Portland market pulse
Real public data for Portland's ZIP codes, updated as the agencies publish.
Metro prices
-0.8%
in 1 year · Portland metro · 2025 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2025 Q2 |
|---|---|---|
| 2025 Q2 | 652.7 | — |
| 2025 Q3 | 642.2 | -1.6% |
| 2025 Q4 | 626.1 | -4.1% |
| 2026 Q1 | 637.1 | -2.4% |
| 2026 Q2 | 647.6 | -0.8% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Portland-Vancouver-Hillsboro, OR-WA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+13%
in 5 years · Portland metro · 2021 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2021 Q2 |
|---|---|---|
| 2021 Q2 | 573.9 | — |
| 2021 Q3 | 587.3 | +2.3% |
| 2021 Q4 | 594.0 | +3.5% |
| 2022 Q1 | 630.3 | +9.8% |
| 2022 Q2 | 649.0 | +13% |
| 2022 Q3 | 625.1 | +8.9% |
| 2022 Q4 | 603.3 | +5.1% |
| 2023 Q1 | 602.0 | +4.9% |
| 2023 Q2 | 631.8 | +10% |
| 2023 Q3 | 627.0 | +9.3% |
| 2023 Q4 | 605.5 | +5.5% |
| 2024 Q1 | 624.2 | +8.8% |
| 2024 Q2 | 638.7 | +11% |
| 2024 Q3 | 632.5 | +10% |
| 2024 Q4 | 625.4 | +9.0% |
| 2025 Q1 | 643.0 | +12% |
| 2025 Q2 | 652.7 | +14% |
| 2025 Q3 | 642.2 | +12% |
| 2025 Q4 | 626.1 | +9.1% |
| 2026 Q1 | 637.1 | +11% |
| 2026 Q2 | 647.6 | +13% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Portland-Vancouver-Hillsboro, OR-WA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
+65%
in 10 years · Portland metro · 2016 Q2–2026 Q2
Past change, not a forecast.
Data table
| Quarter | Index | Change since 2016 Q2 |
|---|---|---|
| 2016 Q2 | 391.6 | — |
| 2016 Q3 | 396.1 | +1.1% |
| 2016 Q4 | 397.5 | +1.5% |
| 2017 Q1 | 403.8 | +3.1% |
| 2017 Q2 | 423.2 | +8.1% |
| 2017 Q3 | 427.8 | +9.2% |
| 2017 Q4 | 424.1 | +8.3% |
| 2018 Q1 | 437.5 | +12% |
| 2018 Q2 | 449.7 | +15% |
| 2018 Q3 | 448.6 | +15% |
| 2018 Q4 | 441.6 | +13% |
| 2019 Q1 | 449.3 | +15% |
| 2019 Q2 | 461.1 | +18% |
| 2019 Q3 | 462.1 | +18% |
| 2019 Q4 | 463.9 | +18% |
| 2020 Q1 | 475.4 | +21% |
| 2020 Q2 | 485.1 | +24% |
| 2020 Q3 | 505.2 | +29% |
| 2020 Q4 | 513.1 | +31% |
| 2021 Q1 | 537.7 | +37% |
| 2021 Q2 | 573.9 | +47% |
| 2021 Q3 | 587.3 | +50% |
| 2021 Q4 | 594.0 | +52% |
| 2022 Q1 | 630.3 | +61% |
| 2022 Q2 | 649.0 | +66% |
| 2022 Q3 | 625.1 | +60% |
| 2022 Q4 | 603.3 | +54% |
| 2023 Q1 | 602.0 | +54% |
| 2023 Q2 | 631.8 | +61% |
| 2023 Q3 | 627.0 | +60% |
| 2023 Q4 | 605.5 | +55% |
| 2024 Q1 | 624.2 | +59% |
| 2024 Q2 | 638.7 | +63% |
| 2024 Q3 | 632.5 | +62% |
| 2024 Q4 | 625.4 | +60% |
| 2025 Q1 | 643.0 | +64% |
| 2025 Q2 | 652.7 | +67% |
| 2025 Q3 | 642.2 | +64% |
| 2025 Q4 | 626.1 | +60% |
| 2026 Q1 | 637.1 | +63% |
| 2026 Q2 | 647.6 | +65% |
Each index has its own base, so compare its changes, not its level.
