ZIP 97227 Housing Market Report
Portland Metro
Report period: May 2026
97227 Monthly Market Update – May 2026
ZIP 97227 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$587,000
0.0%
Median DOM (Sales)
35
+29.6%
New Listings (Sales)
1
−90.0%
Median Rent
$1,570
−1.6%
Median DOM (Rental)
1
0.0%
Total Rental Listings
120
−0.8%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents softened. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Townhouse (4 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 6 Beds ($2,100,000 median)
Sales Market Overview
Median Price
$587,000
0.0%
Median DOM
35
+29.6%
New Listings
1
−90.0%
Inventory
27
0.0%
- Average Price: $631,702
- Median Price: $587,000
- Price Range: $239,000 – $2,100,000
- Price per Sq Ft (Avg/Median): $326 / $311
- Square Footage (Avg/Median): 2,004 / 1,858
- Square Footage Range: 757 – 4,743
- Days on Market (Avg/Median): 59 / 35
- Days on Market Range: 1 – 262
- New Listings: 1
- Total Listings: 27
Sales by Property Type
Condo
Avg/Median Price$333,144 / $349,900Range$239,000 – $425,000Price per Sq Ft$359 / $344Sq Ft938 / 930DOM101 / 69New0Total9
Multi-Family
Avg/Median Price$1,300,000 / $1,175,000Range$625,000 – $2,100,000Price per Sq Ft$391 / $434Sq Ft3,377 / 3,949DOM69 / 24New0Total3
Single Family
Avg/Median Price$681,361 / $610,000Range$459,000 – $999,000Price per Sq Ft$284 / $271Sq Ft2,448 / 2,542DOM37 / 35New1Total13
Townhouse
Avg/Median Price$649,975 / $534,950Range$534,950 – $765,000Price per Sq Ft$353 / $288Sq Ft1,846 / 1,834DOM16 / 4New0Total2
Sales by Bedroom Count
1 Beds
Avg:$266,750Median:$239,000Range:$239,000 – $320,000PSF:$308 / $311Sq Ft:888 / 769DOM:60 / 32New:0Total:4
2 Beds
Avg:$434,538Median:$410,000Range:$349,900 – $587,000PSF:$357 / $343Sq Ft:1,314 / 1,052DOM:96 / 95New:1Total:8
3 Beds
Avg:$595,950Median:$594,900Range:$485,000 – $765,000PSF:$323 / $316Sq Ft:1,862 / 1,858DOM:23 / 28New:0Total:5
4 Beds
Avg:$835,414Median:$799,900Range:$610,000 – $1,175,000PSF:$309 / $298Sq Ft:2,791 / 2,856DOM:64 / 63New:0Total:7
5 Beds
Avg:$792,500Median:$735,000Range:$735,000 – $850,000PSF:$246 / $243Sq Ft:3,224 / 2,944DOM:15 / 4New:0Total:2
6 Beds
Avg:$2,100,000Median:$2,100,000Range:$2,100,000 – $2,100,000PSF:$443 / $443Sq Ft:4,743 / 4,743DOM:24 / 24New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $266,750 | $239,000 | $239,000 – $320,000 | $308 / $311 | 888 / 769 | 60 / 32 | 0 | 4 |
| 2 Beds | $434,538 | $410,000 | $349,900 – $587,000 | $357 / $343 | 1,314 / 1,052 | 96 / 95 | 1 | 8 |
| 3 Beds | $595,950 | $594,900 | $485,000 – $765,000 | $323 / $316 | 1,862 / 1,858 | 23 / 28 | 0 | 5 |
| 4 Beds | $835,414 | $799,900 | $610,000 – $1,175,000 | $309 / $298 | 2,791 / 2,856 | 64 / 63 | 0 | 7 |
| 5 Beds | $792,500 | $735,000 | $735,000 – $850,000 | $246 / $243 | 3,224 / 2,944 | 15 / 4 | 0 | 2 |
| 6 Beds | $2,100,000 | $2,100,000 | $2,100,000 – $2,100,000 | $443 / $443 | 4,743 / 4,743 | 24 / 24 | 0 | 1 |
Rental Market Overview
Median Rent
$1,570
−1.6%
Median DOM
1
0.0%
New Listings
