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Portland

As the largest city in the State of Oregon, Portland has a population of 647,805. This makes it the 26th most populous city in the United States. The city may just move up that list as the rate for population growth is forecast to be twice that of the national rate over the next year. A large and rapidly growing population is a positive trend for any housing market but it’s also important to note that almost half of the population in the Portland real estate market lives in rental properties as opposed to owning their own homes (48% according to NeighborhoodScout). This means that buying a rental property in Portland can make for a lucrative real estate investment.

This future population growth should aid the economy in Portland which, although strong and diverse, has had an issue with attracting qualified labor in the past. In fact, over the last year, the Portland job market only saw a growth of 0.9%. However, with the increase in population, the job market is expected to experience a growth of 42.4% over the next 10 years which is higher than the US national average growth rate of 33.5% for the same time period.

Despite the slow job growth, Portland’s economy is actually flourishing. Historically, this is the best time for the City of Portland and its economy. Currently, Portland is the 3rd largest export tonnage port on the West Coast. In general, the city is a major distribution hub. This can be attributed not only to the port but also Portland’s position near the major interstate freeway systems and the West and East Coast intercontinental railroad systems as well as its international air service. Another major industry that attracts tenants and real estate investors to the Portland housing market is the high-tech industry. Portland houses over 1,200 tech companies. Other key industries include manufacturing and healthcare.

The Portland real estate market leads the Pacific Region in affordability which is an issue in this part of the United States. This is one reason why Portland ranks as the #5 top market to watch for 2019 in this region according to the PWC real estate report. Compared to other markets in the US, Portland ranks #21 for overall real estate prospects. As most other US markets, the Portland real estate market suffers from a housing inventory shortage due to rising costs of construction and tight regulations. However, the PWC ranks the market as #16 for homebuilding prospects so forecasts show that the inventory will increase in the coming years. These are signs that Portland is one of the best places to invest in real estate.

Portland Realtors and Real Estate Agents

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Portland  Real Estate Investment Performance
Facts and Market Trends in Portland
Homes For Sale1,396
Airbnb Properties1,352
Rental Properties720
Traditional Vacancy rate4.50%
Airbnb Occupancy Rate62.61%
Mashmeter69.96%
Median Price$531,772
Median Rent Price$1,939
Price/sqft$292
Median Days on Market79
Price to Rent Ratio22.1
Average Cap Rate
Airbnb1.73%
Traditional0.87%
Average Rental Income
Airbnb$2,807
Traditional$2,007
 
Median Household Income$86,771
Population647,805
Transportation in Portland
65 / 100
Somewhat Walkable
52 / 100
Good Transit
81 / 100
Very Bikeable
Portland  Rent Prices
RENTAL STRATEGY STUDIOS 1 ROOM 2 ROOMS 3 ROOMS 4 ROOMS
Airbnb$1,775$1,892$2,230$2,713$4,321
Traditional$1,132$1,247$1,539$2,106$2,585
Portland, OR - Homes for Sale - Newly Listed
Investment Properties for Sale
$449,500
MLS 19474915
3804 SE WOODSTOCK BLVD
Portland, OR 97202
Woodstock
Single Family Residential
4 beds2 baths2,460 sq.ft.
CAP RATE
Trad. 1.03%Airbnb 2.31%
Investment Properties for Sale
$395,000
MLS 19469845
4434 NE 47TH AVE
Portland, OR 97218
Beaumont-Wilshire
Single Family Residential
2 beds1 baths1,422 sq.ft.
CAP RATE
Trad. 1.20%Airbnb 1.63%
Investment Properties for Sale
$619,900
MLS 19104592
4528 SW IDAHO DR
Portland, OR 97221
Hayhurst
Single Family Residential
4 beds2 baths2,125 sq.ft.
CAP RATE
Trad. 0.57%Airbnb 3.33%
Investment Properties for Sale
$499,000
MLS 19533765
2511 SE 29th AVE #4
Portland, OR 97202
Richmond
Townhouse
3 beds3 baths1,447 sq.ft.
CAP RATE
Trad. 0.64%Airbnb 4.69%
Top Performing Portland Properties
Investment Properties for Sale
$789,900
MLS 19354669
2930 SW WEST POINT AVE
Portland, OR 97225
Sylvan Highlands
Single Family Residential
4 beds4 baths3,111 sq.ft.
CAP RATE
Trad. 1.58%Airbnb 7.86%
Investment Properties for Sale
$775,000
MLS 19512671
785 SW 67TH PL
Portland, OR 97225
Sylvan Highlands
Single Family Residential
4 beds4 baths3,882 sq.ft.
CAP RATE
Trad. 1.41%Airbnb 7.81%
Investment Properties for Sale
$480,000
MLS 19481464
13245 NE SACRAMENTO DR
Portland, OR 97230
Russell
Single Family Residential
4 beds2 baths3,582 sq.ft.
CAP RATE
Trad. 1.51%Airbnb 7.71%
Investment Properties for Sale
$758,000
MLS 19133043
4915 SW BARNES RD
Portland, OR 97221
Sylvan Highlands
Single Family Residential
4 beds4 baths2,506 sq.ft.
CAP RATE
Trad. 1.67%Airbnb 7.62%
Recently Sold Homes in Portland, OR
Investment Properties for Sale
$0
MLS
4815 - 4817 NORTH MICHIGAN AVENUE
Portland, OR 97217
Humboldt
Other
5 beds2 baths2,448 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$2,449,950
MLS 19458641
2720 SE STEELE ST
Portland, OR 97202
Reed
Multi Family
0 beds0 baths5,950 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$1,350,000
MLS 19122853
3179 SE 79TH AVE
Portland, OR 97206
Brentwood-Darlington
Multi Family
0 beds0 baths0 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Investment Properties for Sale
$1,095,000
MLS 19449393
6521 SE 78TH AVE SE
Portland, OR 97206
Mount Scott
Multi Family
0 beds0 baths4,380 sq.ft.
CAP RATE
Trad. N/AAirbnb N/A
Property Value Changes and Real Estate Appreciation in the Portland Housing Market