Details
FHFA's purchase-only index for Portland-Vancouver-Hillsboro, OR-WA: repeat sales of the same houses, from mortgages Fannie Mae and Freddie Mac purchased or securitized. It isn't seasonally adjusted, so each span starts in the quarter it ends.
ZIP by ZIP
+54%
The median ZIP's house price index, 2015–2025. 24 ZIPs, from +30% to +97%.
One-year ZIP changes are noisy: of last year's top-3 ZIPs in our 50 cities, 1 in 15 was top 3 again. Past change, not a forecast.
About these figures
FHFA's experimental ZIP house price index: houses with Fannie Mae or Freddie Mac loans, from sales and refinance appraisals. Condos, co-ops and multi-unit buildings aren't in it. 24 of Portland's 26 ZIPs have an index; FHFA publishes one only where enough sales exist. A ZIP whose index stops before the latest year shows the year it ends instead of changes. Each index has its own base, so compare a ZIP's changes, not its level.
Rent or buy here
EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $3,038 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$1,153
a month more to own a typical sample home than HUD's rent for its size, ZIP 97203
- Own: 3-bedroom sample house, $569,000Sample: fictional home, for the demo.
- EstimateMonthly housing payment (est.): 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments of $3,038 · APR not calculated (it depends on the lender's fees) · includes principal and interest, property tax, home insurance and any HOA dues, plus mortgage insurance below 20% down.7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.Source: Freddie Mac Primary Mortgage Market Survey · Sep 24, 2026 (opens in a new tab)$3,593 a monthNot included: upkeep, utilities, flood insurance, special assessments.
- Rent: HUD fair market rent, 3 bedrooms
- $2,440 a monthHUD Small Area Fair Market Rent, FY2027: a 40th-percentile rent for a standard home, utilities included. Not an asking rent.
Lending
6.625%
Median rate, 30-year fixed conventional · 4,370 loans · 2025
2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Portland's census tracts: 5,532 loans. Loans that closed, not offers: a rate depends on your credit, down payment, points and the day you lock it.
- Middle half of rates
- 6.25% to 6.875%
- Loan costs at closing
- $6,393 medianMiddle half $4,655 to $9,485: origination charges (points included) and settlement services, Closing Disclosure section D · 4,728 loans
- Loan limits, 2026
- $832,750 conformingAbove it, a jumbo loan with its own rates and rules; FHA limit $701,500 (one-unit home, Multnomah County). Limits set by FHFA and HUD.
More lending figures
- Borrowed, every loan on the home combined
- 80% of the value (median)Middle half 75% to 95%. 47.6% of buyers borrowed more than 80% of the value, 31.9% more than 90%, 16.6% more than 95%. HMDA's combined loan-to-value counts every loan on the home (second loans, down-payment-assistance loans, financed FHA or VA fees) against the value the lender used, so it doesn't show the cash buyers put down · 5,449 loans
- Loan types
- Conventional 86.1% · FHA 10.3%VA 3.6% · USDA 0%
- Discount points
- 64% of loans paid pointsMedian paid: $2,975. Points buy a lower rate.
For comparison: 7.03% is Freddie Mac's average 30-year fixed rate for the week of Sep 24, 2026, for buyers with 20% down and excellent credit. It isn't an offer or an APR.
Flood and insurance
$1,261 a year
Median of 25 Portland ZIPs' average homeowners premiums, 2022. Premiums have risen since; get quotes for your address.
- Federal flood insurance
- 1,150 policies in force · 92 claims since 2000FEMA National Flood Insurance Program, summed over 26 ZIPs (policies in force Jun 30, 2026; claims since 2000). Private flood policies aren't counted.
- Policies insurers didn't renew
- 0.6% in the median ZIPU.S. Treasury Federal Insurance Office, 2022.
Most homeowners policies exclude flood, so flood insurance is a separate policy. Source: FEMA FloodSmart: What is my flood risk?, retrieved 2026-10-09 (opens in a new tab) Check an address on FEMA's flood map (opens in a new tab)
County hazard ratings (FEMA)
Natural hazards, compared with other U.S. counties
- Multnomah County, OR: expected yearly losses rated very high for earthquake; expected yearly losses rated relatively high for inland flooding, heat wave, winter weather.
Other ratings for Multnomah County, OR
- WildfireRelatively Low
- Coastal floodingRelatively Low
- TornadoRelatively Low
- HailVery Low
- Washington County, OR: expected yearly losses rated relatively high for earthquake, inland flooding, heat wave.
