Zip Code: 97229 (Portland, Oregon) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted (Zillow)

Updated on March 22, 2026.

According to data from Zillow.com, the smoothed and seasonally adjusted Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily in the 97229 Zip Code (Portland, Oregon) in February 2026 was $1,986.889. The month over month percentage change (MoM) was 0.00%, and the year over year percentage change (YoY) was -2.05%.

The chart below shows the trend of the smoothed and seasonally adjusted ZORI for the 97229 zip code (Portland, Oregon). The table below shows the trend of the smoothed and seasonally adjusted ZORI, and the MoM and YoY percentage changes for the 97229 zip code (Portland, Oregon).

You can see similar information for other Oregon zip codes.

Note: Zillow Observed Rent Index (ZORI) is a smoothed measure of the typical observed market rate rent across a given region. ZORI is a repeat-rent index that is weighted to the rental housing stock to ensure representativeness across the entire market, not just homes currently listed for-rent.

Data Source: Zillow.
Zip Code: 97229 (Portland, Oregon) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted ($)
Zip Code: 97229 (Portland, Oregon) - Trend of Zillow Observed Rent Index (ZORI) for All Homes Plus Multifamily, Smooth and Seasonally Adjusted
1 – 10 of 134
Month ZORI ($) MoM Perc. Change (%) YoY Perc. Change (%)
Jan 2015 1308.5749778197376 NaN NaN
Feb 2015 1313.5351283679256 0.38 NaN
Mar 2015 1329.00171338053 1.18 NaN
Apr 2015 1321.7407378377532 -0.55 NaN
May 2015 1333.8161103746995 0.91 NaN
Jun 2015 1331.0401517695323 -0.21 NaN
Jul 2015 1354.362289915401 1.75 NaN
Aug 2015 1364.734164231909 0.77 NaN
Sep 2015 1397.7071553092967 2.42 NaN
Oct 2015 1403.6396489083286 0.42 NaN
Nov 2015 1399.4583173707754 -0.30 NaN
Dec 2015 1400.438768064286 0.07 NaN
Jan 2016 1401.9758335389831 0.11 7.14
Feb 2016 1415.7968626663633 0.99 7.79
Mar 2016 1415.5161035605563 -0.02 6.51
Apr 2016 1440.6698982656321 1.78 9.00
May 2016 1448.484811425322 0.54 8.60
Jun 2016 1461.8624674417156 0.92 9.83
Jul 2016 1445.383201691225 -1.13 6.72
Aug 2016 1444.9659697234306 -0.03 5.88
Sep 2016 1448.1967538688016 0.22 3.61
Oct 2016 1457.5451289772814 0.65 3.84
Nov 2016 1472.9005432216193 1.05 5.25
Dec 2016 1469.6216982995393 -0.22 4.94
Jan 2017 1472.2205047132584 0.18 5.01
Feb 2017 1476.209848868169 0.27 4.27
Mar 2017 1497.463934995063 1.44 5.79
Apr 2017 1491.1979989086155 -0.42 3.51
May 2017 1483.5452305526478 -0.51 2.42
Jun 2017 1477.3158709940215 -0.42 1.06
Jul 2017 1494.6686716055801 1.18 3.41
Aug 2017 1502.236442383414 0.51 3.96
Sep 2017 1485.6571660796628 -1.10 2.59
Oct 2017 1475.2067823689374 -0.70 1.21
Nov 2017 1468.5832533816315 -0.45 -0.29
Dec 2017 1489.5981579485663 1.43 1.36
Jan 2018 1499.792677736334 0.68 1.87
Feb 2018 1510.9144399299266 0.74 2.35
Mar 2018 1499.85681758112 -0.73 0.16
Apr 2018 1512.472009234044 0.84 1.43
May 2018 1518.3032949160843 0.39 2.34
Jun 2018 1527.2796034535756 0.59 3.38
Jul 2018 1517.0149091487385 -0.67 1.50
Aug 2018 1515.024649551123 -0.13 0.85
Sep 2018 1515.899500229856 0.06 2.04
Oct 2018 1526.0530138067707 0.67 3.45
Nov 2018 1531.0037764026315 0.32 4.25
Dec 2018 1527.9808653846703 -0.20 2.58
Jan 2019 1529.6701199720317 0.11 1.99
