Average Rent in 97203, Portland, OR

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Current Versus Historical 97203, Portland, OR Rents

97203 rentals average $1,200 for a studio rental to $0 for a 4-bedroom rental. The median price of all currently available listings is $1,599, or roughly $2 per square feet.
For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have decreased by $316 (-20.86%) year-over-year from $1,515 to $1,199. 1-bedroom rentals prices have decreased by $35 (-2.54%) year-over-year from $1,380 to $1,345. 2-bedroom rentals prices have decreased by $184 (-9.97%) year-over-year from $1,847 to $1,663. 3-bedroom rentals prices have increased by $233 (11.23%) year-over-year from $2,072 to $2,305. 4-bedroom rentals prices have decreased by $168 (-5.68%) year-over-year from $2,963 to $2,795. Note that this figure includes all active and rented listings throughout the month.
Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone down by 13.60% this month. 1-bedroom rents have gone up by 2.80% this month. 2-bedroom rents have gone down by 0.25% this month. 3-bedroom rents have gone down by 0.54% this month. 4-bedroom rents have gone down by 2.07% this month.
Beds
Price / Sqft
Apr 2024 Rent 1 Yr Ago Rent (% +/-) 3 Yr Ago Rent (% +/-)
Studio $3.30 $1,199 $1,515 (-20.86%) $1,854 (-35.32%)
1 BR $2.50 $1,345 $1,380 (-2.54%) $1,381 (-2.60%)
2 BR $2.11 $1,663 $1,847 (-9.97%) $1,464 (13.57%)
3 BR $1.82 $2,305 $2,072 (11.23%) $1,970 (17.02%)

Historical Rents in 97203, Portland, OR

Studio
1 Bed
2 Bed
3 Bed
4 Bed

Top Cities Near 97203

There are a total of 5 cities nearby 97203. The average rent in 97203 is currently $1,595 per month. A total of 3 cities nearby have an average rent lower than that. Our records show that Gresham, OR, with an average rent of $1,450, is the most affordable city nearby. In contrast, the most expensive city near 97203, Portland, OR is Hillsboro, OR. Monthly rents here are on average $2,100 per month.

Let's compare 97203, Portland, OR's rent against other top cities nearby by bedroom size. Typically, rent for studios in 97203, Portland, OR is 21.04% more expensive than other cities nearby. One bedrooms are about 1.72% more expensive. Two bedrooms in 97203, Portland, OR are about 0.30% more expensive. Finally, rent for three bedrooms are about 1.61% more affordable. Want more information? Check out the top 5 cities near 97203, Portland, OR in the following chart.
City Studio 1 Bed 2 Bed All
Gresham, OR $948 $1,195 $1,495 $1,450
Portland, OR $1,150 $1,375 $1,645 $1,475
Vancouver, WA $1,238 $1,395 $1,550 $1,595
Beaverton, OR N/A $1,350 $1,695 $1,600
Hillsboro, OR N/A $1,450 $1,750 $2,100

Top Neighborhoods Near 97203

There are a total of 1 neighborhoods in or near 97203. We've included all of these top 1 neighborhoods in or near 97203, Portland, OR in the following chart.

The average rent for these 1 neighborhoods in or near 97203, Portland, OR is currently around $1,299 per month. A total of one neighborhood has a lower average rent. Out of all the neighborhoods in or near 97203, Northwest District has the most affordable average rent at $1,299 per month. Whereas, at $1,299 average rent per month, Northwest District is the most expensive neighborhood in or near 97203. View the following chart for more information.
Neighborhood Studio 1 Bed 2 Bed All
Northwest District, Portland, OR $1,150 $1,412 $1,923 $1,299

Top Counties Near 97203

There are a total of 1 counties located by 97203, Portland, OR. Some of these counties include Multnomah, OR, Clark, WA, and Washington, OR. The average rent for rentals in these counties is $1,730. That's roughly around $2 per sqft. A total of 1 counties have a lower average rent. The county that is the most affordable is Multnomah, OR. It's average rent per month is $1,495. Vice versa, with an average rent of $2,002, Washington, OR is the most expensive county by 97203, Portland, OR.

Typically, rent for studios in 97203, Portland, OR is 4.17% more expensive than other counties nearby. In comparison, rent for one bedroom listings in 97203, Portland, OR is 0.29% more expensive than other counties nearby. Finally, rent for two bedrooms in 97203, Portland, OR is 1.52% more expensive than other counties nearby. We've listed all of these counties in the chart below.
County Studio 1 Bed 2 Bed All
Multnomah, OR $1,150 $1,358 $1,625 $1,495
Clark, WA $1,295 $1,395 $1,595 $1,730
Washington, OR $663 $1,395 $1,695 $2,002

Top Zipcodes Near 97203

There are a total of 8 zipcodes in or near 97203, Portland, OR. The average rent for all of these zipcodes is $1,395. A total of 8 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 97201, Portland, OR at $1,325 per month. In comparison, the zipcode with the most expensive average rent of $1,595 per month is 98661, Vancouver, WA.

Studios in these zipcodes have an average rent of $1,125. That's at least $3 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near 97203, Portland, OR is $1,375 per month. Or in other words, $2 per sqft. Meanwhile, two bedroom apartments will cost you an average of $1,820 per month. Which comes out to $2 per sqft. The following chart includes the top 8 zipcodes in 97203, Portland, OR. You can view the average rent breakdown for each zipcode by bedroom size.
Zipcode Studio 1 Bed 2 Bed All
97217, Portland, OR $1,198 $1,365 $1,895 $1,495
97202, Portland, OR $1,125 $1,395 $1,610 $1,495
97214, Portland, OR $1,200 $1,375 $1,745 $1,385
97209, Portland, OR $1,125 $1,525 $2,255 $1,395
98661, Vancouver, WA N/A $1,198 $1,550 $1,595
97210, Portland, OR $1,195 $1,423 $1,950 $1,395
97233, Portland, OR $1,010 $1,150 $1,350 $1,350
97201, Portland, OR $1,000 $1,375 $2,245 $1,325

Frequently Asked Questions - 97203 Average Rents

What is the average rent price in 97203, Portland, OR?
The average monthly rental price for 97203, Portland, OR apartments for rent is approximately $1,599. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.
Do 97203, Portland, OR rent prices drop in winter?
Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in 97203, Portland, OR.
How much is a studio apartment in 97203, Portland, OR?
The average monthly rental price for studio apartments is $1,200 and an average price per square feet of $3.30. There are a total of 5 studio apartment listings currently available for rent in 97203.
How much is a one bedroom apartment in 97203, Portland, OR?
The average monthly rental price for one bedroom apartments is $1,399 and an average price per square feet of $2.50. There are a total of 15 one bedroom apartment listings currently available for rent in 97203.
How much is a two bedroom apartment in 97203, Portland, OR?
The average monthly rental price for two bedroom apartments is $1,650 and an average price per square feet of $2.11. There are a total of 19 two bedroom apartment listings currently available for rent in 97203.
How have rent prices in 97203, Portland, OR changed this year?
Rent prices for rentals in 97203, Portland, OR can fluctuate yearly. Specifically, studio rental prices have changed by -0.21%, one bedroom rental prices have changed by -0.03%, two bedroom rental prices have changed by -0.10%, and three bedroom rental prices have changed by 0.11% year-over-year.
What is a reasonable rent price in 97203, Portland, OR?
A reasonable rent price in 97203, Portland, OR is around $1,279/month. You can search for these reasonably priced rental listings on RentHop.
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