If you are thinking about making a move in the Rose City this year, you probably have one big question on your mind: What is it actually going to cost?
In early 2026, the median cost of a home in Portland sits between $500,000 and $517,000. That number is your baseline anchor. However, real estate here is incredibly local—blocks matter, and the type of home you choose shifts that price tag dramatically.
Whether you are relocating to the Pacific Northwest for the green vibes or you are a local looking to upgrade from a rental, understanding these numbers helps you build a budget that actually works.
Snapshot: The Average Cost of a Home in Portland, OR (2026)
Let’s rip the band-aid off and look at the numbers as of February 2026. While you might see average listing prices floating around $612,000, the sales data tells a more grounded story. Most homes are selling closer to that $500,000–$517,000 median range.
The market right now feels remarkably balanced compared to the chaos of a few years ago. We are seeing a stabilizing trend where prices are essentially flat or seeing very modest growth (think 0% to 3% year-over-year). It’s not a runaway train anymore, which is great news for buyers who need time to think.
If you are calculating size, the typical price per square foot is hovering between $315 and $330. Homes are taking a bit longer to sell, too—averaging about 32 to 42 days on the market. That slower pace means you generally have a weekend or two to decide, rather than having to write an offer from the driveway immediately after a viewing.
Median vs. Average Home Prices: What’s the Difference?
You will often hear agents like me harp on the "median" price rather than the "average," and there is a good reason for that. The "average" price is calculated by adding up all the sales and dividing by the number of homes sold. The problem is that a handful of multi-million dollar sales in the West Hills can skew that number artificially high, making the city look more expensive than it really is for the typical buyer.
The "median" is simply the middle price point—half of the homes sold for more, and half sold for less. It is a much more accurate reflection of what a standard 3-bedroom home costs in a typical neighborhood. For the sake of your budget, we will focus mostly on median numbers here.
Portland Home Costs by Property Type
Your money goes a lot further depending on the structure you buy. A detached house with a yard commands a premium, while condos are currently offering some of the best value we have seen in years due to shifting demand.
Single-Family Homes This is what most people picture when they move here—a craftsman bungalow or a Victorian. Naturally, these are the most expensive options. You should expect median prices in the $500,000 to $525,000 range. While they cost more upfront, they tend to hold their value incredibly well. Just remember that you are also the one responsible for the roof and the landscaping.
Townhouses Townhomes are a fantastic middle ground if you want density without an elevator. They are very popular in neighborhoods where space is tight. Median prices here usually land between $450,000 and $490,000. You get your own front door and often a small patch of outdoor space, which feels like a nice compromise between a house and a condo.
Condos If you are looking for a bargain, the condo market is softer than it has been in a long time. Medians here are significantly lower, ranging from $330,000 to $405,000. In fact, recent data shows many condos selling at a discount (sometimes around 8% below list price). However, the trade-off is the monthly HOA fee, which we will dig into later.
Price Ranges by Portland Neighborhood
Portland is a city of distinct "quadrants" (there are actually more than four, but that’s a local quirk you’ll learn), and prices swing wildly depending on which side of the river you are on.
Premium / Luxury ($800k+) If your budget allows, areas like the Southwest Hills, Irvington, and Alameda offer stunning historic homes, often with views or oversized lots. The nearby suburb of Lake Oswego also fits this tier. These areas are established, leafy, and command top dollar.
Mid-Range / Popular ($500k–$650k) This is the heart of the Portland market. Neighborhoods like Boise, Overlook, King, and Sellwood-Moreland offer that classic walkable lifestyle with coffee shops and parks just corners away. You get the community feel without the luxury markup.
Entry-Level / Affordable ($300k–$450k) Yes, you can still buy here for under half a million. Look toward Foster-Powell, the Gateway area, or even the Pearl District if you are open to condos. These spots are great for first-time buyers looking to get a foothold in the market.
Suburban Value Don't forget the suburbs if you need more square footage. Areas like Gresham or Beaverton offer a different value proposition—often giving you a newer build or a larger yard in exchange for a longer commute into the city core.
Beyond the Listing Price: Hidden Costs of Ownership
The list price is just the entry fee. To really understand affordability, you have to look at the monthly output. There are a few local quirks to be aware of.
Property Taxes Oregon’s property tax system is unique due to Measure 5 and Measure 50. Instead of being based purely on current market value, taxes are based on an "assessed value" that is often lower. Generally, you can estimate your effective tax rate to be around 1.1% to 1.3% of the assessed value. It’s confusing, so checking the specific tax history of a home is smarter than guessing based on the sale price.
HOA Fees This is the big one for condo buyers. While that $350,000 condo looks cheap, the Homeowners Association (HOA) fees can average $300 to $400 a month—and in luxury buildings with concierges or elevators, they can easily exceed $1,000. Single-family HOAs are rarer and usually much cheaper, typically $200–$300 annually if they exist at all.
Mortgage Rates As of early 2026, we are seeing rates in the low 6% range. While that is an improvement over the highs of 2024, a 1% shift still dramatically impacts your buying power. It is worth chatting with a lender early to lock in a rate.
Closing Costs Don't empty your savings on the down payment; you will need cash to close. In Oregon, a safe budget for closing costs is 2% to 5% of the purchase price, with the average hovering around 4%. This covers title insurance, recording fees, and prepaid taxes.
Market Forecast: What to Expect in 2026
If you are trying to time your purchase, the current market temperature is "cool and steady." We aren't seeing the skyrocketing prices of the pandemic era. Instead, things are stabilizing.
Inventory is up compared to last year, which gives you leverage. We are seeing fewer bidding wars, meaning you probably won't have to waive your inspection just to get an offer accepted. In fact, you might even have room to negotiate repairs or ask for credits toward your closing costs.
Recent data suggests that nearly two-thirds of buyers recently secured a home for under the list price. That is a huge shift in power back to the buyer. Just remember seasonality—prices typically peak in late spring and summer, so shopping in the dreary winter months often nets you the best deal.
What Does Your Budget Buy in Portland?
It helps to visualize what these numbers actually get you. Here is a realistic look at three different price points in the current market.
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$350,000: This budget gets you a solid entry point. You are likely looking at a 1-2 bedroom condo in the Pearl District or a small fixer-upper house in outer East Portland. It’s a great way to stop renting and start building equity.
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$550,000: This is the sweet spot for many buyers. You can find a move-in ready 3-bedroom craftsman in a neighborhood like Woodstock, or a spacious, modern townhouse closer to the city center.
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$800,000+: At this level, you have options. Expect a larger, renovated home in a prime eastside spot like Laurelhurst, or a luxury condo with river views and high-end amenities.
Frequently Asked Questions
Is it expensive to buy a house in Portland, Oregon?
Compared to other major West Coast cities like Seattle or San Francisco, Portland is relatively affordable. However, with a median price over $500,000, it remains higher than the national average, though recent market stabilization has made it more accessible than in previous peak years.
What is the average HOA fee in Portland?
For condos, you should budget between $300 and $400 per month on average. Be cautious with older buildings or luxury towers, where fees can spike significantly higher to cover insurance and deferred maintenance.
Are home prices dropping in Portland in 2026?
Prices are not necessarily dropping across the board; they are mostly flattening or stabilizing. While some segments like condos are seeing price softening, single-family homes are holding steady with very modest growth.
How much should I budget for closing costs in
