Portland Housing Market: Best Place to Retire?

The popular TV show Portlandia once quipped that Portland is where young people go to retire.
It turns out it’s where those who are young at heart go to retire, too.

Portland’s residents already include over 64,000 who are 65 or older. Portland State University’s Institute of Aging, expects this number to grow 106% in the next two decades.

What makes Portland such a popular place for seniors to live? A recent Wall Street Journal article, which called Portland one of the country’s Best Places to Retire, named a number of factors: Great restaurants, access to the great outdoors, walkability, inter-generational events and entertainment, volunteer opportunities, and free classes at Portland State University, to name a few.

What about housing? Those who are buying a home in which to retire will be looking for certain key amenities. To start with, at least one entrance without stairs, a bathroom on the ground floor, and doorways wide enough for a wheelchair to get through.

Portland’s accelerating real estate market may make it difficult for some to afford retirement and home ownership here, but there are options. For one, the more-affordable communities surrounding Portland are connected to the central city with great public transit.

What’s more, Portland is a city that’s dedicated to serving retirees. In June 2010, Portland became one of the first American cities to join the World Health Organization’s Global Network of Age-Friendly Cities and Communities. The AARP helped launch the Age-Friendly Portland plan, which outlines steps for the City to take to improve the housing situation for seniors. They include extending tax incentives for homeowners to rebuild their homes to be more senior-friendly or add on an attached dwelling unit. The plan also encourages alternative and innovative approaches to housing seniors.

One such project, PDX Commons Co-Housing, has made some waves in recent months. It’s a planned development of 20-25 condominiums with shared facilities and common areas. It’s targeted at residents 55 and older but has no age limitations. And although it’s just one project, its leaders are confident that its success, along with the popularity of co-housing in other countries with a large volume of retirees, could provide a model for Portland to follow into the future.

Whatever your housing preference for your Portland retirement, or if you’re thinking about selling a home and want to make improvements that will appeal to seniors, use your Portland real estate agent as a resource. I can guide you through the neighborhoods and the many options out there for you. After all, whether you’re young or old, retirement is just a state of mind!