Do you ever feel like Portland is always looped in with Seattle, but as a slightly behind, quaint, lesser, suburb, wannabe? When it comes to the rising house prices, that's turning out to not be a bad thing! Let's take a little walk through some of the statistics! Seattle home prices have increased nearly 9% since January 1st, 2017, leading all cities. Portland is at a not shabby at all 7%. To put this in context, 3% per year is the average rise in home prices year to year since the 1970s.
Our population is growing, but the growth in GDP is not as great as the other hot market cities. This is a little worrisome, but unemployment is so so low, 3.7% in Portland, 4.2% in Oregon, that salaries will hopefully start going up soon.
The median home price in Portland is $404,500, and in Seattle it's $708,600.
You guys. 57%. The median house in Portland is 43% lower! So we don't have professional baseball or football. We have a smaller opera, ballet, etc. Less big boats. I'm ok with this!
Let me know if you want to get a foothold in our amazing little city!