What it costs to live in Portland (Portland-Vancouver-Hillsboro, OR-WA): what HUD considers a fair rent by number of bedrooms, the median household income of the metro area@if ($m['local_income_tax']) and the local income tax@endif, from official sources.
| Portland | Source | |
|---|---|---|
| Population of the metro area | 2,542,282 (2025) | US Census Bureau, Metropolitan and Micropolitan Statistical Areas Population Totals: 2020-2025 (Vintage 2025, cbsa-est2025-alldata.csv) |
| Fair market rent, studio | $1,570 a month | HUD User, FY2026 Fair Market Rents, revised (FY26_FMRs_revised.xlsx) |
| Fair market rent, 1 bedroom | $1,677 a month | |
| Fair market rent, 2 bedrooms | $1,922 a month | |
| Fair market rent, 3 bedrooms | $2,619 a month | |
| Median household income | $98,994 a year (2024) | US Census Bureau, American Community Survey 2024 1-year, table B19013 Median household income (summary file) |
| Local income tax | 1.5% to 3% plus 1% (high incomes only) | City of Portland Revenue Division, Personal taxes (Metro SHS and Multnomah County PFA) |
HUD's fair market rents (FY2026, area: Portland-Vancouver-Hillsboro, OR-WA MSA) are set at about the 40th percentile of what recent movers pay for a standard home, including utilities. Many listings ask more, so treat them as a floor for a budget, not an average.
How much of a typical income does rent take?
A one-bedroom at the fair market rent costs $20,124 a year, 20 % of the metro's median household income; a two-bedroom takes 23 %. The usual rule of thumb is to keep rent at or below 30 % of gross income: for a two-bedroom here that means about $76,900 a year before tax.
Local income tax
Higher earners pay two local income taxes: Multnomah County Preschool for All, 1.5% on taxable income over 125,000 (single) and another 1.5% over 250,000, and the Metro Supportive Housing Services tax, 1% over 128,000 (single, 2026).
Taxes in these states
- Oregon: minimum wage, income tax and sales tax
- Washington: minimum wage, income tax and sales tax
- Take-home pay after federal and state tax
Sources
- US Census Bureau, Metropolitan and Micropolitan Statistical Areas Population Totals: 2020-2025 (Vintage 2025, cbsa-est2025-alldata.csv) (2026-10-12)
- HUD User, FY2026 Fair Market Rents, revised (FY26_FMRs_revised.xlsx) (2026-10-12)
- US Census Bureau, American Community Survey 2024 1-year, table B19013 Median household income (summary file) (2026-10-12)
- City of Portland Revenue Division, Personal taxes (Metro SHS and Multnomah County PFA) (2026-10-12)