ZIP Code · OR

ZIP 97703

Part of Bend, OR

Pop. 34,108·Deschutes County·2nd most expensive ZIP in Oregon

Median rent (all units)

$2,724/mo

Year-over-Year

+5.0%

Month-over-Month

+0.7%

vs US Median

+$792

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 97703 · $2,724

More expensive than 85% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,500

1 BR

$1,510

2 BR

$1,970

3 BR

$2,740

4 BR+

$3,300

Research median

$1,970/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

December. Asking rents in ZIP 97703 usually run 1.8% below trend in December and 1.9% above it in June, about $101 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 97703 is at its highest level since Zillow's records here began in November 2020.

Past year vs. the rest of Oregon

Rent in ZIP 97703 changed +5.0% 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 2 months in a row, and rose in 11 of the last 12 months.

What a typical income covers

30% of the median household income ($120,841) is $3,021 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($2,740); a 4-bedroom is $3,300.

Rank in Bend

3rd cheapest of 3 ZIP codes in Bend.

Cheaper nearby

ZIP 97702, 1 mile away, rents for 17% less ($2,257/mo), about $5,600 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 97703. 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

$32,688/yr

At $2,724/mo median

Location

CityBend

StateOR

CountyDeschutes County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 5.0% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+5.0% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 97703 (Bend, OR) is majority owner-occupied, has a large retiree population, has a median income above the national average, 62.2% of residents hold a bachelor's degree or higher.

Population

34,108

Median income

$120,841

Median age

Renters

23%

Age distribution

16.2%

18.5%

28.6%

15.1%

21.6%

Under 1816.2%

18–3418.5%

35–5428.6%

55–6415.1%

65+21.6%

Gender

51.3%

48.7%

Male51.3%

Female48.7%

Race & ethnicity

87.2%

White87.2%

Hispanic5.5%

Asian1.6%

Other5.5%

Education (25+)

26.1%

62.2%

No HS diploma1%

HS diploma10.6%

Some college26.1%

Bachelor's+62.2%

Housing tenure

77%

23%

Owner77%

Renter23%

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

2021 vs 2026

How ZIP 97703 in Bend, OR has changed in 5 years

Rent

$2,152 → $2,724

up 26.6%

Income

$99,930 → $120,841

up 20.9%

Population

32,918 → 34,108

up 3.6%

Renter share

24.7% → 23%

-1.7 pts

Bachelor's+

58.6% → 62.2%

+3.6 pts

Median age

43.7 → 46

+2.3 yrs

Compared with 2021, rent in ZIP 97703 in Bend, OR has increased by $572 per month, settling near $2,724 after starting the period at $2,152. Local incomes tracked alongside that move, going from a median of $99,930 in 2021 to $120,841 more recently. Rent outpaced income growth by roughly 5.7 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 32,918 to 34,108 between 2021 and 2024, a 3.6% change. About 23% of households rent today, against 24.7% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 58.6% to 62.2%. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 97703 in Bend, OR market of 2021.

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About renting in ZIP 97703

Last updated: October 17, 2026

ZIP code 97703 covers Bend, OR. The median rent here is $2,724/mo as of October 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,970/mo.

At 27% of local median household income ($120,841/yr), ZIP 97703 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.0% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 97703?

To keep rent at or below 30% of gross income, you would need to earn at least $109,000/year (about $52/hour full-time) to afford the median rent of $2,724/mo in ZIP 97703. The local median household income is $120,841/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 97703?

Rent in ZIP 97703 has risen 5.0% over the past year as of September 2026. That is the highest level since Zillow's records here began in November 2020.

When is the cheapest time to rent in ZIP 97703?

Asking rents in ZIP 97703 are usually lowest in December, about 1.8% below their yearly trend, and highest in June, about 1.9% above it. At today's median that is a gap of roughly $101 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 97703 compare to other ZIPs in Oregon?

ZIP 97703 is one of the pricier among Oregon ZIP codes for rent, ranking #2 of 114 at $2,724/mo. Over the year to September 2026, rent in ZIP 97703 changed +5.0%, against a typical +1.6% across the 106 Oregon ZIP codes Zillow tracks.