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Real Estate Prices & Overview

Homestead median real estate price is $865,098, which is more expensive than 90.4% of the neighborhoods in Oregon and 89.0% of the neighborhoods in the U.S.

The average rental price in Homestead is currently $2,401, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 61.3% of the neighborhoods in Oregon.

Homestead is a suburban neighborhood (based on population density) located in Portland, Oregon.

Homestead real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Homestead neighborhood are older, well-established, built between 1940 and 1969. A number of residences were also built before 1940.

Home and apartment vacancy rates are 8.9% in Homestead. NeighborhoodScout analysis shows that this rate is lower than 45.0% of the neighborhoods in the nation, approximately near the middle range for vacancies.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Portland, the Homestead neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Modes of Transportation

A unique way of commuting is simply not to. And in the Homestead neighborhood, analysis shows that 27.9% of the residents work from home, avoiding a commute altogether. This may not seem like a large number, but it is a higher proportion of people working from home than is found in 98.0% of the neighborhoods in the United States. One thing NeighborhoodScout's research reveals is that the wealthier and/or more isolated the neighborhood, the greater the proportion of residents who choose to work from home.

Also, in the Homestead neighborhood, walking to work is a real option for many. In fact, NeighborhoodScout's exclusive research reveals walking to and from work is the chosen way to commute for 14.7% of residents here. This is a higher proportion of walking commuters than we found in 96.9% of American neighborhoods. Get ready to put on your walking shoes if you move here!

Finally, would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Homestead neighborhood is a fantastic option for bicycle commuters, as 2.9% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 95.3% of the neighborhoods in America.

Occupations

The Homestead neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 97.2% of the neighborhoods in America. In fact, 72.8% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.

People

If knowledge is power, then imagine the cumulative power of one neighborhood where many of the adults have earned an advanced degree, such as a Masters, law degree, medical degree, or even a Ph.D. This is certainly the case in the Homestead neighborhood, where 39.8% have earned an advanced degree. Compare that to the average neighborhood in America, where just 13.1% of adults have completed a post-graduate degree, and you can see why this neighborhood is a stand out. In fact, this neighborhood has a higher rate of adults with an advanced degree than 97.1% of the neighborhoods in America.

Diversity

Did you know that the Homestead neighborhood has more British and Belgian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 3.5% of this neighborhood's residents have British ancestry and 1.1% have Belgian ancestry.

Homestead is also pretty special linguistically. Significantly, 1.3% of its residents five years old and above primarily speak Persian at home. While this may seem like a small percentage, it is higher than 98.4% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Homestead neighborhood in Portland are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 84.9% of the neighborhoods in America. In addition, 1.4% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 77.6% of America's neighborhoods.

The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.

In the Homestead neighborhood, 72.8% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 11.8% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (8.5%), and 6.3% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Homestead neighborhood is English, spoken by 83.1% of households. Other important languages spoken here include Spanish and Chinese.

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Homestead neighborhood in Portland, OR, residents most commonly identify their ethnicity or ancestry as English (20.0%). There are also a number of people of German ancestry (14.4%), and residents who report Irish roots (13.4%), and some of the residents are also of Asian ancestry (7.0%), along with some Scottish ancestry residents (5.2%), among others. In addition, 14.6% of the residents of this neighborhood were born in another country.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Homestead neighborhood spend between 15 and 30 minutes commuting one-way to work (44.2% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (44.2%) drive alone in a private automobile to get to work. In addition, quite a number also hop out the door and walk to work to get to work (14.7%) and 7.5% of residents also carpool with coworkers, friends, or neighbors for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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