The PHA sets a payment standard ranging from 90% to 110% of the Fair Market Rents (FMRs).

Portland, OR 97224's Section 8 Fair Market Rent

In the year 2024, as a landlord, if you're looking to rent your property to a Section 8 tenant or another housing voucher program in the 97224 zip code area, you can consider the following rental prices based on HUD income limits.

Efficiency:The efficiency rental rates range from a low of $1,449 to a high of $1,771, with an average of $1,610.
One-bedroom: One-bedroom rental prices vary, with a minimum of $1,566, a maximum of $1,914, and an average of $1,740.
Two-bedroom: The rental rates for two-bedroom apartments exhibit a range, starting at a minimum of $1,782, peaking at a maximum of $2,178, and averaging at $1,980.
Three-bedroom: Three-bedroom rental rates exhibit a range, with a minimum of $2,475, a maximum of $3,025, and an average of $2,750.
Four-bedroom: The rental prices for four-bedroom properties fluctuate, ranging from a minimum of $2,862 to a maximum of $3,498, with an average of $3,180.

The fair market rent mentioned already includes all utilities. If a landlord chooses not to provide utility coverage, they can subtract the utility costs from the rent to determine the adjusted rental price.

Each housing authority establishes its own rental rates, so you should check the pricing set by that specific housing authority to determine the maximum amount they can offer. It's advisable to adhere to their pricing guidelines.

HUD's Fair Market Rent guides Section 8 rates for your rental unit.

Year City, State, Zipcode HUD Fair Market Rent Bedrooms
Studio 1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
2024 Portland, OR 97224 Low Rent (90%) $1,449 $1,566 $1,782 $2,475 $2,862
Average Rent $1,610 $1,740 $1,980 $2,750 $3,180
High Rent(110%) $1,771 $1,914 $2,178 $3,025 $3,498
2023 Portland, OR 97224 Low Rent (90%) $1,359 $1,458 $1,665 $2,331 $2,709
Average Rent $1,510 $1,620 $1,850 $2,590 $3,010
High Rent (110%) $1,661 $1,782 $2,035 $2,849 $3,311
2022 Portland, OR 97224 Low Rent (90%) $1,278 $1,368 $1,566 $2,214 $2,619
Average Rent $1,420 $1,520 $1,740 $2,460 $2,910
High Rent(110%) $1,562 $1,672 $1,914 $2,706 $3,201
2021 Portland, OR 97224 Low Rent (90%) $1,134 $1,206 $1,395 $1,989 $2,412
Average Rent $1,260 $1,340 $1,550 $2,210 $2,680
High Rent (110%) $1,386 $1,474 $1,705 $2,431 $2,948
2020 Portland, OR 97224 Low Rent (90%) $1,134 $1,224 $1,422 $2,052 $2,493
Average Rent $1,260 $1,360 $1,580 $2,280 $2,770
High Rent(110%) $1,386 $1,496 $1,738 $2,508 $3,047
2019 Portland, OR 97224 Low Rent (90%) $1,089 $1,188 $1,386 $2,007 $2,430
Average Rent $1,210 $1,320 $1,540 $2,230 $2,700
High Rent (110%) $1,331 $1,452 $1,694 $2,453 $2,970


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