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ZIP Code · OR

ZIP 97408

Part of Eugene, OR
Pop. 15,420·Lane County·16th most expensive ZIP in Oregon
Median rent (all units)
$2,077/mo
Year-over-Year
+0.9%
Month-over-Month
+1.9%
vs US Median
+$112
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 97408 · $2,077
More expensive than 64% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,550
1 BR
$1,630
2 BR
$2,140
3 BR
$2,980
4 BR+
$3,590
Research median
$2,140/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: July 20, 2026

Annual cost
$24,924/yr
At $2,077/mo median
Location
CityEugene
StateOR
CountyLane County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (0.9% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+0.9% YoY, +1.9% MoM), not inventory.
Demographics

Who lives here

ZIP 97408 (Eugene, OR) is majority owner-occupied, has a large retiree population, has a median income above the national average, 50.3% of residents hold a bachelor's degree or higher.

Population
15,420
Median income
$104,945
Median age
42.5
Renters
34.9%
Age distribution
18.6%
21.5%
23%
12.2%
24.7%
Under 1818.6%
18–3421.5%
35–5423%
55–6412.2%
65+24.7%
Gender
47.7%
52.3%
Male47.7%
Female52.3%
Race & ethnicity
77.7%
White77.7%
Black2.6%
Hispanic8.8%
Asian4.5%
Other6.5%
Education (25+)
13.4%
31.9%
50.3%
No HS diploma4.5%
HS diploma13.4%
Some college31.9%
Bachelor's+50.3%
Housing tenure
65.1%
34.9%
Owner65.1%
Renter34.9%

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

2021 vs 2026

How ZIP 97408 in Eugene, OR has changed in 5 years

Rent
$1,489 → $2,077
up 39.5%
Income
$85,554 → $104,945
up 22.7%
Population
14,405 → 15,420
up 7.0%
Renter share
40.2% → 34.9%
-5.3 pts
Bachelor's+
44.2% → 50.3%
+6.1 pts
Median age
44 → 42.5
-1.5 yrs

Compared with 2021, rent in ZIP 97408 in Eugene, OR has climbed by $588 per month, settling near $2,077 after starting the period at $1,489. Median household income grew from $85,554 to $104,945 between 2021 and 2024, a 22.7% shift. Rent outpaced income growth by roughly 16.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 14,405 to 15,420 between 2021 and 2024, a 7.0% change. About 34.9% of households rent today, against 40.2% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 44.2% to 50.3%. Taken together, the five-year picture in ZIP 97408 in Eugene, 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.

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Local insights

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About renting in ZIP 97408

Last updated: July 20, 2026

ZIP code 97408 covers Eugene, OR. The median rent here is $2,077/mo as of July 2026. A 1-bedroom rents for a median of $1,630/mo. A 2-bedroom rents for a median of $2,140/mo.

At 24% of local median household income ($104,945/yr), ZIP 97408 ranks as affordable compared to the national benchmark of 30%. Rents have increased 0.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 97408?

As of July 20, 2026, the median monthly rent in ZIP 97408 (Eugene, OR) is $2,077. This is based on aggregated data from public sources and community submissions.

How does ZIP 97408 rent compare to the US average?

ZIP 97408's median rent of $2,077/mo is $112 (6%) above the US national median of $1,965/mo.

How does ZIP 97408 compare to other ZIPs in Oregon?

ZIP 97408 is one of the pricier ZIP codes in Oregon, ranking #16 out of 116 ZIPs tracked at $2,077/mo.

How much income do you need to rent in ZIP 97408?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (~$40/hour full-time) to afford the median rent of $2,077/mo in ZIP 97408. The local median household income is $104,945/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 97408?

Rent in ZIP 97408 has increased 0.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 97408 an affordable place to rent?

ZIP 97408 is considered very affordable for renters. At $2,077/mo, rent takes approximately 24% of the local median household income ($104,945/yr). The standard benchmark is 30%. ZIP 97408 falls comfortably within that range.

What percentage of ZIP 97408 residents rent vs. own?

According to Census data, approximately 34.9% of ZIP 97408 households are renters, while 65.1% are owner-occupied. ZIP 97408 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 97408 compare to the rest of Eugene?

ZIP 97408 is pricier than Eugene as a whole. At $2,077/mo, it's $235 above the Eugene citywide median of $1,842/mo.

When was rent data for ZIP 97408 last updated?

Rent data for ZIP 97408 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
24%
VERY AFFORDABLE

At $2,077/mo, rent takes ~24% of ZIP 97408's median household income ($104,945/yr). The standard benchmark is 30%.

ZIP 97408 24%Benchmark 30%
State income tax4.75–9.9%
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Schools nearby

Public schools near ZIP 97408 (Eugene, OR)

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