ZIP 97229 Housing Market Report
Portland Metro
Report period: May 2026
97229 Monthly Market Update – May 2026
ZIP 97229 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$769,950
−0.7%
Median DOM (Sales)
31
−8.8%
New Listings (Sales)
72
−52.9%
Median Rent
$1,875
+0.9%
Median DOM (Rental)
1
0.0%
Total Rental Listings
271
−7.2%
Month-over-Month Movement
Median sale prices eased compared to last month. Days on market improved. Rents moved higher. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Single Family (23 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 7 Beds ($1,149,950 median)
Sales Market Overview
Median Price
$769,950
−0.7%
Median DOM
31
−8.8%
New Listings
72
−52.9%
Inventory
530
+5.2%
- Average Price: $809,069
- Median Price: $769,950
- Price Range: $100,000 – $6,500,000
- Price per Sq Ft (Avg/Median): $317 / $309
- Square Footage (Avg/Median): 2,613 / 2,509
- Square Footage Range: 467 – 10,136
- Days on Market (Avg/Median): 59 / 31
- Days on Market Range: 1 – 363
- New Listings: 72
- Total Listings: 530
Sales by Property Type
Condo
Avg/Median Price$343,076 / $324,900Range$169,000 – $750,000Price per Sq Ft$299 / $295Sq Ft1,160 / 1,088DOM98 / 57New6Total68
Land
Avg/Median Price$456,925 / $365,000Range$100,000 – $1,895,000Price per Sq Ft—Sq Ft—DOM154 / 83New1Total20
Single Family
Avg/Median Price$958,391 / $849,900Range$450,000 – $6,500,000Price per Sq Ft$322 / $314Sq Ft3,016 / 2,867DOM49 / 23New60Total386
Townhouse
Avg/Median Price$471,424 / $459,900Range$350,000 – $657,500Price per Sq Ft$298 / $291Sq Ft1,595 / 1,561DOM53 / 39New5Total56
Sales by Bedroom Count
Studio
Avg:$174,900Median:$174,900Range:$174,900 – $174,900PSF:$375 / $375Sq Ft:467 / 467DOM:191 / 191New:0Total:1
1 Beds
Avg:$204,989Median:$185,000Range:$169,000 – $254,999PSF:$334 / $343Sq Ft:616 / 634DOM:47 / 30New:1Total:9
2 Beds
Avg:$399,154Median:$378,000Range:$190,000 – $849,900PSF:$305 / $302Sq Ft:1,303 / 1,244DOM:87 / 54New:8Total:78
3 Beds
Avg:$662,234Median:$590,000Range:$350,000 – $2,190,000PSF:$330 / $320Sq Ft:2,011 / 1,757DOM:49 / 23New:17Total:112
4 Beds
Avg:$944,012Median:$835,000Range:$488,000 – $6,500,000PSF:$318 / $311Sq Ft:2,965 / 2,735DOM:48 / 23New:28Total:187
5 Beds
Avg:$1,073,218Median:$995,000Range:$699,000 – $2,500,000PSF:$311 / $300Sq Ft:3,497 / 3,286DOM:50 / 26New:15Total:103
6 Beds
Avg:$1,222,247Median:$1,050,000Range:$719,000 – $2,395,000PSF:$308 / $287Sq Ft:3,930 / 3,824DOM:69 / 47New:2Total:17
7 Beds
Avg:$1,497,983Median:$1,149,950Range:$849,000 – $2,495,000PSF:$251 / $246Sq Ft:5,992 / 4,224DOM:150 / 93New:0Total:3
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $174,900 | $174,900 | $174,900 – $174,900 | $375 / $375 | 467 / 467 | 191 / 191 | 0 | 1 |
| 1 Beds | $204,989 | $185,000 | $169,000 – $254,999 | $334 / $343 | 616 / 634 | 47 / 30 | 1 | 9 |
| 2 Beds | $399,154 | $378,000 | $190,000 – $849,900 | $305 / $302 | 1,303 / 1,244 | 87 / 54 | 8 | 78 |
| 3 Beds | $662,234 | $590,000 | $350,000 – $2,190,000 | $330 / $320 | 2,011 / 1,757 | 49 / 23 | 17 | 112 |
| 4 Beds | $944,012 | $835,000 | $488,000 – $6,500,000 | $318 / $311 | 2,965 / 2,735 | 48 / 23 | 28 | 187 |
| 5 Beds | $1,073,218 | $995,000 | $699,000 – $2,500,000 | $311 / $300 | 3,497 / 3,286 | 50 / 26 | 15 | 103 |
| 6 Beds | $1,222,247 | $1,050,000 | $719,000 – $2,395,000 | $308 / $287 | 3,930 / 3,824 | 69 / 47 | 2 | 17 |
| 7 Beds | $1,497,983 | $1,149,950 | $849,000 – $2,495,000 | $251 / $246 | 5,992 / 4,224 | 150 / 93 | 0 | 3 |
Rental Market Overview
Median Rent
$1,875
+0.9%
Median DOM
1
0.0%
New Listings
