,963/mo as of October 2026. A 1-bedroom rents for a median of $1,320/mo. A 2-bedroom rents for a median of $1,730/mo.
At 27% of local median household income ($86,776/yr), ZIP 97404 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.2% over the past year.
Frequently asked questions
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Is rent going up or down in ZIP 97404?
How does ZIP 97404 compare to other ZIPs in Oregon?
How does ZIP 97404 compare to the rest of Eugene?
At $1,963/mo, rent takes ~27% of ZIP 97404's median household income ($86,776/yr). The standard benchmark is 30%.
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