The story of this market
The typical home in ZIP 97232 sells for about $658,234, or $324 per square foot.
Prices are up +3.1% from a year ago, so sellers still have some momentum. Homes take about 58 days to sell. HUD's fair market rent for a two-bedroom is $1,646 a month.
ZIP 97232 — Portland
The 97232 housing market is experiencing significant downward pressure on prices, with a 23.4% year-over-year decline in median sale price. High inventory relative to sales velocity and elevated vacancy rates suggest a cooling market environment for sellers. Buyers are finding more leverage as days on market have increased significantly compared to the previous year.
This ZIP is ideal for young professionals and urban-dwelling commuters who prioritize proximity to downtown Portland, transit access, and a high-density lifestyle over traditional suburban family housing.
Median prices moved up 3.1% year over year.
Homes spend a median of 58 days on market with 0.0 months of supply — a balanced-paced market.
0% of listings have cut prices · homes sell at 0% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 5.9% · poverty 11.1% — a stable, low-distress profile.
versus the prior ACS vintage
in-migration and out-migration balanced
ZCTA 97232, 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 is served by Portland Public Schools, with local schools generally reflecting the urban character of the district.
The area faces standard urban climate risks, with property insurance markets in Oregon influenced by regional wildfire and seismic exposure.
The area features a mix of historic residential neighborhoods and urban infill, with proximity to the Lloyd District and central Portland employment hubs.
Property taxes are assessed by Multnomah County based on real market value, with an effective rate of approximately 1.0% for residential parcels in this ZIP.
Residents benefit from high walkability and extensive public transit access via MAX Light Rail and bus lines connecting directly to downtown Portland.
The ZIP includes access to major urban green spaces like Holladay Park and proximity to the Willamette River waterfront and the Lloyd Center shopping district.
The rental market is characterized by a high renter share of approximately 73%, with significant demand for multi-family units near the urban core.
The local economy is anchored by the Lloyd District's commercial offices, healthcare facilities, and proximity to Portland's central business district.
The area is a primary transit node for the Portland metropolitan region, served by multiple MAX Light Rail lines and major arterial roadways.
Development activity is focused on urban infill and the long-term revitalization of the Lloyd Center area.
Multnomah County Assessment and Taxation manages property valuations based on state-mandated assessment cycles.
Parcels are subject to Portland Public Schools and various regional service districts including Metro and TriMet.
Property insurance premiums are influenced by regional wildfire risk and the urban density of the Portland metro area.
Data sourced from Census Bureau and ZCTA-level ACS profiles.
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 Portland4.81.1 mi
- Oaks Amusement Park4.44 mi
- Langer's Entertainment Center4.414.7 mi
- Bullwinkle's4.416.3 mi
- Sky Zone Trampoline Park3.88.1 mi
- Moda Center4.51 mi
- Providence Park4.62.3 mi
- Oregon Convention Center4.50.8 mi
- Revolution Hall4.60.8 mi
- Portland Art Museum4.62 mi
- Powell's City of Books4.91.8 mi
- Oregon Zoo4.53.6 mi
- Portland Japanese Garden4.63.1 mi
- The Grotto4.73.9 mi
- Providence Park4.62.3 mi
- Portland Japanese Garden4.63.1 mi
- OMSI4.51.7 mi
- The Grotto4.73.9 mi
- Hopscotch Portland4.81.1 mi
- Vista House at Crown Point4.819.5 mi
- Portland Japanese Garden4.63.1 mi
- The Grotto4.73.9 mi
- International Rose Test Garden4.82.9 mi
- Laurelhurst Park4.71.1 mi
- Mt. Tabor Park4.82.8 mi
- Portland Yacht Club4.74.9 mi
- Riverplace Marina4.61.9 mi
- Fred's Marina4.49.8 mi
- Tomahawk Bay Marina4.35.3 mi
- Rocky Pointe Marina4.115.8 mi
- RedTail Golf Center48 mi
- Heron Lakes Golf Course4.15.9 mi
- Glendoveer Golf & Tennis4.46.2 mi
- Eastmoreland Golf Course4.33.8 mi
- Rose City Golf Course4.12.8 mi
- Washington Square4.48.5 mi
- Clackamas Town Center4.37.4 mi
- Vancouver Mall4.29.3 mi
- Uwajimaya Beaverton4.77.4 mi
- Bridgeport Village4.410.6 mi
- Portland International Airport4.54.7 mi
- Providence Saint Vincent Hospital Heliport4.66.3 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A central urban park serving the Lloyd District.
A major retail and entertainment hub undergoing redevelopment.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.