Vancouver Washington is the new hotness. Portland has literally priced a lot of first time home buyers right out of the market and so they're moving north to Washington. Just across the river, home prices are approximately $100,000 less on average than they are in Portland and rent is about three to $400 less expensive as well. So if you're thinking about living in the Portland Metro area, don't negate Vancouver off of that list. So how much are starter homes in Vancouver Washington?
Condominiums, townhouses, and older, smaller homes with just one bedroom and one bath, less than 1000 ft.² can start anywhere from around $115,000-$180,000. Some of these properties it may need a little bit of work, however, unless you choose a smaller square footage property.
For around $160,000 you can get a three-bedroom, two-bath home, with around 1700 ft.² but again, it might need a little bit of work.
Condominiums with one bedroom and one bath for around 700 ft.² can start at about $150,000.
Manufacturer homes can also start between $125,000 and $200,000.
Higher-end townhouses with over 1000 ft.² start at about $175,000.
Currently, as of the publishing of this post, there were 43 properties for sale between $100,000 and $200,000. But jump up into the $200,000-$300,000 markets and we're talking 135,000 results. This is quite a bit different than the Portland area where you're likely to have less than 50.
Three bedrooms, two bath townhouses in Vancouver with about 1300 ft.² are priced at $210,000.
Starter homes on a little bit of land may be upwards of $250,000 but again, this is for a smaller property, typically around 1000 ft.².
Moving to the $240,000 mark, you have a lot more choices with townhouses up to 1800 ft.², condominiums with the garages and two and three bedrooms, buildable lots for around $250,000 that offer at least a half an acre, and even a few move-in ready brand-new homes that are less than 1000 ft.².
Now, jump up to the $300,000-$400,000 mark and you're really getting into the sweet spot of starter homes. Here you're looking at about $1800-$2200 mortgage, which is about average for most homeowners in the Vancouver area. Here we're talking brand-new homes, starter homes, or homes on larger lots. We're really talking about size and condition in this price range. You might get a smaller home on a larger lot for the same price as a brand-new home on a small lot. There are a lot of different choices within this price range but again, this is where the difference between Portland and Vancouver really is evident. A $350,000 house in Vancouver will be $480,000 in Portland and your less than a half an hour away.
Of course, you do have traffic and commute issues. There are two major freeways going to and from Vancouver and Portland, Interstate 5 and Interstate 205. Both of them can be pretty congested during heavy traffic hours so it's important to plan accordingly to where you work if you work in Portland. (Image above from MLS Listing of Vancouver Homes)