Market Snapshot
- Median listing price
- $800K
- Median rent
- $1,929/mo
- Days on market
- 117 days
- Gross rental yield
- 2.89%
- STR vs LTR
- $1,925/mo STR · $1,929/mo LTR
The median listing price in Portland, OR ZIP 97229 is $799,999 as of June 2026.
The median market rent in Portland, OR ZIP 97229 is $1,929/month as of June 2026.
The median days on market in Portland, OR ZIP 97229 is 117 days as of June 2026. The market is currently neutral.
At a median list price of $799,999 and a median rent of $1,929/month, the gross rental yield in Portland, OR ZIP 97229 is 2.89% as of June 2026.
In Portland, OR ZIP 97229, median Airbnb revenue is $1,925/month compared to median long-term rent of $1,929/month as of June 2026.
Portland, OR 97229 Real Estate Market Report
ZIP Code: 97229
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.
Current Mortgage Rate Context
Market-level mortgage rate comparison for this area:
Current 30-year fixed mortgage rates for properties in Portland OR 97229 are 6.53%, reflecting a stable market environment compared to the 2026 year-to-date average range of 5.98% to 6.46%.
Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.
Key Findings
- The primary market signal is the median sold price at 850,000, which represents the neighborhood's most reliable transaction-based value and suggests recent sales are anchoring prices near this level; given the market temperature is neutral, this sold-price level appears to reflect a balanced to slightly seller-favored environment.
- Comparing asking and transaction signals shows a notable spread: the median listing price is 799,999 versus the median sold price of 850,000, which may indicate seller price optimism or negotiation dynamics where final sale prices exceed typical asking levels.
- Market velocity is slower than a hot market: the median days on market of 117 points to extended marketing windows and suggests moderate sales liquidity rather than rapid turnover, which may create pricing friction for sellers who need to move quickly.
- Affordability and carrying-cost context: the median price per square foot is 301 and median market rent is 1,929, while interest rate pressure is moderate with local 30-year fixed mortgage rates at 6.53%, and rent year-over-year trend is down, together implying cooler rent growth and a cautious financing environment that may temper investor demand.
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.
Quick sale indicating strong buyer demand and competitive market conditions.
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, 6.53% rate, 1.1% 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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