Portland Housing Affordability

Housing affordability is more than the price of homes for sale or rent. Affordability for a given area is determined by average wage for that city vs. the cost of housing. We write annual reports on Portland's overall affordability rate here and point out the most affordable suburbs around Portland.

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Portland Real Estate Affordability Rate: 2023 Report

Housing affordability in Portland is a concern that has been brought into the spotlight due to factors like rapid population growth (which has begun to drop), inflation combined with income rates failing to meet higher costs of living, and both increasing rent and high mortgage insurance rates. What is Portland’s Affordability Rate in 2023? To […]

Portland Housing Affordability Rate, 2022 Report

We recently wrote about Oregon’s growing population, with many of its migrants being Californians looking for more affordable housing. While this may come as a surprise to Portlanders who have faced increasing rents and home prices, Portland is still more affordable than many west coast cities. But what about those who have lived in the […]

Top 5 Most Affordable Portland, Oregon Suburbs

Continued low inventory and rising real estate prices have complicated the ease of finding a home for many, both here in Portland and across the country. Many have questioned the affordability of living in Portland proper. Many have fled to the suburbs (which at least were cheaper than the city proper). As we wrote about […]

5 Most Affordable Portland Suburbs in 2021

Unless you’ve been living off the grid, you’ve likely heard that soaring home prices have plagued the Portland metropolitan area – and the country – all year. So of course, the question of affordability looms. How much longer will home prices keep shooting up? Will this mean that Portland no longer ranks as an affordable […]

As Portland Home Prices Soar, Home Affordability Takes a Hit

Low inventory and rising home prices have made themselves felt here in Portland, as they have across the country. According to the latest numbers from Fannie Mae’s Home Purchase Sentiment Index® (HPSI), 64% of respondents feel that right now is a bad time to buy a home, while 77% feel it’s a good time to […]

Portland Condo Market: the Affordable Choice for 2021

If you’ve been looking for a new home and are on a budget, you might be laughing at our headline right now. Affordable? Does affordability even exist in Portland these days? Trust us, then, that not only do plenty of affordable homes exist in Portland but that many are condos. Stay with me. The word […]

Portland Home Affordability Rate: 2021 Report

Housing affordability is a universal and complex topic. So is the global pandemic we’re all navigating. Portland’s shortage of inventory hasn’t helped housing affordability over the past year, nor has it shown any signs so far of slowing. When it comes to buying a home in Portland, how should prospective buyers wade these troubled waters? […]

2020’s Top 5 Most Affordable Portland Suburbs

Despite the pandemic setback to the real estate market this spring, home prices in Portland are as strong as ever, especially at the low-to-mid range of the market. While this is great news for homeowners, those shopping for a home — especially a first home — can feel a bit daunted.  Fortunately, the Portland metro […]

Portland Housing Affordability in 2020: More Homes Needed

Housing affordability is a big question facing presidential candidates as well as local decision-makers here in Portland, including those who are looking to buy or sell a home in the metro area. While some worry that the coronavirus or COVID 19 situation will crash the Portland real estate market, our current prediction is that it […]

Portland Condo Market: Affordable Choice for 2020 Home Buyers

Are you looking for a Portland home on a budget? Maybe it’s time to give condos a second look. Consider the following:  Condo buyers have more options. As of March 2020, there were 470 homes listed on the Portland real estate market for under 400K. In the same price range, there were 570 condos available. […]

Portland Housing Affordability Rate – 2020 Update

Most people can afford to pay 30% of their income on housing costs; more than that, and housing becomes unaffordable. The Portland affordability rate is different depending on whether you’re renting or buying. According to the most recent census data, the median household income in Portland is $73,000 per year. For those households, the monthly […]

Top 10 Affordable Portland Neighborhoods – 2019 Update

Growth has been the story of the Portland real estate market almost since it was established as the endpoint to the Oregon Trail. Back then, a home could be purchased for a few hundred dollars, but where are we now? Overall, less affordable — it’s true. The average cost of a square foot of home […]

Top 5 Most Affordable Portland Suburbs – 2019 Update

Affordability is a hot topic in Portland, a city with limited area and seemingly unlimited population growth. While the city struggles to keep up by building apartments, condos, and accessory dwelling units (read our article on the state of construction in Portland here), the suburbs are booming.  Why move to a Portland suburb? The tradition […]

Portland Home vs Condo: Affordability

Last week, the Oregon Office of Economic Analysis reported that the housing market in Portland is “rebalancing”. In other words, the Portland real estate market is cooling fast. In a recent blog post, they outlined the indications that we’re seeing a once-in-a-decade shift in the forces favoring sellers over buyers. Long story short: Inventory is […]

Top 5 – Most Affordable – Portland Suburbs

Portland has never been a better place to live and work. Our schools, parks, transportation and homes are top-notch — but the one downside is that affordability has suffered. An influx of new residents combined with a slow construction industry means that the typical home value is tens of thousands of dollars more than what […]

Housing Affordability: 2018 Portland Market

Home prices are up in Portland, but so are wages and new jobs. As homes and real estate increase in value, and Portland loosens the rules to allow for a variety of housing development, we may see a flood of new homes (or at least apartments) on the market. Does all of this mean that […]

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