89
Inventory
271
−7.2%
- Average Rent: $2,316
- Median Rent: $1,875
- Rent Range: $1,145 – $8,995
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 1,358 / 1,004
- Square Footage Range: 343 – 4,463
- Days on Market (Avg/Median): 31 / 1
- Days on Market Range: 1 – 357
- New Listings: 89
- Total Listings: 271
Rentals by Property Type
Apartment
$1,746
Median DOM: 21
Inventory: 126
MoM: +0.9%
Condo
$1,599
Median DOM: 1
Inventory: 19
MoM: +0.9%
Single Family
$2,895
Median DOM: 1
Inventory: 107
MoM: +0.9%
Townhouse
$1,975
Median DOM: 1
Inventory: 16
MoM: +0.9%
Apartment
Avg/Median Rent$1,820 / $1,746Range$1,150 – $6,350Rent per Sq Ft$2 / $2Sq Ft874 / 864DOM54 / 21New31Total126
Condo
Avg/Median Rent$1,721 / $1,599Range$1,145 – $2,815Rent per Sq Ft$2 / $2Sq Ft941 / 812DOM9 / 1New5Total19
Multi-Family
Avg/Median Rent$2,612 / $2,445Range$2,090 – $3,300Rent per Sq Ft$2 / $2Sq Ft1,369 / 1,000DOM121 / 32New0Total3
Single Family
Avg/Median Rent$3,022 / $2,895Range$1,295 – $8,995Rent per Sq Ft$2 / $2Sq Ft1,993 / 1,800DOM7 / 1New50Total107
Townhouse
Avg/Median Rent$2,159 / $1,975Range$1,400 – $4,000Rent per Sq Ft$2 / $2Sq Ft1,270 / 1,075DOM36 / 1New3Total16
Rentals by Bedroom Count
Studio
Avg:$1,219Median:$1,195Range:$1,162 – $1,300PSF:$3 / $3Sq Ft:433 / 467DOM:1 / 1New:2Total:3
1 Beds
Avg:$1,533Median:$1,530Range:$1,145 – $2,060PSF:$2 / $2Sq Ft:699 / 714DOM:72 / 32New:8Total:51
2 Beds
Avg:$1,832Median:$1,782Range:$1,295 – $4,526PSF:$2 / $2Sq Ft:971 / 977DOM:30 / 1New:37Total:112
3 Beds
Avg:$2,897Median:$2,575Range:$1,495 – $8,800PSF:$2 / $2Sq Ft:1,635 / 1,571DOM:18 / 1New:24Total:56
4 Beds
Avg:$3,430Median:$3,195Range:$2,500 – $8,995PSF:$1 / $1Sq Ft:2,391 / 2,379DOM:19 / 1New:11Total:35
5 Beds
Avg:$4,113Median:$3,995Range:$3,295 – $5,195PSF:$1 / $1Sq Ft:3,269 / 3,045DOM:1 / 1New:5Total:12
6 Beds
Avg:$4,550Median:$4,500Range:$4,500 – $4,600PSF:$1 / $1Sq Ft:3,701 / 3,502DOM:5 / 1New:2Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,219 | $1,195 | $1,162 – $1,300 | $3 / $3 | 433 / 467 | 1 / 1 | 2 | 3 |
| 1 Beds | $1,533 | $1,530 | $1,145 – $2,060 | $2 / $2 | 699 / 714 | 72 / 32 | 8 | 51 |
| 2 Beds | $1,832 | $1,782 | $1,295 – $4,526 | $2 / $2 | 971 / 977 | 30 / 1 | 37 | 112 |
| 3 Beds | $2,897 | $2,575 | $1,495 – $8,800 | $2 / $2 | 1,635 / 1,571 | 18 / 1 | 24 | 56 |
| 4 Beds | $3,430 | $3,195 | $2,500 – $8,995 | $1 / $1 | 2,391 / 2,379 | 19 / 1 | 11 | 35 |
| 5 Beds | $4,113 | $3,995 | $3,295 – $5,195 | $1 / $1 | 3,269 / 3,045 | 1 / 1 | 5 | 12 |
| 6 Beds | $4,550 | $4,500 | $4,500 – $4,600 | $1 / $1 | 3,701 / 3,502 | 5 / 1 | 2 | 2 |
6-Month Sales Trend
Dec 2025
Median Price:$775,000Median DOM:95New:57Total:425
Jan 2026
Median Price:$774,900Median DOM:85New:128Total:411
Feb 2026
Median Price:$779,999Median DOM:44New:123Total:427
Mar 2026
Median Price:$775,000Median DOM:32New:145Total:462
Apr 2026
Median Price:$775,000Median DOM:34New:153Total:504
May 2026
Median Price:$769,950Median DOM:31New:72Total:530
6-Month Rental Trend
Dec 2025
Median Rent:$2,141Median DOM:1New:160Total:280
Jan 2026
Median Rent:$1,889Median DOM:1New:152Total:284
Feb 2026
Median Rent:$1,850Median DOM:1New:128Total:281
Mar 2026
Median Rent:$1,888Median DOM:1New:148Total:270
Apr 2026
Median Rent:$1,859Median DOM:1New:148Total:292
May 2026
Median Rent:$1,875Median DOM:1New:89Total:271
Key Market Takeaways
Median sale prices softened this month while inventory expanded. Days on market declined, signaling improving 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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