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Portland city, OR

ZIP 97231 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 97231

Median Home Value
$795,100
Median Rent
$1,625
Affordability Snapshot
$219,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$5,108/mo PITI).

16%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

6.5x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

40.8 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 97231 in Portland city, OR, a household would need roughly $219,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $5,108. That is about 79% above the local median household income ($122,063), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
87.3%+34% vs US avg
x
Vacancy Rate
7.1%-31% vs US avg
x
Broadband Access
94.4%+8% vs US avg
x
4+ Bedrooms
6.1%-59% vs US avg
x
Built Pre-1939
4.4%-65% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
7.2%-86% vs US avg
x
Mortgage-Free
48.2%+26% vs US avg
x
$795,100
Home Value
$1,625
Rent
1978
Year Built
2011
Moved In

Residents have lived here since ~2011 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached89.1%
  • 1-unit attached3.7%
  • 2-9 units0.2%
  • 10+ units0.7%
  • Mobile home & other6.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$795,100
Median rent$1,625
Owner-occupied87.3%
Vacant7.1%
Price-to-income6.5x
Est. income to buy$219,000