ZIP Code · OR

ZIP 97504

Part of Medford, OR

Pop. 51,089·Jackson County·45th most expensive ZIP in Oregon

Median rent (all units)

$1,850/mo

Year-over-Year

+1.5%

Month-over-Month

-0.2%

vs US Median

-$82

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 97504 · $1,850

More expensive than 52% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,080

1 BR

$1,260

2 BR

$1,570

3 BR

$2,180

4 BR+

$2,580

Research median

$1,570/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 97504 is 1.2% below its high of $1,872 in May 2026, at $1,850 as of September 2026.

Past year vs. the rest of Oregon

Rent in ZIP 97504 changed +1.5% 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 3 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($83,923) is $2,098 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,570); a 3-bedroom is $2,180.

From Zillow's monthly rent index (ZORI) for ZIP 97504. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,200/yr

At $1,850/mo median

Location

CityMedford

StateOR

CountyJackson 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 (+1.5% YoY, -0.2% MoM), not inventory.

Demographics

Who lives here

ZIP 97504 (Medford, OR) is majority owner-occupied, has a large retiree population, 38.3% of residents hold a bachelor's degree or higher.

Population

51,089

Median income

$83,923

Median age

Renters

36.3%

Age distribution

22.6%

18.9%

23.1%

23.9%

Under 1822.6%

18–3418.9%

35–5423.1%

55–6411.5%

65+23.9%

Gender

49.6%

50.4%

Male49.6%

Female50.4%

Race & ethnicity

79.3%

15.5%

White79.3%

Black1.2%

Hispanic15.5%

Asian1.7%

Other2.3%

Education (25+)

23.6%

31.8%

38.3%

No HS diploma6.3%

HS diploma23.6%

Some college31.8%

Bachelor's+38.3%

Housing tenure

63.7%

36.3%

Owner63.7%

Renter36.3%

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

2022 vs 2026

How ZIP 97504 in Medford, OR has changed in 5 years

Rent

$1,610 → $1,850

up 14.9%

Income

$68,854 → $83,923

up 21.9%

Population

49,370 → 51,089

up 3.5%

Renter share

38.5% → 36.3%

-2.2 pts

Bachelor's+

36.4% → 38.3%

+1.9 pts

Rent in ZIP 97504 in Medford, OR has climbed 14.9% since 2022, going from about $1,610 per month to roughly $1,850 today. Census figures show median household income at $83,923 today, compared with $68,854 five years earlier. Income growth outran rent by about 7.0 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 49,370 to 51,089 between 2021 and 2024, a 3.5% change. About 36.3% of households rent today, against 38.5% in 2021. The combined trend lines point to a market that has changed measurably from where it stood in early 2022.

Community

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About renting in ZIP 97504

Last updated: October 17, 2026

ZIP code 97504 covers Medford, OR. The median rent here is $1,850/mo as of October 2026. A 1-bedroom rents for a median of $1,260/mo. A 2-bedroom rents for a median of $1,570/mo.

At 26% of local median household income ($83,923/yr), ZIP 97504 ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.5% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97504?

To keep rent at or below 30% of gross income, you would need to earn at least $74,000/year (about $36/hour full-time) to afford the median rent of $1,850/mo in ZIP 97504. The local median household income is $83,923/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97504?

Rent in ZIP 97504 has risen 1.5% over the past year as of September 2026. It sits 1.2% below its high of $1,872 in May 2026.

How does ZIP 97504 compare to other ZIPs in Oregon?

ZIP 97504 is in the middle among Oregon ZIP codes for rent, ranking #45 of 114 at $1,850/mo. Over the year to September 2026, rent in ZIP 97504 changed +1.5%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.