ZIP 97223 Housing Market Report
Portland Metro
Report period: August 2026
97223 Monthly Market Update – August 2026
ZIP 97223 · Last updated Aug 9, 2026 · Data range Mar 2026 – Aug 2026
Executive Snapshot
Median Sale Price
$577,000
−0.1%
Median DOM (Sales)
37
+8.8%
New Listings (Sales)
14
−75.4%
Median Rent
$1,625
+2.5%
Median DOM (Rental)
1
0.0%
Total Rental Listings
246
−0.4%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market lengthened. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (27 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 5 Beds ($850,000 median)
Sales Market Overview
Median Price
$577,000
−0.1%
Median DOM
37
+8.8%
New Listings
14
−75.4%
Inventory
223
+0.9%
- Average Price: $609,898
- Median Price: $577,000
- Price Range: $20,000 – $2,250,000
- Price per Sq Ft (Avg/Median): $320 / $295
- Square Footage (Avg/Median): 1,991 / 1,782
- Square Footage Range: 596 – 5,357
- Days on Market (Avg/Median): 53 / 37
- Days on Market Range: 2 – 309
- New Listings: 14
- Total Listings: 223
Sales by Property Type
Condo
Avg/Median Price$315,446 / $300,000Range$136,000 – $499,000Price per Sq Ft$297 / $280Sq Ft1,072 / 1,018DOM82 / 58New1Total30
Land
Avg/Median Price$637,129 / $275,000Range$20,000 – $1,775,000Price per Sq Ft—Sq Ft—DOM63 / 95New1Total7
Multi-Family
Avg/Median Price$672,450 / $625,000Range$625,000 – $719,900Price per Sq Ft$340 / $318Sq Ft1,996 / 1,728DOM36 / 35New0Total2
Single Family
Avg/Median Price$696,691 / $625,000Range$275,000 – $2,250,000Price per Sq Ft$334 / $309Sq Ft2,235 / 2,072DOM43 / 27New12Total157
Townhouse
Avg/Median Price$420,688 / $419,900Range$339,000 – $519,000Price per Sq Ft$265 / $265Sq Ft1,595 / 1,600DOM83 / 72New0Total27
Sales by Bedroom Count
1 Beds
Avg:$167,250Median:$159,500Range:$159,500 – $175,000PSF:$281 / $268Sq Ft:596 / 596DOM:82 / 39New:0Total:2
2 Beds
Avg:$366,697Median:$360,000Range:$136,000 – $699,000PSF:$334 / $290Sq Ft:1,151 / 1,018DOM:74 / 58New:2Total:41
3 Beds
Avg:$591,698Median:$545,000Range:$280,000 – $2,250,000PSF:$357 / $348Sq Ft:1,648 / 1,597DOM:45 / 25New:4Total:81
4 Beds
Avg:$711,687Median:$659,000Range:$400,000 – $1,599,000PSF:$293 / $292Sq Ft:2,464 / 2,363DOM:49 / 41New:6Total:68
5 Beds
Avg:$840,815Median:$850,000Range:$575,000 – $1,199,000PSF:$250 / $240Sq Ft:3,413 / 3,412DOM:58 / 38New:1Total:20
6 Beds
Avg:$759,950Median:$719,900Range:$699,900 – $825,000PSF:$258 / $266Sq Ft:3,107 / 2,922DOM:19 / 14New:0Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $167,250 | $159,500 | $159,500 – $175,000 | $281 / $268 | 596 / 596 | 82 / 39 | 0 | 2 |
| 2 Beds | $366,697 | $360,000 | $136,000 – $699,000 | $334 / $290 | 1,151 / 1,018 | 74 / 58 | 2 | 41 |
| 3 Beds | $591,698 | $545,000 | $280,000 – $2,250,000 | $357 / $348 | 1,648 / 1,597 | 45 / 25 | 4 | 81 |
| 4 Beds | $711,687 | $659,000 | $400,000 – $1,599,000 | $293 / $292 | 2,464 / 2,363 | 49 / 41 | 6 | 68 |
| 5 Beds | $840,815 | $850,000 | $575,000 – $1,199,000 | $250 / $240 | 3,413 / 3,412 | 58 / 38 | 1 | 20 |
| 6 Beds | $759,950 | $719,900 | $699,900 – $825,000 | $258 / $266 | 3,107 / 2,922 | 19 / 14 | 0 | 4 |
Rental Market Overview
Median Rent
$1,625
+2.5%
Median DOM
1
0.0%
New Listings
69
Inventory
246
−0.4%
- Average Rent: $1,918
