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Portland real estate market overview
- Average Monthly Rent: $1,763
- Home Price/Value Percentage Change: -4.40%
- Median Home Value: $539,179
- Best Time To Sell a Home: June
- Affordability Index: Low
- Days To Sell a House: 43
- Job Market: Fair
- Public School Ranking: 44
Location and weather
Portland in beautiful northwestern Oregon is the state's largest city. Its south of Vancouver, Washington on the Willamette River. Portland is the center of a large urban area that includes Beaverton, Gresham and Vancouver. The famous Lewis & Clark expedition passed near Portland on the Columbia River in 1805-06.
Portland gets a lot of rain and with clouds that sometime eclipse Mt. Hood. The mountain is the highest peak in Oregon at 11,249 feet and is a part of the Cascade Mountain Range. The warm season is from late June to mid-September with an average high temperature above 76 degrees and lows in the high 50's. The cool season is from mid-November to late February with an average high temperature below 52 degrees and low in the mid 30's.
Population, job market and cost of living
Portland's population in 2023 is 673,122 with an annual growth rate of 1.03%.
The job market has decreased by -4.82% over last year. The 10-year job growth is predicted to be 42.39%. The biggest employers are Health Care & Social Assistance, Professional, Scientific & Technical Services and Retail Trade. The major companies in Portland include KinderCare Education, Daimler Trucks North America, Precision Castparts, Perkins & CO and Oregon Health & Science University.
The cost of living is high due to the Portland real estate market and higher cost of homes. With its incredible landscape beauty giving its residents an outdoor recreation lifestyle, growth in jobs and major companies headquartered there, Portland will continue to attract those that want to work and live in the Northwest.
Portland real estate market details
- Southwest Hills
- Hazelwood
- Lents
- Overlook
- Boise
The average monthly rent in Portland is $1,763 for an average apartment size of 758 sq. feet.
There has been a -4.4% decrease in median home value over the last year. As of 2023, the median home value is $539,179.
On average, homes in Portland sell after 43 days on the market.
The best time to sell a home for the highest valued sale is during June. For the quickest sale, homeowners should sell in June.
The affordability index in Portland is 132. This number indicates low affordability in this city.
The top ranked public schools are Findley Elementary School, Bonny Slope Elementary School, Stoller Middle School, Flex Online School and Jacob Wismer Elementary School. This information is based on data measuring academic performance and equity.