Feb 2019 1538.0564373225998 0.55 1.80
Mar 2019 1545.2402977760548 0.47 3.03
Apr 2019 1542.8883428245294 -0.15 2.01
May 2019 1549.2632395847902 0.41 2.04
Jun 2019 1551.572191084406 0.15 1.59
Jul 2019 1562.0748780291703 0.68 2.97
Aug 2019 1567.8923844932358 0.37 3.49
Sep 2019 1581.3706463968288 0.86 4.32
Oct 2019 1583.7298999988159 0.15 3.78
Nov 2019 1587.131614006453 0.22 3.67
Dec 2019 1586.2778452514697 -0.05 3.82
Jan 2020 1585.9415325822188 -0.02 3.68
Feb 2020 1579.1269967770934 -0.43 2.67
Mar 2020 1593.3064698235055 0.90 3.11
Apr 2020 1594.0762842101349 0.05 3.32
May 2020 1590.4408451249824 -0.23 2.66
Jun 2020 1579.5229036397034 -0.69 1.80
Jul 2020 1572.958416779715 -0.42 0.70
Aug 2020 1588.1078261225366 0.96 1.29
Sep 2020 1583.4932192340352 -0.29 0.13
Oct 2020 1601.0164692823744 1.11 1.09
Nov 2020 1604.344807691776 0.21 1.09
Dec 2020 1626.7890893368187 1.40 2.55
Jan 2021 1635.3911701153836 0.53 3.12
Feb 2021 1657.6480729216921 1.36 4.97
Mar 2021 1652.7583852952814 -0.29 3.73
Apr 2021 1668.8389055833488 0.97 4.69
May 2021 1685.0820485414022 0.97 5.95
Jun 2021 1715.132910889207 1.78 8.59
Jul 2021 1741.4994301960503 1.54 10.72
Aug 2021 1761.1320221725475 1.13 10.90
Sep 2021 1791.0877815290094 1.70 13.11
Oct 2021 1813.5501266380186 1.25 13.28
Nov 2021 1836.1175470633425 1.24 14.45
Dec 2021 1844.0868315705015 0.43 13.36
Jan 2022 1855.5337182776536 0.62 13.46
Feb 2022 1870.1532821006529 0.79 12.82
Mar 2022 1887.8852325742523 0.95 14.23
Apr 2022 1896.6945000544652 0.47 13.65
May 2022 1911.1680700474828 0.76 13.42
Jun 2022 1927.5006745279359 0.86 12.38
Jul 2022 1954.160663081791 1.38 12.21
Aug 2022 1961.2841666376112 0.37 11.37
Sep 2022 1970.5404389723276 0.47 10.02
Oct 2022 1965.1734075555037 -0.27 8.36
Nov 2022 1987.648976412801 1.14 8.25
Dec 2022 1988.4252122372345 0.04 7.83
Jan 2023 1995.3901220305117 0.35 7.54
Feb 2023 1979.480489237814 -0.80 5.85
Mar 2023 1985.8467903117405 0.32 5.19
Apr 2023 1990.543304259346 0.24 4.95
May 2023 1977.8343406790743 -0.64 3.49
Jun 2023 1955.0371373289765 -1.15 1.43
Jul 2023 1926.297634056067 -1.47 -1.43
Aug 2023 1923.9224295432493 -0.12 -1.90
Sep 2023 1928.1575960433343 0.22 -2.15
Oct 2023 1931.6922954251572 0.18 -1.70
Nov 2023 1916.3179405734272 -0.80 -3.59
Dec 2023 1918.9073408477516 0.14 -3.50
Jan 2024 1928.1351796178787 0.48 -3.37
Feb 2024 1949.0045579025004 1.08 -1.54
Mar 2024 1965.5420151805595 0.85 -1.02
Apr 2024 1976.0166481883996 0.53 -0.73
May 2024 1992.0038386609906 0.81 0.72
Jun 2024 2005.484272353101 0.68 2.58
Jul 2024 2038.0440145678176 1.62 5.80
Aug 2024 2042.8962874430013 0.24 6.18
Sep 2024 2040.2320450103325 -0.13 5.81
Oct 2024 2029.9023555911042 -0.51 5.08
Nov 2024 2032.3342869286623 0.12 6.05
Dec 2024 2033.544925741655 0.06 5.97
Jan 2025 2038.998348603885 0.27 5.75
Feb 2025 2028.389544089001 -0.52 4.07
Mar 2025 2014.7969580918193 -0.67 2.51
Apr 2025 2007.7833885015796 -0.35 1.61
May 2025 2003.1825517256248 -0.23 0.56
Jun 2025 2004.0099866876267 0.04 -0.07
Jul 2025 1991.0948777809626 -0.64 -2.30
Aug 2025 1989.958175080146 -0.06 -2.59
Sep 2025 1989.6248788722423 -0.02 -2.48
Oct 2025 1997.5991671036822 0.40 -1.59
Nov 2025 1999.2137046232522 0.08 -1.63
Dec 2025 1997.1042914167203 -0.11 -1.79
Jan 2026 1986.8923716946365 -0.51 -2.56
Feb 2026 1986.8889372822298 0.00 -2.05