Other ratings for Washington County, OR
- WildfireVery Low
- Coastal floodingNo Expected Annual Losses
- TornadoRelatively Low
- Winter weatherRelatively Moderate
- HailRelatively Low
- Clackamas County, OR: expected yearly losses rated relatively high for earthquake, inland flooding, winter weather.
Other ratings for Clackamas County, OR
- WildfireRelatively Moderate
- Coastal floodingVery Low
- Heat waveRelatively Moderate
- TornadoRelatively Low
- HailRelatively Low
FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county (NRI December 2025): expected annual losses to buildings, people and agriculture; FEMA's social-vulnerability adjustments aren't included. This describes each county, not one home. Check an address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.
What's new in Portland
Rail openings, zoning changes and big projects from primary sources, newest first. News, not a price forecast.
- Rail opened
Gateway North MAX station opens
The new westbound Red Line station is part of A Better Red’s Gateway reliability work. This pin is Gateway North, not the older Gateway platforms to the south.
TriMet opening press release, republished by Mass Transit (opens in a new tab) - Zoning change
Housing Regulatory Relief code changes take effect
Ordinance 191609 suspends or reduces selected housing development standards and processes, with several temporary provisions. It complements, rather than replaces, Residential Infill capacity rules.
Portland Ordinance 191609, Housing Regulatory Relief (opens in a new tab)
Rules in Oregon
From state law, standard contract forms and local custom. Research, not legal advice.
- ClosingRule
- An escrow company runs the closing and holds the money.
- Seller's disclosureRule
- Seller's Property Disclosure Statement (ORS 105.464) You may cancel within 5 business days in some cases: after the seller delivers the disclosure statement; with no statement, any time until closing.
- Closing taxesRule
- Oregon and Portland charge no transfer or mortgage tax at closing in our research; recording fees still apply.
How buying works in Oregon
- Who runs the closing
- An escrow company runs the closing and holds the money. Typical time from contract to keys: about 30 days.
- The contract
- Your signed offer becomes a binding contract once the seller accepts it.
Details
OREF 001 Residential Real Estate Sale Agreement (Oregon Real Estate Forms, released 01/2026)
- Buyer agreement
- Written buyer representation agreement (OREF form; 24 months at most), signed before touring.
Details
Oregon law requires a written agreement before, or as soon as reasonably practicable after, an agent starts helping a buyer (ORS 696.810). NAR's 2024 rule requires one before any tour.
Source: ORS ch. 696 (696.290 fee sharing and rebates; 696.810 buyer agreements) (2025 edition, retrieved 2026-09-27)
- Inspection
- About 10 business days for inspections.
Details
OREF 001 'Suitability Period': 10 business days unless another number is filled in; deadlines end 5:00 p.m.
- Earnest money
- 1–3% of the price, due within 3 business days, held by: Escrow (a neutral Oregon escrow company).
Details
OREF 001 §31.1: deposited with escrow within 3 business days unless the offer says otherwise. Typical % is a sample.
- Seller's disclosure
- Seller's Property Disclosure Statement (ORS 105.464) You may cancel within 5 business days in some cases: after the seller delivers the disclosure statement; with no statement, any time until closing.
Details
The buyer may revoke the offer in writing and get every deposit back (ORS 105.475). New homes, bank-owned and court-ordered sales are exempt (ORS 105.470).
Source: ORS 105.464–105.490 seller's property disclosure; 105.475 revocation (2025 edition, retrieved 2026-09-27)
- Loan and appraisal
- Loan contingency: 20 business days (set in the contract).
Details
OREF 001: appraisal and loan contingencies each default to 20 business days. If the appraisal comes in low the buyer may renegotiate, waive or terminate.
- Title insurance
- The seller customarily pays for the owner's policy.
Details
OREF 001 §30: the seller pays the owner's standard policy; escrow costs are split; any transfer tax (only Washington County has one) is split.
- Property tax for a new owner
- The seller's assessment and its caps carry over; the sale doesn't reset it. Your bill starts from the seller's assessment; about 0.99% of the price a year is our planning figure for Portland.
Details
Measure 50: assessed value grows at most 3% a year and a sale doesn't reset it, so a buyer inherits the seller's assessed value (often well below the price).
