Oregon

Home prices in Oregon and Portland: median value and trend

Median owner-occupied home value: $497,500 in Oregon and $588,200 in Portland (Census ACS 2024). FHFA: Oregon prices up 0.3% in a year.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes is $497,500 in Oregon and $588,200 in the city of Portland, against $360,600 nationwide (Census ACS 2024). On the FHFA index, Oregon prices up 0.3% and Portland–Vancouver–Hillsboro prices down 0.7% from Q2 2025 to Q2 2026.

What it costs: median value in 2024

AreaMedian value, 2024Margin of error (90%)
United States$360,600±$618
Oregon$497,500±$3,618
Portland–Vancouver–Hillsboro, OR-WA metro area$584,800±$5,498
Multnomah County$565,100±$10,858
City of Portland$588,200±$11,523

Source: Census ACS 2024, table B25077; owners’ own estimates, not sale prices.

Three points stand out:

  • The Oregon median is $136,900 above the national median.
  • The city of Portland sits $90,700 above the Oregon median. It is only $3,400 above the metro median, a gap smaller than the margin of error of either estimate, so the two figures should be read as about the same. The metro area includes Vancouver, Washington, and suburbs in several counties.
  • The city figure carries a margin of error of ±$11,523, so Portland’s true median is very likely between about $576,700 and $599,700.

How prices have moved: the FHFA index

FHFA’s release notes that the Pacific census division, which includes Oregon, recorded the slowest appreciation in the country, slightly above 0.0 percent.

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
United States+2.1%+33.4%
Oregon+0.3%+15.8%
Portland–Vancouver–Hillsboro metro area−0.7%+12.9%

Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.

Oregon home prices were almost flat over the past year, while the national index rose 2.1%. Over five years, Oregon gained about 16% and the Portland area about 13%, well below the nation’s 33.4%.

A worked example

Take a Portland-area home worth $340,000 in the second quarter of 2021. Tracking the Portland–Vancouver–Hillsboro index exactly, it would have been worth about $383,800 in the second quarter of 2026 (+12.9%). Over the last year alone, it would have lost about $2,400 (−0.7%). A single home can differ widely from the index.

How to use these figures when buying

Related: Oregon closing costs guide, buying a home in Portland and Oregon first-time buyer programs.

Method and dataset

ACS median value. ACS 1-Year 2024, table B25077. Geographies: United States (0100000US), Oregon (0400000US41), Portland–Vancouver–Hillsboro, OR-WA metro area (310M700US38900), Multnomah County (0500000US41051), Portland city (1600000US4159000). Read through the data.census.gov API on October 13, 2026. The definition of value comes from the ACS 2024 Subject Definitions.

FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Oregon), metro series (Portland-Vancouver-Hillsboro, OR-WA, code 38900; the metro area is not split into divisions) and U.S. series. Index values used: Oregon 627.35 (Q2 2025), 543.15 (Q2 2021) and 629.17 (Q2 2026); Portland–Vancouver–Hillsboro 637.32, 560.63 and 632.78; United States 426.58, 326.58 and 435.69.

Frequently asked questions

What is the median home value in Oregon?

Oregon’s 2024 ACS median home value is $497,500 (±$3,618), against $360,600 for the nation: owners’ own estimates, not sale prices.

What is the median home value in Portland?

For the city of Portland, the 2024 ACS median value is $588,200 (±$11,523). Multnomah County is at $565,100 and the Portland–Vancouver–Hillsboro metro area at $584,800.

Are Oregon home prices going up or down?

FHFA’s purchase-only index shows Oregon prices rose 0.3% over the year to Q2 2026, and the Portland–Vancouver–Hillsboro area fell 0.7%. Over five years, they rose 15.8% and 12.9%.

How Oregon compares with the other States

At $497,500, Oregon ranks 7th of the 50 States for median home value, in the top ten and 38% above the national $360,600.

The States closest in median value are New Jersey ($496,000) and New Hampshire ($458,800). The range runs from $170,800 in West Virginia to $875,900 in Hawaii; Oregon is $158,000 above the middle of that ranking (Wyoming).

On the FHFA index, Oregon prices rose 0.3% over the year to the second quarter of 2026, which places the State 46th of 50, 1.8 points behind the national +2.1%. Over five years the gain is +15.8% (50th of 50; nation +33.4%).

The two measures diverge: Oregon is among the dearest States, yet its prices rose less than most over the past year.

Over five years, Oregon's +15.8% annualises to +3% a year (nation +5.9%). The latest year (+0.3%) is 2.7 points under that average, a slower pace than the five-year average.

Portland, the main city, has a median of $588,200, 10th of the 49 main cities Payotte covers. That is 18% above the Oregon median, a premium that ranks 17th of 49.

The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Oregon (+0.3%) is 8 points below the top and 1.5 above the bottom; North Carolina (+0.4%) and Texas (+0.5%) are the nearest to it.

For scale, 20% of the Oregon median is $99,500, against $72,120 at the national median.

Compare with the other states: Median home price by state.

More Oregon guides

Sources

Oregon · All states · Federal guides