- Median Rent: $1,625
- Rent Range: $1,125 – $6,195
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,013 / 850
- Square Footage Range: 270 – 5,357
- Days on Market (Avg/Median): 45 / 1
- Days on Market Range: 1 – 365
- New Listings: 69
- Total Listings: 246
Rentals by Property Type
Apartment
$1,555
Median DOM: 24
Inventory: 166
MoM: +2.5%
Condo
$1,345
Median DOM: 1
Inventory: 15
MoM: +2.5%
Single Family
$2,800
Median DOM: 1
Inventory: 56
MoM: +2.5%
Townhouse
$2,495
Median DOM: 1
Inventory: 7
MoM: +2.5%
Apartment
Avg/Median Rent$1,608 / $1,555Range$1,125 – $2,699Rent per Sq Ft$2 / $2Sq Ft816 / 756DOM61 / 24New33Total166
Condo
Avg/Median Rent$1,324 / $1,345Range$1,150 – $1,475Rent per Sq Ft$2 / $2Sq Ft689 / 748DOM11 / 1New6Total15
Multi-Family
Avg/Median Rent$2,045 / $1,795Range$1,795 – $2,295Rent per Sq Ft$2 / $2Sq Ft1,038 / 964DOM29 / 1New0Total2
Single Family
Avg/Median Rent$2,932 / $2,800Range$1,200 – $6,195Rent per Sq Ft$2 / $2Sq Ft1,631 / 1,546DOM17 / 1New27Total56
Townhouse
Avg/Median Rent$2,382 / $2,495Range$1,300 – $2,995Rent per Sq Ft$2 / $2Sq Ft1,641 / 1,607DOM1 / 1New3Total7
Rentals by Bedroom Count
Studio
Avg:$1,648Median:$1,560Range:$1,150 – $2,200PSF:$4 / $3Sq Ft:516 / 486DOM:67 / 1New:3Total:7
1 Beds
Avg:$1,508Median:$1,450Range:$1,125 – $2,599PSF:$2 / $2Sq Ft:661 / 660DOM:52 / 15New:19Total:79
2 Beds
Avg:$1,637Median:$1,568Range:$1,199 – $2,699PSF:$2 / $2Sq Ft:909 / 896DOM:50 / 12New:25Total:106
3 Beds
Avg:$2,902Median:$2,795Range:$1,595 – $6,000PSF:$2 / $2Sq Ft:1,500 / 1,412DOM:31 / 1New:13Total:39
4 Beds
Avg:$3,176Median:$3,050Range:$2,400 – $4,150PSF:$1 / $1Sq Ft:2,253 / 2,200DOM:5 / 1New:7Total:11
5 Beds
Avg:$4,846Median:$3,695Range:$3,595 – $6,195PSF:$2 / $1Sq Ft:3,279 / 2,683DOM:7 / 1New:2Total:4
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,648 | $1,560 | $1,150 – $2,200 | $4 / $3 | 516 / 486 | 67 / 1 | 3 | 7 |
| 1 Beds | $1,508 | $1,450 | $1,125 – $2,599 | $2 / $2 | 661 / 660 | 52 / 15 | 19 | 79 |
| 2 Beds | $1,637 | $1,568 | $1,199 – $2,699 | $2 / $2 | 909 / 896 | 50 / 12 | 25 | 106 |
| 3 Beds | $2,902 | $2,795 | $1,595 – $6,000 | $2 / $2 | 1,500 / 1,412 | 31 / 1 | 13 | 39 |
| 4 Beds | $3,176 | $3,050 | $2,400 – $4,150 | $1 / $1 | 2,253 / 2,200 | 5 / 1 | 7 | 11 |
| 5 Beds | $4,846 | $3,695 | $3,595 – $6,195 | $2 / $1 | 3,279 / 2,683 | 7 / 1 | 2 | 4 |
6-Month Sales Trend
Mar 2026
Median Price:$579,000Median DOM:27New:50Total:174
Apr 2026
Median Price:$575,000Median DOM:25New:62Total:187
May 2026
Median Price:$595,000Median DOM:24New:75Total:218
Jun 2026
Median Price:$599,900Median DOM:29New:58Total:233
Jul 2026
Median Price:$577,400Median DOM:34New:57Total:221
Aug 2026
Median Price:$577,000Median DOM:37New:14Total:223
6-Month Rental Trend
Mar 2026
Median Rent:$1,541Median DOM:2New:110Total:258
Apr 2026
Median Rent:$1,550Median DOM:1New:97Total:250
May 2026
Median Rent:$1,595Median DOM:1New:109Total:241
Jun 2026
Median Rent:$1,599Median DOM:1New:98Total:245
Jul 2026
Median Rent:$1,586Median DOM:1New:96Total:247
Aug 2026
Median Rent:$1,625Median DOM:1New:69Total:246
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing increased, 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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