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 about Scout's Real Estate Data
With 20,536 people, 6,869 houses or apartments, and a median cost of homes of $223,320, 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 72.42% of the city's housing units. Other types of housing that are prevalent in Portland include large apartment complexes or high rise apartments ( 15.38%), duplexes, homes converted to apartments or other small apartment buildings ( 8.78%), and a few row houses and other attached homes ( 1.80%).
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 63.59% owning and 36.41% 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 ( 31.44%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.44%).
Vacant housing appears to be an issue in Portland. Fully 14.81% 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 77.76%, which ranks in the top 50% nationwide. This equates to an annual average Portland house appreciation rate of 5.92%.
NeighborhoodScout's data show that during the latest twelve months, Portland's appreciation rate, at 7.80%, has been at or slightly above the national average. In the latest quarter, Portland's appreciation rate has been 1.31%, which annualizes to a rate of 5.33%.
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 Texas, our data show that Portland's latest annual appreciation rate is lower than 60% of the other cities and towns in Texas.
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.
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