Real Estate Investing in Clackamas, Oregon (97015)
Should you buy in 97015 (Clackamas, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 27.9 — hard to cash-flow at these prices.
What’s happening in Clackamas, OR (97015)?
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Market Analysis: 97015 Clackamas
Investors eyeing 97015 need to respect the fundamentals at play. Home values of $589K come alongside slower price movement and elevated management overhead.
Distressed markets are won on execution, not on spreadsheets. ZIP 97015 reflects the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Regionally, 97015 sits on the difficult end of the OR spectrum. The a credible choice for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 97015 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.
The 97015 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Clackamas:
Property Strategy for 97015
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $357,359 | $2,030 | 4.1% | +3.1% | $178,679 |
| 3BR | $547,647 | $2,770 | 3.6% | +5.3% | $182,549 |
| 4BR | $651,359 | $3,280 | 3.6% | +5.2% | $162,840 |
| 5BR | $714,239 | — | — | +5.6% | $142,848 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97015 Compare?
| Metric | 97015 | Clackamas | Oregon |
|---|---|---|---|
| Home Value | $588,860 | $588,860 | $493,884 |
| 5-Year CAGR | 3.5% | 3.5% | 4.9% |
| Avg Rent | $1,756 | $1,756 | - |
| Cap Rate | 2.3% | 2.3% | - |
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 97015 (Clackamas, 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 | $588,860 |
| Monthly Rent | $1,756 |
| Price-to-Rent | 27.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.9% |
📈 Home Appreciation
| 1-Year | -0.4% ▼ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | -4.6% ▼ |
| 3-Year CAGR | -1.6% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.3%). 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 97015
Population: 24,166
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 97015
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Happy Valley Elementary School
Mount Scott Elementary School
Scouters Mountain Elementary
Spring Mountain Elementary School
Happy Valley Middle School
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
Frequently Asked Questions
Do landlords face vacancy issues in Clackamas, OR?
Expect elevated vacancy in Clackamas, OR. Rents at $1,756/mo are absorbed by the tenant base without meaningful lag.
How strong is tenant demand in Clackamas, OR?
Working renters make up the core of the Clackamas, OR tenant base. The pool is reasonable for investors targeting long-term holds.
Is Clackamas, OR a good place for real estate investing?
Yes - Clackamas, OR a 3.0/5 investability score. With $589K home prices against $1,756/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is Clackamas, OR a good market for FHA house hackers?
Clackamas, OR offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,756/mo rent level.
How much should I expect to pay for a home in Clackamas, OR?
Typical homes in Clackamas, OR go for around $589K. The 5-year CAGR of 0.0% consistent price movement.
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