Real Estate Investing in Milwaukie, Oregon (97222)
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Should you buy in 97222 (Milwaukie, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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 Milwaukie, OR (97222)?
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Market Analysis: 97222 Milwaukie
Investors eyeing 97222 need to respect the fundamentals at play. Home values of $498K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 97222 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 97222 sits on the difficult end of the OR spectrum. The a solid fit for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 97222 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 97222 is an operator game, not a passive one. Stepping back, entry prices of $498K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Milwaukie:
Property Strategy for 97222
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $324,186 | $1,630 | 3.6% | +2.9% | $324,186 |
| 2BR | $388,664 | $1,870 | 3.5% | +3.6% | $194,332 |
| 3BR | $482,337 | $2,550 | 3.8% | +4.3% | $160,779 |
| 4BR | $571,747 | $3,020 | 3.8% | +4.6% | $142,937 |
| 5BR | $636,110 | — | — | +4.2% | $127,222 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97222 Compare?
| Metric | 97222 | Milwaukie | Oregon |
|---|---|---|---|
| Home Value | $498,067 | $498,067 | $493,884 |
| 5-Year CAGR | 2.0% | 2.0% | 4.9% |
| Avg Rent | $1,765 | $1,765 | - |
| Cap Rate | 2.8% | 2.8% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97222 (Milwaukie, OR). Anonymous, moderated, never written by AI.
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Property managers serving Clackamas County
Manage rentals here? List your business →Eagle Property Management is Portland's premier property management team, serving Portland and Lake Oswego, OR. summary from their website
Illume Property Management and North Coast Property Management eliminate the stress of property ownership and remodeling in the Portland Metro Area and on the Oregon Coast. summary from their website
Real Property Management helps protect investments, provides professional service, minimizes costs, and maximizes income for property owners. 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 | $498,067 |
| Monthly Rent | $1,765 |
| Price-to-Rent | 23.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 4.7% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +2.0% ▲ |
| 10-Year CAGR | +4.8% ▲ |
🏠 Rent Trends
| 1-Year | +3.8% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +3.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 97222
Population: 36,643
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 97222
Schools in This ZIP Code
About Repit School Scores
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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
Frequently Asked Questions
Is it easy to find good tenants in Milwaukie, OR?
The renter base in Milwaukie, OR is reasonable for the $1,765/mo price point. Screening well and pricing to market typically yields predictable tenants.
Does Milwaukie, OR make sense for an investment property?
The 2.0/5 investability rating in Milwaukie, OR reflects its $498K prices and $1,765/mo rents. Investors generally consider it a solid option within OR.
What investment strategy works best in Milwaukie, OR?
In Milwaukie, OR the durable play is typically careful cash-flow rentals with hands-on management. The combination of $498K prices and $1,765/mo rents suits that approach.
Is rental property easy to operate in Milwaukie, OR?
The landlord environment in Milwaukie, OR is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What is the rental occupancy rate in Milwaukie, OR?
Milwaukie, OR vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 97222 now. You don’t know where it ranks.
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How 97222 ranks in Portland-Vancouver-Hillsboro, OR-WA
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