Census ACS 2020–2024 median tax ÷ median value in Portland (0.99%). A buyer inherits the seller's Measure 50 assessed value, so the bill tracks the property's history, not the price; newer homes often pay more. Owner-reported values lag the market; treat as an estimate.
- Agent credits to the buyer
- Oregon doesn't allow an agent to credit part of their pay to the buyer: ask for a lower price instead.
Details
Oregon bans sharing a licensee's fee with unlicensed people, buyers included (ORS 696.290(1)(a)). Since 2025 part of the fee may go to a 501(c)(3) charity (696.290(1)(c)). A lower fee or a price cut is still possible.
Source: ORS ch. 696 (696.290 fee sharing and rebates; 696.810 buyer agreements) (2025 edition, retrieved 2026-09-27)
Closing taxes
Oregon and Portland charge no transfer or mortgage tax at closing in our research; recording fees still apply.
Sources (7)
- OREF 001 Residential Real Estate Sale Agreement (sample) · released 01/2026, retrieved 2026-09-27 (opens in a new tab)
- ORS ch. 696 (696.290 fee sharing and rebates; 696.810 buyer agreements) · 2025 edition, retrieved 2026-09-27 (opens in a new tab)
- ORS 105.464–105.490 seller's property disclosure; 105.475 revocation · 2025 edition, retrieved 2026-09-27 (opens in a new tab)
- Census ACS 2020–2024 5-year, city: median real estate taxes paid (B25103) ÷ median home value (B25077) · ACS 2020–2024 (opens in a new tab)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance Report: Data for 2023 (Tables 4–5; Homiy cites a few derived state figures) · 2023 data, published July 2026 (opens in a new tab)
- Census CHARS 2025: average contract price per sq ft of new contractor-built houses (excludes lot), by region · 2025 (opens in a new tab)
- FHFA 2026 conforming loan limits, county file · 2026 (opens in a new tab)
Programs and deadlines
Official pages for Portland, the same for every buyer. Each program decides who qualifies.
- Down-payment help
- Flex Lending (FirstHome and NextStep) (opens in a new tab) (Oregon Housing and Community Services (OHCS))FirstHome gives first-time buyers 4% or 5% of the loan amount as down payment assistance; NextStep pairs a first mortgage with a repayable or forgivable second mortgage.Official page, checked 2026-09-28.Oregon's housing finance agency runs it; the program decides who qualifies and for how much.
- Down-payment help in Portland
- Down Payment Assistance Loan Program (opens in a new tab) (Portland Housing Bureau)A down payment loan with favorable terms for first-time homebuyers buying within Portland's city limits.Official page, checked 2026-09-28.
- Homestead exemption
- Property tax exemptions (opens in a new tab) (Oregon Department of Revenue)At present Oregon has no statewide general homestead exemption or exemptions based solely on age or income; disabled or senior homeowners may qualify for a tax deferral.Official page, checked 2026-09-28.
- If you disagree with your assessment
- Appeal Types (opens in a new tab) (Multnomah County)If you disagree with the value on your tax statement, file a petition with the county's property value appeals board.When: from when the tax statement is mailed through December 31Official page, checked 2026-09-28.
- After you buy: alerts on your deed
- Property Recording Alert Service (PRAS) (opens in a new tab) (Multnomah County Clerk)A free service that emails you, the same day, when a recorded document is indexed under a name you monitor.Official page, checked 2026-09-28.
Sample homes in Portland, each with its estimated monthly cost and the things to check. Found one somewhere else? Check it here.
