Rental numbers for Multnomah County, OR
The typical home here runs -$2,128 a month at 7.78% with 25% down. 0 of 29 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.0%.
- Gross yield
- 4.1%
- typical home, Zillow
- Median ZIP yield
- 4.0%
- 29 ZIPs with full data
- Cash flow
- -$2,128/mo
- at 7.78%, 25% down
- Typical price
- $500,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $1,694/mo
- Zillow ZORI, Aug 2026
ZIP codes in Multnomah County
31 with published figures
| 97209Portland | $338,000 | $1,786 | 6.3% | 2.7% | -$1,061 | +0.4% |
| 97266Portland | $395,000 | $1,744 | 5.3% | 2.3% | -$1,367 | +0.6% |
| 97206Portland | $463,000 | $2,001 | 5.2% | 2.3% | -$1,594 | +0.9% |
| 97218Portland | $472,000 | $2,007 | 5.1% | 2.2% | -$1,667 | +3.9% |
| 97216Portland | $420,000 | $1,655 | 4.7% | 1.8% | -$1,625 | -1.1% |
| 97203Portland | $445,000 | $1,729 | 4.7% | 1.9% | -$1,677 | n/a |
| 97236Portland | $430,000 | $1,659 | 4.6% | 1.8% | -$1,676 | +3.0% |
| 97030Gresham | $433,000 | $1,664 | 4.6% | 1.9% | -$1,650 | +0.5% |
| 97220Portland | $423,000 | $1,602 | 4.5% | 1.8% | -$1,662 | -2.7% |
| 97233Portland | $399,000 | $1,506 | 4.5% | 1.7% | -$1,588 | -2.7% |
| 97024Fairview | $471,000 | $1,765 | 4.5% | 1.8% | -$1,823 | -3.1% |
| 97201Portland | $429,000 | $1,608 | 4.5% | 1.3% | -$1,856 | +0.5% |
| 97060Troutdale | $478,000 | $1,770 | 4.4% | 1.7% | -$1,909 | +0.5% |
| 97211Portland | $561,000 | $2,048 | 4.4% | 1.9% | -$2,145 | +1.1% |
| 97230Portland | $453,000 | $1,521 | 4.0% | 1.2% | -$1,990 | +0.5% |
| 97217Portland | $494,000 | $1,653 | 4.0% | 1.5% | -$2,043 | +0.3% |
| 97019Corbett | $654,000 | $2,170* | 4.0% | 1.7% | -$2,583 | n/a |
| 97239Portland | $594,000 | $1,928 | 3.9% | 0.9% | -$2,746 | -1.4% |
| 97205Portland | $494,000 | $1,586 | 3.9% | 0.6% | -$2,431 | -1.0% |
| 97080Gresham | $514,000 | $1,648 | 3.9% | 1.2% | -$2,254 | -0.1% |
| 97213Portland | $548,000 | $1,735 | 3.8% | 1.1% | -$2,431 | +0.3% |
| 97219Portland | $631,000 | $1,942 | 3.7% | 0.9% | -$2,931 | +1.8% |
| 97212Portland | $789,000 | $2,267 | 3.5% | 0.9% | -$3,679 | +5.0% |
| 97227Portland | $553,000 | $1,536 | 3.3% | 1.1% | -$2,458 | +1.0% |
| 97215Portland | $650,000 | $1,726 | 3.2% | 0.6% | -$3,167 | -0.0% |
| 97202Portland | $628,000 | $1,660 | 3.2% | 0.6% | -$3,063 | -0.9% |
| 97221Portland | $755,000 | $1,936 | 3.1% | 0.4% | -$3,827 | +4.5% |
| 97231Portland | $704,000 | $1,800* | 3.1% | 0.7% | -$3,400 | n/a |
| 97214Portland | $677,000 | $1,682 | 3.0% | 0.5% | -$3,350 | +2.2% |
| 97232Portland | $654,000 | $1,546 | 2.8% | 0.3% | -$3,368 | +2.0% |
| 97210Portland | $685,000 | $1,560 | 2.7% | 0.2% | -$3,578 | -0.3% |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +0.0%
- Rent, 12 months
- +0.7%
- Rent minus price growth
- +0.7 pts
- Property tax
- 0.96%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $504,140 | $1,505 |
| Aug 2022 | $537,472 | $1,616 |
| Aug 2023 | $503,771 | $1,608 |
| Aug 2024 | $503,206 | $1,648 |
| Aug 2025 | $499,416 | $1,682 |
| Aug 2026 | $499,598 | $1,694 |
HUD Fair Market Rent
FY2027, Portland-Vancouver-Hillsboro, OR-WA MSA
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,527 | $1,633 | $1,878 | $2,550 | $3,069 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 5.6
- 1,973 units, last 12 months
- National percentile
- 52th
- among US counties
Tools
Test a listing in Multnomah County against today's rate.
Open the calculatorPart of the Portland, OR metro.
Questions
- Is Multnomah County good for rental property?
- The typical home here runs -$2,128 a month at 7.78% with 25% down. 0 of 29 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.0%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Multnomah County?
- About 0.96% of value, from Census ACS median taxes paid over median home value. On a $500,000 home that is about $4,791 a year.
- What is Fair Market Rent in Multnomah County?
- HUD's FY2027 Fair Market Rent here is $1,633 for a 1-bedroom, $1,878 for a 2-bedroom and $2,550 for a 3-bedroom. Typical cash flow at today's rate is -$2,128 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.