ZIP 97204 Housing Market Report
Portland Metro
Report period: May 2026
97204 Monthly Market Update – May 2026
ZIP 97204 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$599,000
−7.8%
Median DOM (Sales)
49
+28.9%
New Listings (Sales)
0
0
Median Rent
$1,595
−6.1%
Median DOM (Rental)
1
0.0%
Total Rental Listings
22
−4.3%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Land (49 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 3 Beds ($599,000 median)
Sales Market Overview
Median Price
$599,000
−7.8%
Median DOM
49
+28.9%
New Listings
0
0
Inventory
2
−33.3%
- Average Price: $2,174,500
- Median Price: $599,000
- Price Range: $599,000 – $3,750,000
- Price per Sq Ft (Avg/Median): $289 / $289
- Square Footage (Avg/Median): 2,074 / 2,074
- Square Footage Range: 2,074 – 2,074
- Days on Market (Avg/Median): 59 / 49
- Days on Market Range: 49 – 68
- New Listings: 0
- Total Listings: 2
Sales by Property Type
Condo
Avg/Median Price$599,000 / $599,000Range$599,000 – $599,000Price per Sq Ft$289 / $289Sq Ft2,074 / 2,074DOM68 / 68New0Total1
Land
Avg/Median Price$3,750,000 / $3,750,000Range$3,750,000 – $3,750,000Price per Sq Ft—Sq Ft—DOM49 / 49New0Total1
Sales by Bedroom Count
3 Beds
Avg:$599,000Median:$599,000Range:$599,000 – $599,000PSF:$289 / $289Sq Ft:2,074 / 2,074DOM:68 / 68New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 3 Beds | $599,000 | $599,000 | $599,000 – $599,000 | $289 / $289 | 2,074 / 2,074 | 68 / 68 | 0 | 1 |
Rental Market Overview
Median Rent
$1,595
−6.1%
Median DOM
1
0.0%
New Listings
16
Inventory
22
−4.3%
- Average Rent: $1,621
- Median Rent: $1,595
- Rent Range: $1,225 – $2,085
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 501 / 459
- Square Footage Range: 430 – 594
- Days on Market (Avg/Median): 1 / 1
- Days on Market Range: 1 – 1
- New Listings: 16
- Total Listings: 22
Rentals by Property Type
Apartment
$1,595
Median DOM: 1
Inventory: 22
MoM: −6.1%
Condo
—
Median DOM: —
Inventory: —
MoM: −6.1%
Single Family
—
Median DOM: —
Inventory: —
MoM: −6.1%
Townhouse
—
Median DOM: —
Inventory: —
MoM: −6.1%
Apartment
Avg/Median Rent$1,621 / $1,595Range$1,225 – $2,085Rent per Sq Ft$3 / $3Sq Ft501 / 459DOM1 / 1New16Total22
Rentals by Bedroom Count
Studio
Avg:$1,480Median:$1,495Range:$1,225 – $1,885PSF:$3 / $3Sq Ft:444 / 437DOM:1 / 1New:7Total:11
1 Beds
Avg:$1,762Median:$1,699Range:$1,525 – $2,085PSF:$3 / $3Sq Ft:559 / 564DOM:1 / 1New:9Total:11
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,480 | $1,495 | $1,225 – $1,885 | $3 / $3 | 444 / 437 | 1 / 1 | 7 | 11 |
| 1 Beds | $1,762 | $1,699 | $1,525 – $2,085 | $3 / $3 | 559 / 564 | 1 / 1 | 9 | 11 |
6-Month Sales Trend
Dec 2025
Median Price:$650,000Median DOM:62New:0Total:1
Jan 2026
Median Price:$650,000Median DOM:62New:0Total:1
Feb 2026
Median Price:$650,000Median DOM:62New:0Total:1
Mar 2026
Median Price:$650,000Median DOM:8New:3Total:3
Apr 2026
Median Price:$650,000Median DOM:38New:0Total:3
May 2026
Median Price:$599,000Median DOM:49New:0Total:2
6-Month Rental Trend
Dec 2025
Median Rent:$1,595Median DOM:1New:1Total:3
Jan 2026
Median Rent:$1,693Median DOM:1New:10Total:12
Feb 2026
Median Rent:$1,693Median DOM:1New:17Total:19
Mar 2026
Median Rent:$1,693Median DOM:1New:15Total:22
Apr 2026
Median Rent:$1,699Median DOM:1New:20Total:23
May 2026
Median Rent:$1,595Median DOM:1New:16Total:22
Key Market Takeaways
Median sale prices softened this month while inventory compressed. Days on market lengthened, signaling slower buyer activity. Rental pricing eased, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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