Zip codes with the fastest growing rent in Portland, Oregon

Written by:
March 25, 2021
realtor.com

Zip codes with the fastest growing rent in Portland

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Portland using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

Zip codes with the fastest growing rent in Portland

Since the start of the 21st century and prior to the coronavirus pandemic, the cost of rent has skyrocketed across America. Every state in the nation saw a spike in the cost of apartments and other residential rentals. Places like Washington D.C., California, and Hawaii have seen rent prices more than double over the past two decades.

While the reasons for rent hikes may vary by locality, one of the major factors for higher costs is the overall decline in homeownership, which hit a peak of 66% in 2000. That, in turn, has led to more Americans turning to rentals, ultimately pushing up the amount landlords can charge. The problem is exacerbated by a shortage of construction workers, which makes it difficult for developers to boost the supply of available housing.

The coronavirus pandemic threw rental properties for a proverbial loop. The Census Bureau in April 2020 launched a Household Pulse Survey providing weekly updates on how individuals and families have been affected during the pandemic. Data show ongoing difficulties in finding work, affording food, and paying the rent. Meanwhile, the pandemic has created a “seesaw effect” on rent, with rental rates in the most expensive U.S. cities dropping while rental rates have gone up in historically less expensive areas.

Stacker compiled a list of zip codes with the fastest growing rent in Portland using data from Zillow. Zip codes are ranked by the change in Zillow Observed Rent Index for all homes and apartments over the last year as of January 2021. Listings and images are from realtor.com.

#30. 97201 (Portland)

- 1 year rent change: -5.7%
- 5 year rent change: -2.8%
- Typical rent: $1,378
--- 17.6% less than typical rent in Portland, OR metro

- Pictured (for rent): 245 SW Lincoln St, Portland 97201 ($2,785)

#29. 97214 (Portland)

- 1 year rent change: -2.0%
- 5 year rent change: +1.6%
- Typical rent: $1,433
--- 14.3% less than typical rent in Portland, OR metro

- Pictured (for rent): 700 SE Cesar E Chavez Blvd, Portland 97214 ($2,400)

#28. 97005 (Beaverton)

- 1 year rent change: -0.8%
- 5 year rent change: +20.6%
- Typical rent: $1,572
--- 6.0% less than typical rent in Portland, OR metro

- Pictured (for rent): 14700 SW Rocket St, Beaverton 97005 ($1,775)

#27. 97239 (Portland)

- 1 year rent change: +0.3%
- 5 year rent change: +7.2%
- Typical rent: $1,707
--- 2.1% above typical rent in Portland, OR metro

- Pictured (for rent): 3833 SW Bond Ave, Portland 97239 ($2,328)

#26. 97030 (Gresham)

- 1 year rent change: +0.4%
- 5 year rent change: +22.5%
- Typical rent: $1,359
--- 18.7% less than typical rent in Portland, OR metro

- Pictured (for rent): 2700 W Powell Blvd, Gresham 97030 ($1,925)

#25. 97225 (Portland)

- 1 year rent change: +0.9%
- 5 year rent change: +17.2%
- Typical rent: $1,497
--- 10.5% less than typical rent in Portland, OR metro

- Pictured (for rent): 10600 SW Taylor St, Portland 97225 ($2,345)

#24. 97211 (Portland)

- 1 year rent change: +1.3%
- 5 year rent change: +9.7%
- Typical rent: $2,108
--- 26.1% above typical rent in Portland, OR metro

- Pictured (for rent): 5470 NE 16th Ave, Portland 97211 ($1,499)

#23. 97003 (Beaverton)

- 1 year rent change: +1.4%
- 5 year rent change: +15.5%
- Typical rent: $1,680
--- 0.5% above typical rent in Portland, OR metro

- Pictured (for rent): 15021 SW Millikan Way, Beaverton 97003 ($2,346)

#22. 97217 (Portland)

- 1 year rent change: +2.2%
- 5 year rent change: +14.1%
- Typical rent: $1,652
--- 1.2% less than typical rent in Portland, OR metro

- Pictured (for rent): 6712 N Montana Ave, Portland 97217 ($1,225)

#21. 97213 (Portland)

- 1 year rent change: +2.3%
- 5 year rent change: +17.6%
- Typical rent: $1,800
--- 7.7% above typical rent in Portland, OR metro

- Pictured (for rent): 2351 NE 51st Ave, Portland 97213 ($2,499)

#20. 97212 (Portland)

- 1 year rent change: +2.5%
- 5 year rent change: +11.5%
- Typical rent: $1,806
--- 8.0% above typical rent in Portland, OR metro

- Pictured (for rent): 3910 NE Tillamook St, Portland 97212 ($2,050)

#19. 97124 (Hillsboro)

- 1 year rent change: +3.1%
- 5 year rent change: +18.4%
- Typical rent: $1,678
--- 0.4% above typical rent in Portland, OR metro

- Pictured (for rent): 2615 NW 194th Ter, Hillsboro 97124 ($2,205)

#18. 97202 (Portland)

- 1 year rent change: +3.1%
- 5 year rent change: +14.4%
- Typical rent: $1,530
--- 8.5% less than typical rent in Portland, OR metro

