ZIP 97223 Housing Market Report
Portland Metro
Report period: May 2026
97223 Monthly Market Update – May 2026
ZIP 97223 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$579,000
+0.7%
Median DOM (Sales)
24
−4.0%
New Listings (Sales)
25
−59.7%
Median Rent
$1,550
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
246
−1.6%
Month-over-Month Movement
Median sale prices moved higher. Days on market improved. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (17 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($849,900 median)
Sales Market Overview
Median Price
$579,000
+0.7%
Median DOM
24
−4.0%
New Listings
25
−59.7%
Inventory
206
+10.2%
- Average Price: $631,662
- Median Price: $579,000
- Price Range: $20,000 – $2,800,000
- Price per Sq Ft (Avg/Median): $325 / $307
- Square Footage (Avg/Median): 1,981 / 1,785
- Square Footage Range: 596 – 5,357
- Days on Market (Avg/Median): 49 / 24
- Days on Market Range: 2 – 350
- New Listings: 25
- Total Listings: 206
Sales by Property Type
Condo
Avg/Median Price$315,023 / $305,000Range$139,900 – $499,000Price per Sq Ft$300 / $280Sq Ft1,057 / 1,018DOM106 / 56New1Total22
Land
Avg/Median Price$1,122,000 / $99,000Range$20,000 – $2,700,000Price per Sq Ft—Sq Ft—DOM34 / 36New1Total5
Multi-Family
Avg/Median Price$575,633 / $549,900Range$494,000 – $683,000Price per Sq Ft$308 / $310Sq Ft1,867 / 1,740DOM103 / 58New0Total3
Single Family
Avg/Median Price$703,044 / $649,900Range$300,000 – $2,800,000Price per Sq Ft$336 / $316Sq Ft2,213 / 2,066DOM39 / 17New22Total148
Townhouse
Avg/Median Price$421,585 / $409,900Range$280,000 – $555,000Price per Sq Ft$288 / $282Sq Ft1,492 / 1,497DOM48 / 24New1Total28
Sales by Bedroom Count
1 Beds
Avg:$209,950Median:$175,000Range:$164,900 – $300,000PSF:$334 / $294Sq Ft:627 / 596DOM:32 / 24New:0Total:4
2 Beds
Avg:$387,617Median:$399,000Range:$139,900 – $699,000PSF:$335 / $302Sq Ft:1,184 / 1,163DOM:73 / 30New:3Total:39
3 Beds
Avg:$590,150Median:$550,000Range:$285,000 – $1,495,000PSF:$352 / $348Sq Ft:1,714 / 1,619DOM:42 / 13New:7Total:76
4 Beds
Avg:$715,903Median:$689,000Range:$450,000 – $1,294,000PSF:$294 / $295Sq Ft:2,480 / 2,345DOM:48 / 25New:11Total:63
5 Beds
Avg:$1,006,393Median:$799,000Range:$624,900 – $2,800,000PSF:$302 / $286Sq Ft:3,331 / 3,285DOM:31 / 30New:2Total:16
6 Beds
Avg:$833,267Median:$849,900Range:$799,900 – $850,000PSF:$264 / $254Sq Ft:3,207 / 3,344DOM:40 / 7New:1Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $209,950 | $175,000 | $164,900 – $300,000 | $334 / $294 | 627 / 596 | 32 / 24 | 0 | 4 |
| 2 Beds | $387,617 | $399,000 | $139,900 – $699,000 | $335 / $302 | 1,184 / 1,163 | 73 / 30 | 3 | 39 |
| 3 Beds | $590,150 | $550,000 | $285,000 – $1,495,000 | $352 / $348 | 1,714 / 1,619 | 42 / 13 | 7 | 76 |
| 4 Beds | $715,903 | $689,000 | $450,000 – $1,294,000 | $294 / $295 | 2,480 / 2,345 | 48 / 25 | 11 | 63 |
| 5 Beds | $1,006,393 | $799,000 | $624,900 – $2,800,000 | $302 / $286 | 3,331 / 3,285 | 31 / 30 | 2 | 16 |
| 6 Beds | $833,267 | $849,900 | $799,900 – $850,000 | $264 / $254 | 3,207 / 3,344 | 40 / 7 | 1 | 3 |
Rental Market Overview
Median Rent
$1,550
0.0%
Median DOM
1
0.0%
New Listings
78
Inventory
246
−1.6%
- Average Rent: $1,852
- Median Rent: $1,550
- Rent Range: $900 – $6,500
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 977 / 849
- Square Footage Range: 270 – 4,228
- Days on Market (Avg/Median): 40 / 1
- Days on Market Range: 1 – 323
- New Listings: 78
- Total Listings: 246
Rentals by Property Type
Apartment
$1,482
Median DOM: 15
Inventory: 155
MoM: 0.0%
Condo
$1,395
Median DOM: 1
Inventory: 27
MoM: 0.0%
Single Family
$2,800
Median DOM: 1
Inventory: 57
MoM: 0.0%
Townhouse
$2,279
Median DOM: 1
Inventory: 5
MoM: 0.0%
Apartment
Avg/Median Rent$1,546 / $1,482Range$995 – $3,499Rent per Sq Ft$2 / $2Sq Ft792 / 756DOM59 / 15New36Total155
Condo
Avg/Median Rent$1,405 / $1,395Range$1,145 – $1,955Rent per Sq Ft$2 / $2Sq Ft782 / 776DOM1 / 1New12Total27
Multi-Family
Avg/Median Rent$2,245 / $2,095Range$2,095 – $2,395Rent per Sq Ft$2 / $2Sq Ft1,106 / 1,100DOM17 / 1New1Total2
Single Family
Avg/Median Rent$2,848 / $2,800Range$900 – $6,500Rent per Sq Ft$2 / $2Sq Ft1,562 / 1,462DOM16 / 1New27Total57
Townhouse
Avg/Median Rent$2,274 / $2,279Range$1,800 – $2,895Rent per Sq Ft$2 / $2Sq Ft1,276 / 1,025DOM5 / 1New2Total5
Rentals by Bedroom Count
Studio
Avg:$1,461Median:$1,399Range:$995 – $1,799PSF:$3 / $3Sq Ft:470 / 461DOM:59 / 1New:5Total:12
1 Beds
Avg:$1,435Median:$1,325Range:$900 – $2,699PSF:$2 / $2Sq Ft:651 / 650DOM:53 / 11New:15Total:68
2 Beds
Avg:$1,596Median:$1,537Range:$1,200 – $2,949PSF:$2 / $2Sq Ft:915 / 870DOM:44 / 1New:32Total:114
3 Beds
Avg:$2,917Median:$2,750Range:$1,595 – $6,500PSF:$2 / $2Sq Ft:1,393 / 1,335DOM:20 / 1New:19Total:39
4 Beds
Avg:$3,218Median:$3,195Range:$2,895 – $3,745PSF:$2 / $2Sq Ft:2,195 / 2,009DOM:2 / 1New:6Total:9
5 Beds
Avg:$3,998Median:$3,945Range:$3,295 – $4,500PSF:$1 / $1Sq Ft:2,868 / 2,250DOM:6 / 1New:1Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,461 | $1,399 | $995 – $1,799 | $3 / $3 | 470 / 461 | 59 / 1 | 5 | 12 |
| 1 Beds | $1,435 | $1,325 | $900 – $2,699 | $2 / $2 | 651 / 650 | 53 / 11 | 15 | 68 |
| 2 Beds | $1,596 | $1,537 | $1,200 – $2,949 | $2 / $2 | 915 / 870 | 44 / 1 | 32 | 114 |
| 3 Beds | $2,917 | $2,750 | $1,595 – $6,500 | $2 / $2 | 1,393 / 1,335 | 20 / 1 | 19 | 39 |
| 4 Beds | $3,218 | $3,195 | $2,895 – $3,745 | $2 / $2 | 2,195 / 2,009 | 2 / 1 | 6 | 9 |
| 5 Beds | $3,998 | $3,945 | $3,295 – $4,500 | $1 / $1 | 2,868 / 2,250 | 6 / 1 | 1 | 4 |
6-Month Sales Trend
Dec 2025
Median Price:$595,000Median DOM:69New:14Total:166
Jan 2026
Median Price:$579,000Median DOM:57New:45Total:155
Feb 2026
Median Price:$579,000Median DOM:37New:37Total:167
Mar 2026
Median Price:$579,000Median DOM:27New:50Total:174
Apr 2026
Median Price:$575,000Median DOM:25New:62Total:187
May 2026
Median Price:$579,000Median DOM:24New:25Total:206
6-Month Rental Trend
Dec 2025
Median Rent:$1,600Median DOM:1New:112Total:239
Jan 2026
Median Rent:$1,595Median DOM:1New:121Total:254
Feb 2026
Median Rent:$1,550Median DOM:1New:122Total:273
Mar 2026
Median Rent:$1,541Median DOM:2New:110Total:258
Apr 2026
Median Rent:$1,550Median DOM:1New:97Total:250
May 2026
Median Rent:$1,550Median DOM:1New:78Total:246
Key Market Takeaways
Median sale prices moved higher this month while inventory expanded. Days on market declined, signaling improving buyer activity. Rental pricing remained stable, 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.
970059700697007970089702497027970309703497035970609706297068970709720197202972039720497205972069720997210972119721297213972149721597216972179721897219+14 more
← Back to Portland Metro