Multnomah County, Oregon Housing Market Prices
Multnomah County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
-
Median home price 17% above the Oregon median Among the 5 most expensive counties in Oregon$474,481
-
Median rent 8% above the Oregon median Among the 5 most expensive counties in Oregon$1,646
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Multnomah County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $474,481 | $406,603 | $248,835 |
| Price Trend (Annual %) | 7.6% | 9.4% | 7.5% |
| Median Gross Rent | $1,646 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 6.3% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Multnomah County is about 17% higher than in Oregon. Rent is about 8% higher than the Oregon average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Multnomah County, up about 7.6% and 6.3% a year respectively. Home prices are changing faster.
Median rent in Multnomah County rose about 70.9% between 2015 and 2024, from $963 to $1,646. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Multnomah County.
Buying the median-priced home in Multnomah County costs roughly 24.0 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Multnomah County. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Multnomah County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $474,481 | $406,603 | $248,835 |
| Median Household Income | $89,512 | $83,617 | $80,455 |
| Price-to-Income Ratio | 5.3 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Multnomah County rose about 89.4%, while median household income rose about 74.1% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Multnomah County | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 50.3% | 58.6% | 58.5% |
| Rental Rate | 43.9% | 33.9% | 31.2% |
| Vacancy Rate | 5.8% | 7.5% | 10.2% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Multnomah County has a homeownership rate of 50.3%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 5.8%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Multnomah County | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.23 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1973 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 5.3 | 5.5 |
The typical housing unit in Multnomah County was built around 1973. On average, 2.2 people live in a home with about 4.8 rooms, staying for about 12.0 years on average.
Multnomah County, OR Housing Compared With Nearby Counties
Multnomah County, OR is the largest of the 5 counties compared here, 801,042 residents against a local median of 470,101. Where Multnomah County, OR breaks from the counties next to it is homeownership, sitting 17% below the local median of 64.3% at 53.4%. That is the weaker end of the local range on this measure.
The counties themselves spread 9.8% on homeownership, so Multnomah County, OR sits at one end of an already wide local range rather than apart from it. Multnomah County, OR has the 5th highest homeownership of the 5 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Multnomah County, OR | 801,042 | $474,481 #3/5 | $1,646 #4/5 | 53.4% #5/5 |
| Clark County, WA | 516,710 | $477,323 | $1,747 | 66.4% |
| Clackamas County, OR | 423,491 | $536,509 | $1,757 | 70.7% |
| Marion County, OR | 349,246 | $420,811 | $1,414 | 62.3% |
| Washington County, OR | 603,920 | $472,684 | $1,848 | 60.8% |
Frequently Asked Questions
Common questions about the housing market in Multnomah County, Oregon.
What is the median home price in Multnomah County, Oregon?
The median home price in Multnomah County, Oregon is $474,481, higher than the Oregon average of $406,603.
What is the average home price in Multnomah County, Oregon?
The typical home price in Multnomah County, Oregon, reported as the median sale price, is $474,481. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Multnomah County, Oregon?
The median gross rent in Multnomah County, Oregon is $1,646 per month, higher than the Oregon average of $1,525.
What was the median gross rent in Multnomah County in 2020?
In 2020, the median gross rent in Multnomah County, Oregon was $1,309 per month.
What is the price-to-rent ratio in Multnomah County, Oregon?
The price-to-rent ratio in Multnomah County, Oregon is about 24.0, meaning it would take roughly 24.0 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Multnomah County.
Are home prices or rent rising faster in Multnomah County, Oregon?
Both home prices and rent are rising in Multnomah County, up about 7.6% and 6.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Multnomah County, Oregon?
50.3% of households in Multnomah County, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Multnomah County, Oregon?
The housing vacancy rate in Multnomah County, Oregon is 5.8%, lower than the Oregon average of 7.5%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →