Affordable homes in Portland Oregon

Affordable homes of course are all relative and it depends on how much home you can afford before you realize if the home is affordable for your budget or not. Salaries in certain cities can certainly stretch farther than in others and Portland Oregon is no exception. Portland tends to be on the moderately high side of living for the rest of the country but certainly not as high as homes in San Francisco, San Diego, Washington DC or New York.

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Portland Oregon tends to be a popular place to live and is becoming even more popular, so home prices are naturally going to rise. Downtown Portland is going to be a little bit more expensive than the surrounding areas but there are pockets of luxury homes in affluent neighborhoods as well. The average home price in Portland Oregon is around $300,000 for a single detached home. Condominiums in downtown can run the gamut from  $150,000 to over $1 million for luxury, high-rise condos.

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Overall for the rest of the country, especially the Midwest states, salaries tend to be a little bit higher anywhere from $10,000 to $15-$20,000 over the national average for the same job. If you’re looking at moving from Southern California to the Portland Oregon area and you make roughly hundred thousand dollars a year is you’re likely to be making about $85,000 for the same job, although home prices tend to be quite a bit different. The same home in Los Angeles County maybe $400 or $500,000 whereas a similar home in Portland maybe just $350,000. Because real estate is a little bit scarcer in the southern California area, home prices will naturally be higher.

Eastside

On the East side of Portland mainly around Gresham, Hazelwood, and East Portland neighborhoods, the average home price is about $120,000. Although you can find homes upwards of three or $400,000 but they are pretty rare. Typically, on the West side of Portland up around Oak Hills, Hillsboro, Forest-Heights and Beaverton, the average home price is going to be around $400,000 with home prices reaching as high as $1.5 million for luxury estates on several acres.

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As I first said, affordable home prices are always relative but there tends to be the greatest draw with homes around $250-$350,000. You can typically find a great home in this price range in the Portland area and many home prices fall within this category. But you don’t want to wait too long; many of these homes fly off the market rapidly so finding the right home at the right price is something you want to present an offer on fairly quickly.

Read more: Where Should I Live in Portland?

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