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Prototype of a planned home-buying brokerage for the 50 largest U.S. cities. Not a licensed brokerage in any state, and no brokerage services are offered. Listings, people and companies are sample data; market statistics are real public data, cited where shown.

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Trends · Oregon

House prices and costs in Portland, OR

How house prices moved across 26 Portland ZIP codes, what buyers here borrowed and paid, what's new and how buying works in Oregon. Public data, with sources and dates. Past change, not a forecast.

Portland-Vancouver-Hillsboro, OR-WA metro house prices -0.8% in the year to 2026 Q2 (FHFA, purchases)

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.

How house prices moved in Portland, 2022–2025

Of 22 ZIPs with enough data, 0 rose 7% or more, 0 fell 7% or more and 22 moved less (no clear change). Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Past change, not a forecast.

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. Tap a ZIP to see it on the map.

Largest house-price rises, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

No Portland ZIP's house prices rose 7% or more from 2022 to 2025.

Largest house-price falls, 2022–2025

3-year change of the ZIP index; ZIPs with an index every year, 5,000+ residents and 1,000+ owner-occupied homes. Left out as too jumpy: a ZIP whose index rose 7% or more in one year and fell as much in another. Each year's change below.

No Portland ZIP's house prices fell 7% or more from 2022 to 2025.

Lowest owner-reported values

Median value owners report (Census ACS 2020–2024). Left out: ZIPs under 1,000 residents, less reliable estimates, and ZIPs where most owners live in condos or co-ops.

  1. 1ZIP 97233± $11K · ≈ $2,630/mo housing payment (est.) on a house, 20% down$415K
  2. 2ZIP 97236± $12K · ≈ $2,762/mo housing payment (est.) on a house, 20% down$436K
  3. 3ZIP 97266± $14K · ≈ $2,821/mo housing payment (est.) on a house, 20% down$446K
  4. 4ZIP 97220± $10K · ≈ $2,849/mo housing payment (est.) on a house, 20% down$450K
  5. 5ZIP 97230± $7.7K · ≈ $2,852/mo housing payment (est.) on a house, 20% down$451K

Population grew most

Residents, 2015–2019 to 2020–2024 (Census ACS): only changes larger than the margin of error, in ZIPs with 1,000+ residents.

  1. 1ZIP 972059,121 residents+22.2%
  2. 2ZIP 97209 · includes Pearl District22,296 residents+17.5%
  3. 3ZIP 9723215,615 residents+13.9%
  4. 4ZIP 9723043,553 residents+9.5%

Public loan records · 2025

What buyers here actually borrowed and paid (2025)

2025 home-purchase loans (first liens) on owner-occupied 1–4 unit homes in Portland's census tracts: 5,532 loans. These are loans that closed in Portland, not offers: a rate depends on your credit, down payment, points and the day you lock it.

Interest rate, 30-year fixed (conventional)
6.25% to 6.875%Middle half of loans; median 6.625% · 4,370 loans
Loan costs at closing
$4,655 to $9,485Middle half; median $6,393. Origination charges (points included) and settlement services, Closing Disclosure section D · 4,728 loans
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: every loan on the home (second loans, down-payment-assistance loans and financed FHA or VA fees too) ÷ 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.
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)

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. Source: 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).

Research · dated and sourced

What's new in Portland

Rail openings, zoning changes and big projects from primary sources, newest first. Stars on the map mark the ones with a location. News, not a price forecast.

  1. 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.

    Near ZIP 97220

    TriMet opening press release, republished by Mass Transit
  2. 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

Metro area · public data

Portland-Vancouver-Hillsboro, OR-WA

House prices, year to 2026 Q2
-0.8%FHFA purchase-only index
House prices, 5 years to 2026 Q2
+12.8%FHFA purchase-only index
House prices, 2025
+2.2%All sales and refinances, like the ZIP figures; 2022–2025: +3.7%
New homes permitted
3.6 per 1,000 residents9,266 homes · +4.2% vs a year earlier · Sep 2025–Aug 2026
Jobs, 12 months
-1.5%Aug 2026 (preliminary)
Population, July 2020 to July 2025
+1.0%2,542,282 residents in July 2025 (Census estimates)
Mortgage rate benchmark
7.03%Freddie Mac average, week of Sep 24, 2026

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. New homes permitted is a supply signal: more permits per resident usually means more homes coming to market. Jobs, permits and population cover the whole metro.

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 this home. Check the address on FEMA's flood map; in a high-risk flood zone, a federally backed loan requires flood insurance.

