Real Estate Investing in Tigard, Oregon (97223)
Should you buy in 97223 (Tigard, OR)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 25.2 — hard to cash-flow at these prices.
What’s happening in Tigard, OR (97223)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97223 Tigard
Meanwhile, ZIP 97223 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $595K median. It rewards specialists, not generalists.
Distressed markets are won on execution, not on spreadsheets. ZIP 97223 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Tigard have seen price recovery that 97223 has not matched. Washington County data supports the view that the spread is structural rather than temporary.
Demographically, 97223 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 97223 is an operator game, not a passive one. In practical terms, entry prices of $595K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Tigard:
Property Strategy for 97223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $254,234 | $1,770 | 5.0% | +2.3% | $254,234 |
| 2BR | $382,538 | $2,030 | 3.8% | +3.9% | $191,269 |
| 3BR | $547,826 | $2,770 | 3.6% | +4.9% | $182,609 |
| 4BR | $670,425 | $3,280 | 3.5% | +4.9% | $167,606 |
| 5BR | $777,690 | — | — | +5.3% | $155,538 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97223 Compare?
| Metric | 97223 | Tigard | Oregon |
|---|---|---|---|
| Home Value | $594,953 | $602,554 | $493,884 |
| 5-Year CAGR | 3.2% | 3.1% | 4.9% |
| Avg Rent | $1,969 | $1,886 | - |
| Cap Rate | 2.6% | 2.4% | - |
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 97223 (Tigard, OR). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 97223 (Tigard, OR)?
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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 | $594,953 |
| Monthly Rent | $1,969 |
| Price-to-Rent | 25.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.7% |
📈 Home Appreciation
| 1-Year | +0.1% ▲ |
| 3-Year CAGR | +0.9% ▲ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +5.1% ▲ |
🏠 Rent Trends
| 1-Year | -4.2% ▼ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.6%). 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 97223
Population: 50,226
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 97223
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Art Rutkin Elementary School
McKay Elementary School
Fir Grove Elementary School
Alberta Rider Elementary School
Deer Creek 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 8,393 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do landlords face vacancy issues in Tigard, OR?
Occupancy in Tigard, OR runs steady with elevated vacancy. Well-priced units at $1,969/mo lease on reasonable timelines.
Is OR a landlord-friendly state?
OR ranks as a landlord-friendly state for landlord-tenant law. Tigard generally follows the statewide framework, so landlords face reasonable operating rules.
How much is rent in Tigard, OR?
Average rent in Tigard, OR is approximately $1,969/mo per month. Against $595K home values that yields a reasonable rent-to-price ratio.
How deep is the rental pool in Tigard, OR?
Tigard, OR draws a reliable base of working renters. Demand at the $1,969/mo rent level is reasonable for standard single-family and small multi rentals.
What kind of market is Tigard, OR for investors?
Tigard, OR scores 3.0/5 for investability. Home values sit at $595K and rents near $1,969/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
See what 97223 really looks like for investors
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