Real Estate Investing in Portland, Oregon (97202)
Should you buy in 97202 (Portland, 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.
- Flat appreciation: Values have barely moved over 5 years (1.1% CAGR).
- High price-to-rent: Price-to-rent ratio 32.6 — hard to cash-flow at these prices.
What’s happening in Portland, OR (97202)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97202 Portland
The 97202 ZIP in Portland, OR is a local-operator market. Outside capital chasing a $642K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 97202 shows the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
ZIP 97202'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.
The 97202 ZIP's population of 44,107 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Distressed ZIPs reward experience. solid returns are possible in 97202, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Portland:
Property Strategy for 97202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $394,996 | $1,790 | 3.3% | -0.3% | $394,996 |
| 2BR | $492,060 | $2,050 | 3.0% | +1.2% | $246,030 |
| 3BR | $627,891 | $2,790 | 3.2% | +2.1% | $209,297 |
| 4BR | $763,366 | $3,320 | 3.1% | +2.4% | $190,841 |
| 5BR | $848,049 | — | — | +2.3% | $169,610 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97202 Compare?
| Metric | 97202 | Portland | Oregon |
|---|---|---|---|
| Home Value | $641,979 | $523,055 | $493,884 |
| 5-Year CAGR | 1.1% | 0.9% | 4.9% |
| Avg Rent | $1,644 | $1,755 | - |
| Cap Rate | 2.0% | 2.5% | - |
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 97202 (Portland, OR). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 97202 (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 | $641,979 |
| Monthly Rent | $1,644 |
| Price-to-Rent | 32.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.1% |
| Cap Rate | 2.0% |
| 5-Year IRR | 3.1% |
📈 Home Appreciation
| 1-Year | +4.2% ▲ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +1.1% ▲ |
| 10-Year CAGR | +2.7% ▲ |
🏠 Rent Trends
| 1-Year | -2.5% ▼ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | +2.2% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.0%). 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 97202
Population: 44,107
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 97202
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lane Middle School
Le Monde French Immersion Public Charter School
Woodmere Elementary School
Atkinson Elementary School
Buckman Elementary 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
Investor Insight: With 3,283 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is Portland, OR better for rentals, flips, or BRRRR?
In Portland, OR the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $642K prices and $1,644/mo rents suits that approach.
What is the typical home price in Portland, OR?
Expect median prices around $642K in Portland, OR. The market has run at a 0.0% 5-year CAGR, so entry costs have been reliable.
How much is rent in Portland, OR?
Rent in Portland, OR is around $1,644/mo. The resulting rent-to-value relationship with $642K pricing is reasonable for most investor models.
What kind of vacancy should I budget for in Portland, OR?
Portland, OR sees elevated vacancy, which is reasonable relative to the broader OR rental market.
How strong is the working-renter base in Portland, OR?
The tenant pool in Portland, OR is solid, supported by local employment and population fundamentals. Rents of $1,644/mo are well-absorbed by the market.
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