Sources (9)

Research summary · not legal advice

How buying works in Oregon

The usual steps, deadlines and closing costs for a purchase in Portland, from state law, standard contract forms and local custom. Contracts can change any of it. Homiy is a prototype: it isn't a licensed brokerage in Oregon and offers no services here.

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.

Programs and after you buy

Down-payment help
Flex Lending (FirstHome and NextStep) (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 (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 (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 (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) (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.
Sources (7)

Methodology

How we measure, and what it isn't

Past change, not a forecast. These figures describe the past from public data; they don't tell you where prices go next.

House prices by ZIP, and the rankings

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. It's built from repeat sales and refinance appraisals of the same homes, not average sale prices, and FHFA publishes no margin of error for it. We rank ZIPs by the change over the last 3 years, only where FHFA published the index in every one of them, and only ZIPs with 5,000+ residents and 1,000+ owner-occupied homes. A change smaller than 7% either way is “no clear change”: in our 50 cities, the index's own year-to-year swings suggest sampling alone can move a three-year change about that much. A ZIP whose index rose 7% or more in one year and fell as much in another is left out as too jumpy. We show rises and falls, each year's change, and the city's and metro's figures for the same years. Past rankings are a weak guide: of the ZIPs in their city's top 3 for 2019–2022, 25 of 134 (about 1 in 5) were top 3 again for 2022–2025; chance alone would give about 21. Many ZIPs, especially dense ones, have no index.

City and metro price figures

City: the resident-weighted average of its ZIPs that have an index (the ZIP card says when that's only part of the city). Metro: FHFA's all-transactions index over the same calendar years, the ZIPs' method; the metro card also shows FHFA's purchase-only index for the latest quarter against a year and five years earlier. Where FHFA splits a metro into divisions (New York, Miami, Detroit and others), the division's index, named where it's shown. Jobs, permits and population always cover the whole metro.

Payment ÷ income

Monthly housing payment (est.) on a house at the ZIP's median value: 20% down · 30-year fixed at 7.03% (Freddie Mac average) · 360 monthly loan payments · 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. Property tax uses Portland's rule for a new buyer (about 0.99% of the price a year, our planning figure); insurance is a typical premium. Not included: upkeep, utilities, flood insurance, special assessments. Divided by a month of the ZIP's median household income. The Census reports values over $2 million and incomes over $250,000 only as “or more”, so those shares are bounds (“at least”, “at most”). Left out where 50% or more of owner-occupied homes are in buildings with 5+ units: their HOA dues or co-op charges aren't in the payment. It combines two estimates, so no margin is computed. 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.

Census figures and margins of error

American Community Survey 5-year estimates, 2020–2024: the median value owners report for their homes (it lags sale prices; co-op owners report the value of their shares), median rent with utilities, median household income, residents, and the property tax and monthly costs owners report. Each comes with its 90% margin of error (±). Figures whose margin is 20–49% of the estimate are marked “less reliable” and left out of rankings and tags; figures with wider margins aren't shown. A population change (from 2015–2019) is shown only when it passes the Census Bureau's 90% significance test; otherwise it says “no clear change”. Portland's own figures come from the Census's estimates for the city itself where published; otherwise they blend its ZIPs (no margin computed). Lists leave out ZIPs with fewer than 1,000 residents.

Tags

Lower home values:
The median value owners report is in the lowest quarter of the city's ZIPs (Census ACS). Less reliable estimates and ZIPs where most owners live in condos or co-ops aren't compared.
Population grew:
Residents rose 5% or more between the two latest five-year Census surveys, by more than the margin of error.
Mostly condos or co-ops:
Half or more of owner-occupied homes are in buildings with 5 or more units. Values there leave out HOA dues and co-op charges, so they aren't ranked.
New rail nearby:
A rail station opened within about a mile in 2023–2026.

“New rail nearby” uses our dated news pins: a ZIP whose center is within 1,600 m of a station that opened, plus the ZIP the station sits in. No tag describes price momentum.

Hazards and flood insurance

FEMA's National Risk Index rates each county's expected yearly losses from each hazard against all U.S. counties; we show those Expected Annual Loss ratings for every county the city lies in, without FEMA's social-vulnerability adjustments. They describe counties, not homes. Flood insurance counts are policies and claims in the federal program (NFIP) only. Check an address's flood zone on FEMA's flood map.

What buyers borrowed and paid

Public HMDA loan records: home-purchase first liens on owner-occupied 1–4 unit homes in the city (the card names the area covered), with the number of loans behind each figure. Loans that closed, not offers or quotes.

Neutral by design

We describe prices, payments, population counts, construction and rail lines. We don't describe places by who lives there, schools or crime, and we don't call areas “up-and-coming”, “transitional” or “safe”. Choose where to live for your own reasons.

Sources and dates