Sources (29)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2000–2025 (updated 2026-03-31) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted, quarterly: Portland-Vancouver-Hillsboro, OR-WA (metro area 38900) · 2000 Q1–2026 Q2 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA), with 90% margins of error: population, median household income, median home value, median gross rent, median real estate taxes paid, median monthly owner costs with a mortgage, owner-occupied share and units, owner homes in buildings with 5+ units, median year built · ACS 2020–2024 (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates (ZCTA): population and its margin of error, for the 5-year change and its significance test · ACS 2015–2019 (opens in a new tab)
- FHFA House Price Index, five-digit ZIP codes, annual (developmental, all-transactions) · 2025 (updated 2026-03-31) (opens in a new tab)
- U.S. Census Bureau, 2020 ZCTA to place relationship file, 2025 Gazetteer and cartographic boundaries (city ZIPs, centers, bounds) · 2020 ZCTAs; 2025 place boundaries (opens in a new tab)
- U.S. Census Bureau, Population Estimates, Vintage 2025 (metropolitan and micropolitan areas) · July 2020 → July 2025 (opens in a new tab)
- U.S. Census Bureau, Building Permits Survey: new privately-owned housing units authorized, by CBSA · Sep 2025–Aug 2026 (opens in a new tab)
- FEMA National Risk Index December 2025: Expected Annual Loss rating of each hazard, by county · NRI December 2025 (opens in a new tab)
- U.S. Department of Housing and Urban Development, Small Area Fair Market Rents by ZIP code, FY2027 · FY2027 (from Oct 1, 2026) (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Policies, version 3 (policies in force). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · in force Jun 30, 2026; data refreshed 2026-07-27; accessed 2026-09-27 (opens in a new tab)
- FEMA, OpenFEMA API: NFIP Redacted Claims, version 3 (claims since 2000). This product uses the Federal Emergency Management Agency’s OpenFEMA API, but is not endorsed by FEMA. The Federal Government or FEMA cannot vouch for the data or analyses derived from these data after the data have been retrieved from the Agency's website(s). · data refreshed 2026-08-04; accessed 2026-09-27 (opens in a new tab)
- U.S. Treasury, Federal Insurance Office: Analyses of U.S. Homeowners Insurance Markets, 2018–2022, Supporting Underlying Metrics by ZIP code (premiums per policy, nonrenewal rate) · 2018–2022 (published January 2025) (opens in a new tab)
- FHFA House Price Index, purchase-only, not seasonally adjusted: Portland-Vancouver-Hillsboro, OR-WA (metro area 38900) · 2026 Q2 (opens in a new tab)
- FHFA House Price Index, all-transactions, not seasonally adjusted: Portland-Vancouver-Hillsboro, OR-WA (metro area 38900), calendar-year averages of the quarterly index · 2020–2025 (opens in a new tab)
- U.S. Bureau of Labor Statistics, Current Employment Statistics, total nonfarm, not seasonally adjusted (series SMU41389000000000001) · Aug 2026 (preliminary) (opens in a new tab)
- U.S. Census Bureau, American Community Survey 5-year estimates for the city of Portland, OR (Census place 4159000): median home value, median household income, median gross rent, with 90% margins of error · ACS 2020–2024 (opens in a new tab)
- FFIEC Home Mortgage Disclosure Act (HMDA) data: 2025 Snapshot National Loan-Level Dataset (data as of June 1, 2026), via the CFPB HMDA Data Browser; Homiy's calculations · 2025 loans; retrieved 2026-09-27 (opens in a new tab)
- U.S. Department of Housing and Urban Development, FHA forward mortgage limits, one-unit limit for Multnomah County, OR · CY2026 (Mortgagee Letter 2025-23) (opens in a new tab)
- FTA National Transit Database, General Transit Feed Specification Weblinks: the public-domain GTFS feeds agencies must publish · retrieved 2026-09-27 (opens in a new tab)
- City of Portland / Tri-County Metropolitan Transportation District of Oregon: GTFS schedule · scheduled service 2026-09-27 to 2026-10-24 (opens in a new tab)
- OREF 001 Residential Real Estate Sale Agreement (sample) · released 01/2026, retrieved 2026-09-27 (opens in a new tab)
- ORS ch. 696 (696.290 fee sharing and rebates; 696.810 buyer agreements) · 2025 edition, retrieved 2026-09-27 (opens in a new tab)
- ORS 105.464–105.490 seller's property disclosure; 105.475 revocation · 2025 edition, retrieved 2026-09-27 (opens in a new tab)
- Census ACS 2020–2024 5-year, city: median real estate taxes paid (B25103) ÷ median home value (B25077) · ACS 2020–2024 (opens in a new tab)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owner's Insurance Report: Data for 2023 (Tables 4–5; Homiy cites a few derived state figures) · 2023 data, published July 2026 (opens in a new tab)
- Census CHARS 2025: average contract price per sq ft of new contractor-built houses (excludes lot), by region · 2025 (opens in a new tab)
- FHFA 2026 conforming loan limits, county file · 2026 (opens in a new tab)
- Freddie Mac average (Primary Mortgage Market Survey) · Sep 24, 2026 (opens in a new tab)