Market Snapshot
- Median listing price
- $635K
- Median rent
- $1,594/mo
- Days on market
- 184 days
- Gross rental yield
- 3.01%
- STR vs LTR
- $2,060/mo STR · $1,594/mo LTR
The median listing price in Portland, OR ZIP 97223 is $635,000 as of June 2026.
The median market rent in Portland, OR ZIP 97223 is $1,594/month as of June 2026.
The median days on market in Portland, OR ZIP 97223 is 184 days as of June 2026. The market is currently neutral.
At a median list price of $635,000 and a median rent of $1,594/month, the gross rental yield in Portland, OR ZIP 97223 is 3.01% as of June 2026.
In Portland, OR ZIP 97223, median Airbnb revenue is $2,060/month compared to median long-term rent of $1,594/month as of June 2026.
Portland, OR 97223 Real Estate Market Report
ZIP Code: 97223
Report Date: June 2026
Scope: This ZIP code analysis focuses on single-family residential (SFR) properties. Metrics are calculated from recent sales and active listings within the past 90 days.
Market Overview
This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Market Metrics
The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.
Rental Market
Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.
Property Taxes
Liquidity & Velocity
Market Trends & Context
Understanding Market Temperature
A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.
Key Findings
- The primary indicator of market value is the median sold price: 580,000, which represents the most reliable signal of recent transaction activity in the ZIP code.
- There is a meaningful spread between the median listing price (635,000) and the median sold price (580,000); this gap may indicate pricing friction where seller expectations are above recent transaction levels and could lengthen negotiations or require concessions.
- Market liquidity shows slower sales velocity: the median days on market is 184, and coupled with a relatively constrained active supply in the analyzed sample, this suggests moderate transaction volume rather than rapid turnover.
- Macro and rental signals temper upside: the price year-over-year trend is flat and the market temperature is neutral, while rent year-over-year trend is down and interest rate pressure is elevated; together these factors suggest limited near-term price appreciation and greater sensitivity to financing costs.
Notable Properties
The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.
Recent Transactions
Highest sale in the past 90 days. Fully renovated with modern finishes and premium lot positioning.
Sold above market average
Sold above market average
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Representative market sale establishing baseline for properties in the core neighborhood.
Sold below market average
Sold below market average
Investment Analysis
Compare rental income potential against ownership costs and benchmark against market averages.
Monthly rental income vs estimated ownership cost
20% down, 6.50% rate, 0.9% tax
Avg nightly rate and occupancy for this ZIP
Data Sources
Real estate market data & public records, and GemHaus® proprietary models.
Report generated: 6/1/2026
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