- Pictured (for rent): 3325 SE Division St, Portland 97202 ($1,995)

#17. 97219 (Portland)

- 1 year rent change: +3.1%
- 5 year rent change: +16.5%
- Typical rent: $1,714
--- 2.5% above typical rent in Portland, OR metro

- Pictured (for rent): 7661 SW Capitol Hwy, Portland 97219 ($1,550)

#16. 97266 (Portland)

- 1 year rent change: +3.8%
- 5 year rent change: +22.0%
- Typical rent: $1,569
--- 6.2% less than typical rent in Portland, OR metro

- Pictured (for rent): 7828 SE Aspen Summit Dr, Portland 97266 ($1,995)

#15. 97008 (Beaverton)

- 1 year rent change: +3.9%
- 5 year rent change: +24.0%
- Typical rent: $1,765
--- 5.6% above typical rent in Portland, OR metro

- Pictured (for rent): 14305 SW Sexton Mountain Dr, Beaverton 97008 ($2,075)

#14. 97068 (West Linn)

- 1 year rent change: +4.7%
- 5 year rent change: +20.4%
- Typical rent: $2,234
--- 33.6% above typical rent in Portland, OR metro

- Pictured (for rent): 4001 Robin Pl, West Linn 97068 ($1,801)

#13. 97229 (Portland)

- 1 year rent change: +4.7%
- 5 year rent change: +15.2%
- Typical rent: $2,255
--- 34.9% above typical rent in Portland, OR metro

- Pictured (for rent): 12425 NW Barnes Rd, Portland 97229 ($1,325)

#12. 97203 (Portland)

- 1 year rent change: +4.7%
- 5 year rent change: +24.0%
- Typical rent: $1,727
--- 3.3% above typical rent in Portland, OR metro

- Pictured (for rent): 7428 N Charleston Ave, Portland 97203 ($1,950)

#11. 97007 (Beaverton)

- 1 year rent change: +4.7%
- 5 year rent change: +18.9%
- Typical rent: $2,036
--- 21.8% above typical rent in Portland, OR metro

- Pictured (for rent): 15170 SW Barrows Rd, Beaverton 97007 ($1,800)

#10. 97006 (Beaverton)

- 1 year rent change: +4.9%
- 5 year rent change: +21.7%
- Typical rent: $1,921
--- 14.9% above typical rent in Portland, OR metro

- Pictured (for rent): 9350 NE Windsor St, Hillsboro 97006 ($2,195)

#9. 97034 (Lake Oswego)

- 1 year rent change: +5.4%
- 5 year rent change: +25.5%
- Typical rent: $2,947
--- 76.3% above typical rent in Portland, OR metro

- Pictured (for rent): 667 McVey Ave, Lake Oswego 97034 ($1,495)

#8. 97220 (Portland)

- 1 year rent change: +5.4%
- 5 year rent change: +28.3%
- Typical rent: $1,692
--- 1.2% above typical rent in Portland, OR metro

- Pictured (for rent): 702 NE 87th Ave, Portland 97220 ($1,325)

#7. 97223 (Portland)

- 1 year rent change: +5.4%
- 5 year rent change: +23.3%
- Typical rent: $1,672
--- 0.0% less than typical rent in Portland, OR metro

- Pictured (for rent): 11255 SW Greenburg Rd, Tigard 97223 ($1,295)

#6. 97123 (Hillsboro)

- 1 year rent change: +5.5%
- 5 year rent change: +23.7%
- Typical rent: $1,859
--- 11.2% above typical rent in Portland, OR metro

- Pictured (for rent): 7001 SE Blanton St, Hillsboro 97123 ($2,645)

#5. 97206 (Portland)

- 1 year rent change: +5.5%
- 5 year rent change: +21.7%
- Typical rent: $1,680
--- 0.5% above typical rent in Portland, OR metro

- Pictured (for rent): 2595 SE 50th Ave, Portland 97206 ($2,600)

#4. 97045 (Oregon City)

- 1 year rent change: +5.8%
- 5 year rent change: +27.6%
- Typical rent: $1,536
--- 8.1% less than typical rent in Portland, OR metro

- Pictured (for rent): 775 Cascade St, Oregon City 97045 ($1,591)

#3. 97140 (Sherwood)

- 1 year rent change: +5.8%
- 5 year rent change: +18.5%
- Typical rent: $2,129
--- 27.3% above typical rent in Portland, OR metro

- Pictured (for rent): 22550 SW Highland Dr, Sherwood 97140 ($1,350)

#2. 97216 (Portland)

- 1 year rent change: +9.6%
- 5 year rent change: +23.6%
- Typical rent: $1,627
--- 2.7% less than typical rent in Portland, OR metro

- Pictured (for rent): 11936 SE Market St, Portland 97216 ($2,000)

#1. 97078 (Aloha)

- 1 year rent change: +10.3%
- 5 year rent change: +26.2%
- Typical rent: $1,786
--- 6.8% above typical rent in Portland, OR metro

- Pictured (for rent): 6300 SW 188th Ct, Beaverton 97078 ($1,605)

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