Real Estate Investing in Portland, Oregon (97230)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97230 (Portland, OR)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Flat appreciation: Values have barely moved over 5 years (1.3% CAGR).
- High price-to-rent: Price-to-rent ratio 25.6 — hard to cash-flow at these prices.
What’s happening in Portland, OR (97230)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97230 Portland
ZIP 97230 in Portland, OR carries a significant set of headwinds. Home values near $459K and rents of $1,494/mo sit inside a market where underwriting has to be tight.
The investment case in 97230 is notable only for operators who understand what they are buying. A $459K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 97230's metrics run below Multnomah County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 97230 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.
looks to 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 Portland:
Property Strategy for 97230
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $349,393 | $1,810 | 3.7% | +2.6% | $174,697 |
| 3BR | $442,099 | $2,470 | 4.0% | +3.9% | $147,366 |
| 4BR | $505,120 | $2,930 | 4.2% | +4.1% | $126,280 |
| 5BR | $556,737 | — | — | +4.1% | $111,347 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97230 Compare?
| Metric | 97230 | Portland | Oregon |
|---|---|---|---|
| Home Value | $458,613 | $517,965 | $493,884 |
| 5-Year CAGR | 1.3% | 0.1% | 4.9% |
| Avg Rent | $1,494 | $1,754 | - |
| Cap Rate | 2.5% | 2.6% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97230 (Portland, OR). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 97230 (Portland, OR)?
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Property managers serving Multnomah County
Manage rentals here? List your business →AMS Association Management Services NW provides HOA Management Services. summary from their website
Gateway Property Management offers residential property management services in Portland, OR. summary from their website
Grid Property Management is a Portland-based firm providing full-service management and leasing for residential and industrial properties. 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 | $458,613 |
| Monthly Rent | $1,494 |
| Price-to-Rent | 25.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 3.8% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +1.3% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | -5.2% ▼ |
| 3-Year CAGR | -0.3% ▼ |
| 5-Year CAGR | +2.0% ▲ |
The current 30-yr mortgage rate (7.0%) exceeds the estimated cap rate (2.5%). 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 97230
Population: 41,682
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 97230
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 2,401 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Portland, OR?
Median home price in Portland, OR is near $459K, with a 5-year CAGR of 0.0%. Prices have been reliable and supportive of buy-and-hold strategies.
How landlord-friendly is Portland, OR?
The landlord environment in Portland, OR is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
How strong is the working-renter base in Portland, OR?
Tenant demand in Portland, OR is solid. The local workforce $1,494/mo rents across most rental classes.
Is Portland, OR good for house hacking?
House hacking in Portland, OR is a challenging. With home values around $459K and rents at $1,494/mo, owner-occupants can offset a meaningful share of PITI.
What is the best play in Portland, OR?
Portland, OR investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($459K prices, $1,494/mo rents) make it a reasonable choice.
You know 97230 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97230 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 97230 ranks in Portland-Vancouver-Hillsboro, OR-WA
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