Portland, Oregon Housing Market Prices
Portland 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 19% above the Oregon median$483,863
-
Median rent 9% above the Oregon median$1,655
Housing Market Overview
| Metric | Portland | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $483,863 | $406,603 | $248,835 |
| Price Trend (Annual %) | 7.8% | 9.4% | 7.5% |
| Median Gross Rent | $1,655 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 6.2% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Portland is about 19% higher than in Oregon. Rent is about 9% 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 Portland, up about 7.8% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Portland rose about 70.5% between 2015 and 2024, from $971 to $1,655. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 5.3 yearly household incomes in Portland.
Buying the median-priced home in Portland costs roughly 24.4 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 Portland. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Portland | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $483,863 | $406,603 | $248,835 |
| Median Household Income | $91,233 | $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 Portland rose about 90.1%, while median household income rose about 82.2% 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 | Portland | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.9% | 58.6% | 58.5% |
| Rental Rate | 45.2% | 33.9% | 31.2% |
| Vacancy Rate | 5.9% | 7.5% | 10.2% |
| Median Tenure (years) | 11.0 | 13.0 | 15.0 |
| Median Year Moved In | 2015 | 2013 | 2011 |
Portland has a homeownership rate of 48.9%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 5.9%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Portland | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.14 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1966 | 1980 | 1978 |
| Median Number of Rooms | 4.7 | 5.3 | 5.5 |
The typical housing unit in Portland was built around 1966. On average, 2.1 people live in a home with about 4.7 rooms, staying for about 11.0 years on average.
Portland, OR Housing Compared With Nearby Cities
How Portland, OR compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Portland, OR | 635,220 | $483,863 #1/2 | $1,655 #2/2 | 51.9% #2/2 |
| Vancouver, WA | 192,630 | $371,961 | $1,697 | 52.3% |
Frequently Asked Questions
Common questions about the housing market in Portland, Oregon.
What is the median home price in Portland, Oregon?
The median home price in Portland, Oregon is $483,863, higher than the Oregon average of $406,603.
What is the average home price in Portland, Oregon?
The typical home price in Portland, Oregon, reported as the median sale price, is $483,863. 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 Portland, Oregon?
The median gross rent in Portland, Oregon is $1,655 per month, higher than the Oregon average of $1,525.
What was the median gross rent in Portland in 2020?
In 2020, the median gross rent in Portland, Oregon was $1,326 per month.
What is the price-to-rent ratio in Portland, Oregon?
The price-to-rent ratio in Portland, Oregon is about 24.4, meaning it would take roughly 24.4 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 Portland.
Are home prices or rent rising faster in Portland, Oregon?
Both home prices and rent are rising in Portland, up about 7.8% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Portland, Oregon?
48.9% of households in Portland, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Portland, Oregon?
The housing vacancy rate in Portland, Oregon is 5.9%, 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 →