In short
The median value of owner-occupied homes in Portland is $588,200 (Census ACS 2024; owner estimates, not sale prices). The FHFA House Price Index shows Oregon prices up 0.3% and Portland–Vancouver–Hillsboro prices down 0.7% between the second quarters of 2025 and 2026. Oregon has no real estate transfer tax. Selling a main home you owned and lived in for 2 of the last 5 years, the first $250,000 of gain ($500,000 for a married couple filing jointly) is excluded from federal income tax (IRS Publication 523).
Calculate for Portland
In short
The median value of owner-occupied homes in the city of Portland is $588,200, according to the Census Bureau’s 2024 American Community Survey. The FHFA index for the Portland–Vancouver–Hillsboro area fell 0.7% between the second quarters of 2025 and 2026. First-time buyers inside city limits can ask the Portland Housing Bureau for a Down Payment Assistance Loan of up to $80,000 to $100,000.
How much homes cost in Portland
The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on Oregon home prices explains the method in detail.
| Area | Median value, 2024 (ACS) | Margin of error (90%) |
|---|---|---|
| City of Portland | $588,200 | ±$11,523 |
| Multnomah County | $565,100 | ±$10,858 |
| Portland–Vancouver–Hillsboro, OR-WA metro area | $584,800 | ±$5,498 |
| Oregon | $497,500 | ±$3,618 |
| United States | $360,600 | ±$618 |
Source: U.S. Census Bureau, ACS 1-Year Estimates 2024, table B25077. The 2025 estimates are scheduled for October 29, 2026.
Are Portland prices rising?
The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. Its purchase-only, seasonally adjusted index for the Portland–Vancouver–Hillsboro metro area, published August 25, 2026, shows:
| Area | 1-year change (Q2 2025 to Q2 2026) | 5-year change (Q2 2021 to Q2 2026) |
|---|---|---|
| Portland–Vancouver–Hillsboro metro area | −0.7% | +12.9% |
| Oregon | +0.3% | +15.8% |
| United States | +2.1% | +33.4% |
Source: FHFA House Price Index, quarterly purchase-only files. Changes calculated by Payotte from the published index values.
Prices in the Portland area slipped slightly over the past year, after a gain of about an eighth over five years.
Closing costs, property tax and transfer tax
Portland buyers pay the same state-level costs as other Oregon buyers, and the figures depend on the loan and the providers you choose. We do not recalculate them on this page. See our guides to closing costs in Oregon, property tax in Oregon and transfer tax in Oregon. To see how property tax can be paid through your monthly mortgage payment, read our guide to escrow accounts.
Help for Portland buyers
The Portland Housing Bureau (PHB) runs programs that apply only inside Portland city limits:
- Down Payment Assistance Loan (DPAL). A deferred second mortgage of up to $80,000 to $100,000 for first-time buyers with income at or below 100% of Portland’s area median income, at 0.00% interest over 30 years, with partial forgiveness starting at the 15th year. Applicants start with a PHB community partner. Funding is subject to availability.
- Homebuyer Opportunity Limited Tax Exemption (HOLTE). A ten-year property tax exemption on the structure of new single-unit homes, with a sale price cap of $455,000, applied for by the homebuilder before the building permit.
- State programs. Oregon Housing and Community Services (OHCS) runs the FirstHome and NextStep loans, which add 4% or 5% down payment assistance. In Multnomah County, FirstHome caps the purchase price at $733,987 outside targeted areas.
Terms, income limits and how to apply are on our page about first-time buyer programs in Oregon.
Buying a home with tenants
Portland has its own renter protections on top of state law. A landlord in the city who ends a tenancy without cause, or raises rent by 10% or more in 12 months, may owe the tenant relocation assistance of $2,900 to $4,500, according to PHB. If you are buying a rental property, read tenant rules in Oregon.
Oregon guides for Portland buyers
Frequently asked questions
What is the median home price in Portland?
The Census Bureau’s 2024 American Community Survey puts the median value of owner-occupied homes in the city of Portland at $588,200 (±$11,523). This is what owners think their home is worth, not the median sale price of recent sales.
Are home prices in Portland going down?
According to the FHFA purchase-only index, prices in the Portland–Vancouver–Hillsboro area fell 0.7% between the second quarter of 2025 and the second quarter of 2026. Over five years, they rose 12.9%.
Is Portland more expensive than the rest of Oregon?
Yes. The city’s median value is $90,700 above the Oregon median of $497,500. It is close to the metro area median of $584,800; the difference of $3,400 is smaller than the margin of error.
Does Portland help first-time buyers?
Yes. The Portland Housing Bureau offers the Down Payment Assistance Loan, up to $80,000 to $100,000, for first-time buyers purchasing inside city limits and meeting income rules. State loans from OHCS can be used in Portland too.
Who do I contact about renter relocation payments in Portland?
The PHB Rental Services Office, which publishes the rules, amounts and exemptions for Portland City Code 30.01.085.
More Oregon guides
- Closing costs in Oregon: what buyers and sellers pay
- Real estate transfer tax in Oregon: none, with one old exception
- Oregon property tax: Measure 50, rates and who gets relief
- Seller disclosure in Oregon: what sellers must tell buyers
- Do you need a real estate attorney to close in Oregon?
- Foreclosure process in Oregon: steps, timeline and help
- Home prices in Oregon and Portland: median value and trend
- First-time home buyer programs in Oregon and Portland
- How to verify a real estate license in Oregon
- Natural hazards and home insurance in Oregon
- Buying a rental property in Oregon: tenant rules
Sources
- Table B25077, Median Value (Dollars), ACS 1-Year Estimates 2024 (U.S. Census Bureau) (consulted October 13, 2026)
- 2025 ACS Data Release Schedule (U.S. Census Bureau) (consulted October 13, 2026)
- U.S. House Prices Rise 2.1 Percent Year over Year, Up 0.3 Percent Quarter over Quarter (FHFA, August 25, 2026) (consulted October 13, 2026)
- FHFA House Price Index datasets, quarterly purchase-only indexes (state, metro) (consulted October 13, 2026)
- Down Payment Assistance Loan Program (Portland Housing Bureau) (consulted October 13, 2026)
- Homebuyer Opportunity Limited Tax Exemption (HOLTE) Program (Portland Housing Bureau) (consulted October 13, 2026)
- Buying a Home (Portland Housing Bureau) (consulted October 13, 2026)
- Mandatory Renter Relocation Assistance (Portland Housing Bureau, Rental Services Office) (consulted October 13, 2026)