Multnomah County, Oregon Housing Market
In Multnomah County, Oregon, the median home value is $552,700, with a median monthly rent of $1,646. This places Multnomah County at #100 nationally out of 3134 counties by median home value, and #5 within Oregon.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,557
- Establishments: 37,763
- BLS QCEW, 2025
Housing Supply
- Single-family: 992
- Multi-family: 602
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 354,654 (avg $99,291)
- Outflow: 349,141 (avg $102,434)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Multnomah County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 97205 | 238.3 | -14.92% | 2025 |
| 2 | 97227 | 408.9 | +4.00% | 2025 |
| 3 | 97210 | 252.8 | -3.74% | 2025 |
| 4 | 97201 | 240.5 | +1.14% | 2025 |
| 5 | 97133 | 273.6 | +0.49% | 2025 |
| 6 | 97024 | 259.5 | -3.16% | 2025 |
| 7 | 97218 | 365.0 | +2.28% | 2025 |
| 8 | 97266 | 300.9 | -3.44% | 2025 |
| 9 | 97239 | 260.1 | +2.52% | 2025 |
| 10 | 97214 | 337.3 | -1.19% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Multnomah County Compares
| Metric | Multnomah County | Oregon Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $552,700 | $386,691 | $227,706 |
| Median Gross Rent | $1,646 | $1,190 | $968 |
| Owner Occupancy Rate | 53.4% | 68.4% | 73.3% |
| Price/Rent Ratio | 28.0 | 26.8 | 18.7 |
Market Analysis
The median home value in Multnomah County is 42.9% above the Oregon state average and 142.7% above the U.S. national average. The median rent of $1,646/month is 38.3% above the state average.
With a price-to-rent ratio of 28.0, Multnomah County is a strongly rent-favored market. Home prices are high relative to rents, meaning renting is typically far cheaper than owning in the near term.
Multnomah County has an owner-occupancy rate of 53.4%, compared to 68.4% in Oregon and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Somerset County | New Jersey | $552,100 | $2,033 |
| Forsyth County | Georgia | $550,400 | $2,090 |
| Kitsap County | Washington | $555,100 | $1,822 |
| Clarke County | Virginia | $550,100 | $1,371 |
| Plymouth County | Massachusetts | $556,000 | $1,747 |
Other Counties in Oregon
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Washington County | $588,000 | $1,849 | 60.8% |
| Benton County | $513,000 | $1,410 | 56.9% |
| Clackamas County | $611,000 | $1,758 | 70.7% |
| Yamhill County | $471,700 | $1,480 | 69.4% |
| Clatsop County | $468,300 | $1,180 | 63.2% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).