Portland also leads the nation when it comes to historic real estate appreciation. Since Q1 of 2000, Portland properties have appreciated a total of 158.51% for an average annual rate of 5.05%. Owning a Portland investment property would allow a real estate investor to enjoy significant appreciation as these historic trends continue into 2019 and beyond.

One more reason to invest in Portland real estate is that the market is currently a very cool buyer’s market. In combination with the relative affordability, the high appreciation, the increasing inventory, and the high demand for rental property, a Portland investment property makes for one of the most profitable investments.

Portland, OR Top Multi Family Homes
Investment Properties for Sale
$389,900
MLS 19263674
12607 SW 64TH AVE
Portland, OR 97219
Far Southwest
Multi Family
0 beds0 baths2,300 sq.ft.
CAP RATE
Trad. 2.93%Airbnb N/A
Investment Properties for Sale
$395,000
MLS 19652948
4024 NE GARFIELD AVE
Portland, OR 97212
King
Multi Family
0 beds0 baths2,284 sq.ft.
CAP RATE
Trad. 2.52%Airbnb N/A
Investment Properties for Sale
$279,999
MLS 19457479
8427 SE ALDER ST
Portland, OR 97216
Montavilla
Multi Family
0 beds0 baths800 sq.ft.
CAP RATE
Trad. 2.24%Airbnb N/A
Investment Properties for Sale
$389,900
MLS 19443684
2828 SE 26TH AVE
Portland, OR 97202
Hosford-Abernethy
Multi Family
0 beds0 baths1,003 sq.ft.
CAP RATE
Trad. 2.17%Airbnb N/A
Homes Below Median Price in the Portland, OR Real Estate Market
Investment Properties for Sale
$789,900
MLS 19354669
2930 SW WEST POINT AVE
Portland, OR 97225
Sylvan Highlands
Single Family Residential
4 beds4 baths3,111 sq.ft.
CAP RATE
Trad. 1.58%Airbnb 7.86%
Investment Properties for Sale
$775,000
MLS 19512671
785 SW 67TH PL
Portland, OR 97225
Sylvan Highlands
Single Family Residential
4 beds4 baths3,882 sq.ft.
CAP RATE
Trad. 1.41%Airbnb 7.81%
Investment Properties for Sale
$480,000
MLS 19481464
13245 NE SACRAMENTO DR
Portland, OR 97230
Russell
Single Family Residential
4 beds2 baths3,582 sq.ft.
CAP RATE
Trad. 1.51%Airbnb 7.71%
Investment Properties for Sale
$758,000
MLS 19133043
4915 SW BARNES RD
Portland, OR 97221
Sylvan Highlands
Single Family Residential
4 beds4 baths2,506 sq.ft.
CAP RATE
Trad. 1.67%Airbnb 7.62%
Portland Airbnb Growth and Regulations

Airbnb growth in the Portland real estate market was quickly evident as there were thousands of short-term rental listings across different vacation rental websites. So the city began regulating such rental properties in an attempt to protect residential  neighborhoods in Portland. Since 2014, all Airbnb investment properties that are non-owner occupied have been outlawed. The rental property must be your primary residence and you must live there for 9 months out of the year. If you wish to rent out on Airbnb while you’re away, there is a cap of 95 days. Guest stays are limited to 30 days at a time for up to 2 bedrooms in the rental property.

