Portland, TN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Portland Neighborhoods Since 2000




Portland, TN Real Estate Data


Portland Housing Market Information

With a population of 12,323, 4,216 total housing units (homes and apartments), and a median house value of $146,156, 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.

Portland Home Appreciation Rates

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 12.82%, which ranks in the top 30% nationwide. This equates to an annual average Portland house appreciation rate of 1.21%.

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 8.59%, which is higher than appreciation rates in 88.55% 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 1.46%, which equates to an annual appreciation rate of 5.97%.

Relative to Tennessee, our data show that Portland's latest annual appreciation rate is higher than 80% 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.

Average Home Values

 

Median Home Value:
$146,156

Portland, TN HOME PRICES

Value Range
> $1,196,000 0.0
$897,001 - $1,196,000 0.2
$598,001 - $897,000 0.3
$479,001 - $598,000 1.1
$359,001 - $479,000 2.5
$239,001 - $359,000 9.9
$120,001 - $239,000 59.2
$60,001 - $120,000 23.4
$0 - $60,000 3.2

High for TN
Average for Nation

Value Relative to Nation Value Relative to State
51.3184108754248 31.8877551020408

Number Of Homes And Apartments:
4,216

Rent & Ownership

 

Average Market Rent:
$943 / per month

Homeownership Rate

Homeownership
Owners 61.71
Renters 38.29
Vacant 11.26

Housing Market Details

 

Age of Homes

AGE OF Portland HOMES
2000 or Newer 27.2
1970 - 1999 47.6
1940 - 1969 20.6
1939 or Older 4.5

Types of Homes

TYPE OF Portland HOMES
Single-Family 77.9
Townhomes 3.9
Small Apt. Buildings 8.0
Apt. Complexes 3.0
Mobile Homes 7.2
Other 0.0

Home Size

SIZE OF Portland HOMES
No Bedroom 0.86
1 Bedroom 4.06
2 Bedrooms 20.10
3 Bedrooms 63.80
4 Bedrooms 10.12
5 or more bedrooms 1.05

Portland Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TN*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
35.42% 1.77% 5 4
* 10 is highest