There are currently 245,152 real estate properties in Portland, OR, with a median automated valuation model (AVM) price of $533,000.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Portland, OR, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Portland, OR, is $598,323.00, with the most expensive house in Portland, OR, topping out at $17,272,100.00 and the cheapest home in Portland, OR, clocking in at $14,800.00. In other words, there’s something for every potential homebuyer or savvy investor in Portland, OR!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Portland, OR, is on a rollercoaster ride. The average rent price in Portland, OR, is $1,429.00. Indeed, when looking to rent in Portland, OR, you can expect to pay as little as $610.00 or as much as $4,740.00, with the average rent median estimated to be $1,400.00. The good news is that finding an affordable and desirable property to rent in Portland, OR -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Portland is located in Multnomah, Oregon, with an estimated municipal population of 654,741 residents. All of the best foreclosed homes for sale in Portland are located in the following zip code areas on Foreclosure.com: 97227 97221 97220 97229 97203 97202 97201 97206 97205 97204 97209 97208 97266 97218 97236 97232 97233 97230 97239 97219 97214 97215 97216 97217 97210 97211 97212 97213 97207 97228 97238 97240 97242 97250 97251 97252 97253 97254 97256 97280 97282 97283 97286 97290 97291 97292 97293 97294. The estimated population per square kilometer (.62 miles) in Portland is 1,894.
So, about how much do homes cost in Portland? The most recent median value of resident-owned homes in Portland is 411,882. An estimated 53.4 percent of households in Portland own their homes, with an average family size of 3.02. The median household income in Portland is 71,005, with34.5 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Portland, the median commute time of resident workers (in minutes) is 26.5. And last, but certainly not least, are you looking for homes to rent in Portland? If so, the average rent price paid by renters in Portland is 1,248, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Portland, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Portland is 37.1, split between 49.6 percent male versus 50.4 female. The percentage of residents who report being married in Portland is 40.9, with an average family size of 3.02.
The percentage of residents who report their race in Portland is as follows:
| White | 77.4% |
| Black / African American | 5.8% |
| Asian | 8.2% |
| American Indian / Alaskan Native | 0.8% |
| Native Hawaiian / Other Pacifc Islander | 0.6% |
| Multi-racial | 5.3% |
| Other | 1.9% |
Looking for family-friendly neighborhoods in and/or near Portland? Or maybe you are searching for 55+ active adult communities in and/or near Portland?
The percentage of residents who report their age in Portland is as follows:
| Under 10 | 10.5% |
| Aged 10-19 | 9.4% |
| 20s | 15.9% |
| 30s | 19.6% |
| 40s | 14.7% |
| 50s | 11.6% |
| 60s | 10.5% |
| 70s | 5.2% |
| 80+ | 2.8% |
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Portland with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Portland.
How do you know that living in -- or moving to -- Portland is right where you need to be? Perhaps you grew up in Portland or already live nearby; therefore, the decision to buy a home in Portland is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Portland for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Portland:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Portland.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Portland can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Portland, meanwhile, can field multiple offers from more qualified buyers.
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