Besides this, Airbnb Portland hosts must obtain a permit from the local officials which will have to be renewed every 2 years. The initial fee for the permit is $178.08 and $62 upon renewal. The cost differs for multi-family homes which qualify for short-term rental permits. The initial fee is $100 and $62 upon renewal.

Short-term rental taxes are also a part of the Airbnb regulations in Portland (6%) as well as a county tax (5.5%). However, the short-term rental platform is responsible for collecting these taxes and remitting them to the city. 

Finally, while Airbnb hosts in Portland don’t need the permission of the other property owners in the neighborhood, they must send out a Neighborhood Notice as a courtesy.

Portland, OR Top Airbnb Homes
Portland Airbnb
$80 per night
Entire home/apt · 3 beds
Funky Pad Suite - Parkside Portland
1047
Portland Airbnb
$80 per night
Entire home/apt · 1 bed
Peaceful Retreat in Thriving NE
797
Portland Airbnb
$97 per night
Entire home/apt · 2 beds
Ladd's Addition near SE Hawthorne
707
Portland Airbnb
$72 per night
Entire home/apt · 1 bed
Sleek Basement Space, Close-In Hood
642
Portland, OR Homes for Rent
Investment Properties for Sale
$1,750
Investment Properties for Sale
$1,010
Investment Properties for Sale
$2,100
Investment Properties for Sale
$1,100
Portland, OR Open Houses
Investment Properties for Sale
Open 11 AM to 3 PM
$395,000
MLS 19469845
4434 NE 47TH AVE
Portland, OR 97218
Beaumont-Wilshire
Single Family Residential
2 beds1 baths1,422 sq.ft.
CAP RATE
Trad. 1.20%Airbnb 1.63%
Investment Properties for Sale
Open 12 PM to 2 PM
$274,900
MLS 19610605
2021 SW MAIN ST 14
Portland, OR 97205
Goose Hollow
Condo/Coop
1 beds1 baths660 sq.ft.
CAP RATE
Trad. -0.27%Airbnb 1.18%
Investment Properties for Sale
Open 12 PM to 2 PM
$359,999
MLS 19692425
2426 NE 136TH AVE
Portland, OR 97230
Russell
Single Family Residential
3 beds2 baths1,859 sq.ft.
CAP RATE
Trad. 1.28%Airbnb 1.00%
Investment Properties for Sale
Open 2 PM to 4 PM
$400,000
MLS 19057339
7706 SE YAMHILL ST
Portland, OR 97215
Montavilla
Single Family Residential
1 beds2 baths1,920 sq.ft.
CAP RATE
Trad. -0.83%Airbnb 0.13%
Best Portland Neighborhoods for Buying Investment Property
67%
Mashmeter
property price
$699,000
Median
cap rate
3.30%
Traditional
5.54%
Airbnb
rental income
$1,923
Traditional
$3,230
Airbnb
homes for sale
8
occupancy rate
60%
Airbnb
89%
Mashmeter
property price
$269,900
Median
cap rate
9.84%
Traditional
11.87%
Airbnb
rental income
$2,213
Traditional
$2,669
Airbnb
homes for sale
9
occupancy rate
63%
Airbnb
67%
Mashmeter
property price
$232,750
Median
cap rate
11.50%
Traditional
19.27%
Airbnb
rental income
$2,231
Traditional
$3,738
Airbnb
homes for sale
1
occupancy rate
61%
Airbnb
68%
Mashmeter
property price
$474,900
Median
cap rate
4.94%
Traditional
5.88%
Airbnb
rental income
$1,954
Traditional
$2,327
Airbnb
homes for sale
13
occupancy rate
59%
Airbnb
85%
Mashmeter
property price
$465,000
Median
cap rate
7.01%
Traditional
8.29%
Airbnb
rental income
$2,715
Traditional
$3,213
Airbnb
homes for sale
97
occupancy rate
66%
Airbnb