Portland, OR Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Portland, OR Housing Market Trends

With a population of 652,503, 277,142 total housing units (homes and apartments), and a median house value of $585,003, Portland house prices are not only among the most expensive in Oregon, Portland real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Portland, accounting for 54.75% of the city's housing units. Other types of housing that are prevalent in Portland include large apartment complexes or high rise apartments ( 31.09%), duplexes, homes converted to apartments or other small apartment buildings ( 8.70%), and a few row houses and other attached homes ( 4.18%).

People in Portland primarily live in small (one, two or no bedroom) single-family detached homes. Portland has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Portland's housing was primarily built during this period, from the '40s through the '60s. A full 28.41% of the city's housing hails from this era. Other housing ages represented in Portland include homes built before 1939 ( 28.12%) and housing constructed between 1970-1999 ( 25.94%). There's also some housing in Portland built between 2000 and later ( 17.53%).

Portland Home Appreciation Rates

In the last 10 years, Portland has experienced some of the highest home appreciation rates of any community in the nation. Portland real estate appreciated 123.95% over the last ten years, which is an average annual home appreciation rate of 8.40%, putting Portland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Portland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Portland that despite a nationwide downturn in the housing market, Portland real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Portland appreciation rates continue to be some of the highest in America, at 22.59%, which is higher than appreciation rates in 83.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Portland. Portland appreciation rates in the latest quarter were at 8.15%, which equates to an annual appreciation rate of 36.83%.

Relative to Oregon, our data show that Portland's latest annual appreciation rate is lower than 90% of the other cities and towns in Oregon.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Portland real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$585,003

Portland, OR HOME PRICES

> $1,344,000
3.7%
3.7%
$1,008,001 - $1,344,000
7.7%
7.7%
$672,001 - $1,008,000
24.7%
24.7%
$538,001 - $672,000
19.1%
19.1%
$403,001 - $538,000
23.7%
23.7%
$269,001 - $403,000
14.3%
14.3%
$135,001 - $269,000
4.3%
4.3%
$67,001 - $135,000
0.8%
0.8%
$0 - $67,000
1.7%
1.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for OR

Value Relative To Nation

Number Of Homes And Apartments:
277,142

Portland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
222.90% 5.47%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,972 / per month

Homeownership Rate

Owners
51.8%
51.8%
Renters
48.2%
48.2%
Vacant
5.5%
5.5%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.5%
17.5%
1970 - 1999
25.9%
25.9%
1940 - 1969
28.4%
28.4%
1939 or Older
28.1%
28.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
54.7%
54.7%
Townhomes
4.2%
4.2%
Small Apt. Buildings
8.7%
8.7%
Apt. Complexes
31.1%
31.1%
Mobile Homes
1.1%
1.1%
Other
0.2%
0.2%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
8.4%
8.4%
1 Bedroom
17.5%
17.5%
2 Bedrooms
29.0%
29.0%
3 Bedrooms
28.7%
28.7%
4 Bedrooms
12.9%
12.9%
5 or more bedrooms
3.6%
3.6%
0.0% 100.0%
% OF HOMES