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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With a population of 12,323, 4,216 total housing units (homes and apartments), and a median house value of $150,471, Portland real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Portland, accounting for 77.90% of the city's housing units. Other types of housing that are prevalent in Portland include duplexes, homes converted to apartments or other small apartment buildings ( 7.98%), mobile homes or trailers ( 7.22%), and a few row houses and other attached homes ( 3.94%).
The most prevalent building size and type in Portland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.71% owning and 38.29% renting.
There is a lot of housing in Portland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Portland built between 2000 and later ( 27.24%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.61%). There's also some housing in Portland built before 1939 ( 4.55%).
Vacant housing appears to be an issue in Portland. Fully 11.26% of the housing stock is classified as vacant. Left unchecked, vacant Portland homes and apartments can be a drag on the real estate market, holding Portland real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Appreciation rates for homes in Portland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.81%, which ranks in the top 30% nationwide. This equates to an annual average Portland house appreciation rate of 1.39%.
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 9.29%, which is higher than appreciation rates in 91.69% 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 2.76%, which equates to an annual appreciation rate of 11.51%.
Importantly, this makes Portland one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Tennessee, our data show that Portland's latest annual appreciation rate is higher than 90% of the other cities and towns in Tennessee.
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.
|$922,001 - $1,230,000||0.2|
|$615,001 - $922,000||0.3|
|$492,001 - $615,000||1.1|
|$369,001 - $492,000||2.5|
|$246,001 - $369,000||9.9|
|$123,001 - $246,000||59.2|
|$62,001 - $123,000||23.4|
|$0 - $62,000||3.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Portland HOMES|
|2000 or Newer||27.2|
|1970 - 1999||47.6|
|1940 - 1969||20.6|
|1939 or Older||4.5|
|TYPE OF Portland HOMES|
|Small Apt. Buildings||8.0|
|SIZE OF Portland HOMES|
|5 or more bedrooms||1.05|