Real Estate Investing in Portland, Oregon (97229)
Should you buy in 97229 (Portland, OR)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
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 28.6 — hard to cash-flow at these prices.
What’s happening in Portland, OR (97229)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97229 Portland
The 97229 ZIP covers a section of Portland that demands careful diligence. Prices near $741K look accessible, but the work to make a deal cash flow is real.
For an experienced owner, 97229 can be a a solid fit for hunting ground — but the discount at $741K reflects genuine risk that outside investors often underestimate.
Within OR, ZIP 97229 trails on several market indicators that neighboring Washington County submarkets outperform. The gap is real and significant enough to shape underwriting.
Resident income in 97229 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Portland's stable or hybrid ZIPs before stepping into 97229. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Portland:
Property Strategy for 97229
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $235,551 | $1,880 | 5.7% | +3.7% | $235,551 |
| 2BR | $404,758 | $2,150 | 3.8% | +3.1% | $202,379 |
| 3BR | $605,755 | $2,930 | 3.5% | +4.3% | $201,918 |
| 4BR | $787,129 | $3,480 | 3.2% | +4.7% | $196,782 |
| 5BR | $940,896 | — | — | +4.9% | $188,179 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 97229 Compare?
| Metric | 97229 | Portland | Oregon |
|---|---|---|---|
| Home Value | $741,191 | $523,055 | $493,884 |
| 5-Year CAGR | 3.2% | 0.9% | 4.9% |
| Avg Rent | $2,161 | $1,755 | - |
| Cap Rate | 2.3% | 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 97229 (Portland, OR). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 97229 (Portland, OR)?
~25 seconds · no account needed · your report is anonymous
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 | $741,191 |
| Monthly Rent | $2,161 |
| Price-to-Rent | 28.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.5% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | -2.1% ▼ |
| 3-Year CAGR | -0.2% ▼ |
| 5-Year CAGR | +3.2% ▲ |
| 10-Year CAGR | +4.0% ▲ |
🏠 Rent Trends
| 1-Year | -5.6% ▼ |
| 3-Year CAGR | -1.1% ▼ |
| 5-Year CAGR | +2.8% ▲ |
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 97229
Population: 75,626
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 97229
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 3,283 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Portland, OR?
Homes in Portland, OR typically sell near $741K. Prices have moved at a 0.0% 5-year CAGR, which predictable long-term demand.
Are tenants stable in Portland, OR?
Portland, OR offers a predictable renter base at the $2,161/mo rent level. Tenant turnover is reasonable for well-managed properties.
Is Portland, OR better for rentals, flips, or BRRRR?
Most investors in Portland, OR run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Should investors worry about vacancy in Portland, OR?
Occupancy in Portland, OR runs consistent with elevated vacancy. Well-priced units at $2,161/mo lease on reasonable timelines.
What is it like being a landlord in Portland, OR?
For rental operators, Portland, OR rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.
See what 97229 really looks like for investors
You're reading the free snapshot. Unlock appreciation trends, cap rates, vacancy signals, Section 8 data, and full demographics for 97229.
AI Market Advisor
Ask questions about investing in 97229 (Portland)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 97229 (Portland, OR).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.