Currently, as of the publishing of this post, the average home price in Portland is $417,000 and the average home price in Vancouver is $323,000. Quite a big difference for folks looking for a single-family home. In addition, the market is now hotter in Vancouver than it is in Portland and Portland has been cooling off for some time. Many people feel that they have been priced right out of Portland and they can either go south to Wilsonville or Tualatin or North to Vancouver. The downside is that if you work in Portland you will have to deal with traffic and that can be a bear going from Vancouver to Portland and back again.
Home values in Portland have actually declined over the past year at a rate of 1.9% but have gone up in Vancouver at 4.6%, even though the average price is still nearly $100,000 less than Portland.
The average rent is quite a bit higher in Portland as well. The current median rent per month in Portland is about $2200 but it's only $1850 in Vancouver.
According to Trulia the median sales price in Vancouver is $345,000 but the median sales price in Portland is nearly $436,000. We have a price per square foot coming in at about $300 whereas in Vancouver it's only $215.
But of course, the market is a little bit hotter. Now that school has started sellers will be more motivated to get rid of their homes and so buyers may have a great new platform to work with. Homes that didn't sell over the summer may be taking lower-priced offers and you may be able to get a great home at a great price if you don't mind going across the water.