40
Inventory
120
−0.8%
- Average Rent: $1,747
- Median Rent: $1,570
- Rent Range: $697 – $4,195
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 726 / 604
- Square Footage Range: 255 – 2,950
- Days on Market (Avg/Median): 17 / 1
- Days on Market Range: 1 – 353
- New Listings: 40
- Total Listings: 120
Rentals by Property Type
Apartment
$1,550
Median DOM: 1
Inventory: 105
MoM: −1.6%
Condo
$1,399
Median DOM: 1
Inventory: 4
MoM: −1.6%
Single Family
$2,870
Median DOM: 1
Inventory: 11
MoM: −1.6%
Townhouse
—
Median DOM: —
Inventory: —
MoM: −1.6%
Apartment
Avg/Median Rent$1,643 / $1,550Range$697 – $2,775Rent per Sq Ft$3 / $3Sq Ft638 / 580DOM20 / 1New36Total105
Condo
Avg/Median Rent$1,565 / $1,399Range$1,220 – $2,195Rent per Sq Ft$2 / $2Sq Ft685 / 604DOM1 / 1New1Total4
Single Family
Avg/Median Rent$2,804 / $2,870Range$1,295 – $4,195Rent per Sq Ft$2 / $2Sq Ft1,529 / 1,257DOM4 / 1New3Total11
Rentals by Bedroom Count
Studio
Avg:$1,204Median:$1,220Range:$697 – $1,675PSF:$3 / $3Sq Ft:460 / 479DOM:55 / 1New:4Total:24
1 Beds
Avg:$1,670Median:$1,580Range:$1,125 – $2,538PSF:$3 / $3Sq Ft:642 / 596DOM:11 / 1New:33Total:77
2 Beds
Avg:$2,320Median:$2,199Range:$1,999 – $2,775PSF:$2 / $2Sq Ft:962 / 984DOM:10 / 1New:3Total:13
3 Beds
Avg:$3,468Median:$3,400Range:$2,870 – $4,150PSF:$2 / $2Sq Ft:1,849 / 1,806DOM:10 / 1New:0Total:4
4 Beds
Avg:$3,895Median:$3,895Range:$3,895 – $3,895PSF:$2 / $2Sq Ft:2,350 / 2,350DOM:1 / 1New:0Total:1
5 Beds
Avg:$4,195Median:$4,195Range:$4,195 – $4,195PSF:$1 / $1Sq Ft:2,950 / 2,950DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,204 | $1,220 | $697 – $1,675 | $3 / $3 | 460 / 479 | 55 / 1 | 4 | 24 |
| 1 Beds | $1,670 | $1,580 | $1,125 – $2,538 | $3 / $3 | 642 / 596 | 11 / 1 | 33 | 77 |
| 2 Beds | $2,320 | $2,199 | $1,999 – $2,775 | $2 / $2 | 962 / 984 | 10 / 1 | 3 | 13 |
| 3 Beds | $3,468 | $3,400 | $2,870 – $4,150 | $2 / $2 | 1,849 / 1,806 | 10 / 1 | 0 | 4 |
| 4 Beds | $3,895 | $3,895 | $3,895 – $3,895 | $2 / $2 | 2,350 / 2,350 | 1 / 1 | 0 | 1 |
| 5 Beds | $4,195 | $4,195 | $4,195 – $4,195 | $1 / $1 | 2,950 / 2,950 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$423,000Median DOM:131New:0Total:20
Jan 2026
Median Price:$410,000Median DOM:67New:8Total:23
Feb 2026
Median Price:$454,900Median DOM:37New:5Total:24
Mar 2026
Median Price:$422,000Median DOM:54New:4Total:18
Apr 2026
Median Price:$587,000Median DOM:27New:10Total:27
May 2026
Median Price:$587,000Median DOM:35New:1Total:27
6-Month Rental Trend
Dec 2025
Median Rent:$1,583Median DOM:1New:73Total:106
Jan 2026
Median Rent:$1,645Median DOM:1New:79Total:120
Feb 2026
Median Rent:$1,635Median DOM:1New:72Total:136
Mar 2026
Median Rent:$1,695Median DOM:1New:67Total:126
Apr 2026
Median Rent:$1,596Median DOM:1New:70Total:121
May 2026
Median Rent:$1,570Median DOM:1New:40Total:120
Key Market Takeaways
Median sale prices held steady this month while inventory remained stable. 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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