The story of this market
The typical home in ZIP 97227 sells for about $549,950, or $345 per square foot.
Prices are down 2.1% from a year ago, which gives buyers more room to negotiate. Homes take about 30 days to sell. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 97227 — Portland
The 97227 housing market is currently balanced, characterized by low inventory and stable pricing. Demand remains consistent due to the area's central location and urban amenities, though high interest rates have tempered the rapid appreciation seen in previous years.
This ZIP is ideal for young professionals and urban-focused renters who value walkability, transit access, and proximity to Portland's central employment and entertainment hubs.
Median prices moved down 2.1% year over year.
Homes spend a median of 30 days on market with 2.5 months of supply — a fast-moving market.
13% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.8% · poverty 11.2% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 4.0%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.7%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 97227, Multnomah County OR
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
The area experiences property crime rates typical of urban Portland, with higher concentrations near major transit corridors and commercial zones.
Schools serving the area are part of Portland Public Schools, with performance varying significantly by specific campus and program offerings.
The ZIP is located in a low-to-moderate flood risk zone near the Willamette River, with standard insurance requirements for the region.
Economic momentum is driven by proximity to the Central Eastside industrial and creative district, with ongoing infill development and adaptive reuse projects.
Property taxes are assessed by Multnomah County based on real market value, subject to Oregon's constitutional limits on assessed value growth.
Excellent access to downtown Portland via the MAX light rail and major arterial bridges, making it a highly accessible location for commuters.
Features proximity to the Willamette River waterfront, numerous local parks, and the vibrant dining and shopping districts of the inner eastside.
The rental market is highly competitive with a mix of historic apartments and new luxury developments, maintaining steady demand due to central location.
The economy is anchored by the Central Eastside's mix of light industrial, creative services, and retail businesses.
Highly served by TriMet bus lines and MAX light rail, providing seamless connectivity to the broader Portland metro area.
Development is focused on high-density residential projects and transit-oriented infrastructure improvements.
Multnomah County Assessment and Taxation manages property valuations with a focus on maintaining compliance with state-mandated assessment caps.
Parcels are subject to Portland Public Schools, Portland Community College, and various regional service districts.
Property insurance premiums are stable but reflect regional risks associated with urban fire and seismic activity.
Oregon continues to see moderate net domestic migration, though the pace has slowed compared to the 2020-2022 period.
Oregon is primarily a non-judicial foreclosure state, requiring specific notice periods and providing limited redemption rights.
Sellers are required to provide a comprehensive property disclosure statement covering material defects at the time of sale.
Data retrieved from data.census.gov ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Hopscotch Portland4.82.3 mi
- Oaks Amusement Park4.45.1 mi
- Langer's Entertainment Center4.414.8 mi
- Bullwinkle's4.416.9 mi
- Sky Zone Trampoline Park3.87.6 mi
- Moda Center4.51.1 mi
- Providence Park4.61.9 mi
- Oregon Convention Center4.51.4 mi
- Revolution Hall4.62.2 mi
- Portland Art Museum4.62.1 mi
- Powell's City of Books4.91.6 mi
- Oregon Zoo4.53.1 mi
- Portland Japanese Garden4.62.4 mi
- The Grotto4.75 mi
- Providence Park4.61.9 mi
- Portland Japanese Garden4.62.4 mi
- OMSI4.52.7 mi
- The Grotto4.75 mi
- Hopscotch Portland4.82.3 mi
- Portland Art Museum4.62.1 mi
- Portland Japanese Garden4.62.4 mi
- The Grotto4.75 mi
- International Rose Test Garden4.82.3 mi
- Laurelhurst Park4.73 mi
- Mt. Tabor Park4.84.6 mi
- Portland Yacht Club4.74 mi
- Riverplace Marina4.62.5 mi
- Fred's Marina4.48 mi
- Tomahawk Bay Marina4.34.2 mi
- Rocky Pointe Marina4.114 mi
- Topgolf Hillsboro4.512 mi
- RedTail Golf Center47.7 mi
- Heron Lakes Golf Course4.14.3 mi
- Glendoveer Golf & Tennis4.47.7 mi
- Eastmoreland Golf Course4.35.2 mi
- Washington Square4.48.3 mi
- Clackamas Town Center4.39.1 mi
- Vancouver Mall4.28.9 mi
- Uwajimaya Beaverton4.76.7 mi
- Bridgeport Village4.411 mi
- Portland International Airport4.54.9 mi
- Providence Saint Vincent Hospital Heliport4.65.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Provides extensive trail access and river views.
A major local hub for independent retail and restaurants.
Key-figure check: median price corroborated by the prior refresh cycle (within 12.5%).