For me the armor value is stuck at 1. Changing outfits with different armor levels doesn't change the actual armor value on the main character. I tried restarting level and reloading older saves but nothing changes (equipping higher armor level outfits doesn't change the armor value).

Does anyone else have a similar issue?

I'm on Linux, game version 2.0.6.

Thank you.

Is this for Dead Man's Switch or Dragonfall?

I had this happen in DMS, the solution is to hire (if you don't have the spell yourself) Felonious or some other mage with the armor buff spell, on your next run. Then have her spam it on your lower than expected armored target. Just keep going till you reach or exceed the expected number. It should get stuck at the proper value and stay there for the rest of the game. As long as you don't change outfits.

I picked up the 10 armor outfit towards the end but my character sheet would only show (2). Using the above trick and finishing out the mission with 10 armor, the character sheet now showed armor at (10), in 'unbuffed' white text back at the Seamstresses Union.

Thank you so much for your workaround solution, I will try to use your trick then.
I encountered this issue in Dragonfall.

Meanwhile I sent a detailed bug report to HBS.

This is still happening in Dragonfall 2.0.9 :/

I have this idiotic bug on 2.0.9.

But in 2017 no one will release the patch.

And it fixed after mission in Adenauerplatz. My armor value updated and now all ok. I dont know what happened - my drone was destroyed in last battle, maybe it solve issue (game recalculate parameters, bla-bla-bla).