Real Estate Investing in Hillsboro, Oregon (97123)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97123 (Hillsboro, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
No major risk flags on the data we track.
What’s happening in Hillsboro, OR (97123)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97123 Hillsboro
Meanwhile, ZIP 97123 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $523K median. It rewards specialists, not generalists.
Rent of $2,404/mo on a $523K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97123 sits below the stated 0.0% once reality is priced in.
Within OR, ZIP 97123 trails on several market indicators that neighboring Washington County submarkets outperform. The gap is real and solid enough to shape underwriting.
Employment concentration in 97123 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Hillsboro:
Property Strategy for 97123
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $397,398 | $1,980 | 3.6% | +3.8% | $198,699 |
| 3BR | $501,479 | $2,700 | 3.9% | +4.5% | $167,160 |
| 4BR | $608,721 | $3,200 | 3.8% | +4.9% | $152,180 |
| 5BR | $732,103 | — | — | +5.7% | $146,421 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97123 Compare?
| Metric | 97123 | Hillsboro | Oregon |
|---|---|---|---|
| Home Value | $522,539 | $530,104 | $493,884 |
| 5-Year CAGR | 1.5% | 1.8% | 4.9% |
| Avg Rent | $2,404 | $2,151 | - |
| Cap Rate | 3.6% | 3.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97123 (Hillsboro, OR). Anonymous, moderated, never written by AI.
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Property managers serving Washington County
Manage rentals here? List your business →Shamrock Community & Property Management offers Community Association Management services. summary from their website
PreciseRentals.com is a domain name for sale. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $522,539 |
| Monthly Rent | $2,404 |
| Price-to-Rent | 18.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | -1.5% ▼ |
| 3-Year CAGR | -0.8% ▼ |
| 5-Year CAGR | +1.5% ▲ |
| 10-Year CAGR | +4.9% ▲ |
🏠 Rent Trends
| 1-Year | -2.4% ▼ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +3.2% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97123
Population: 48,622
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97123
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 8,393 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Hillsboro, OR?
Hillsboro, OR home values average about $523K. That price point suits investors targeting rentals with $2,404/mo in monthly income.
How deep is the rental pool in Hillsboro, OR?
The tenant pool in Hillsboro, OR is solid, supported by local employment and population fundamentals. Rents of $2,404/mo are well-absorbed by the market.
How tight is the rental market in Hillsboro, OR?
Hillsboro, OR carries elevated vacancy risk. Expect stable absorption at market rents of $2,404/mo.
Which investment style suits Hillsboro, OR?
A careful cash-flow rentals with hands-on management strategy Hillsboro, OR best. The market produces steady results for that approach at the $523K price point.
How much is rent in Hillsboro, OR?
Rents in Hillsboro, OR run near $2,404/mo. Compared with median home prices of $523K that produces solid gross yields for typical rentals.
You know 97123 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97123 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97123 ranks in Portland-Vancouver-Hillsboro, OR-WA
Every ZIP in this metro, ranked. Free.
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