ZIP 97232 Housing Market Report
Portland Metro
Report period: May 2026
97232 Monthly Market Update – May 2026
ZIP 97232 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$585,000
0.0%
Median DOM (Sales)
30
+25.0%
New Listings (Sales)
3
−86.4%
Median Rent
$1,545
−2.5%
Median DOM (Rental)
1
0.0%
Total Rental Listings
317
+6.0%
Month-over-Month Movement
Median sale prices were flat. Days on market lengthened. Rents softened. Rental inventory expanded.
What's Moving Fastest
- Fastest selling: Single Family (9 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 5 Beds ($1,710,000 median)
Sales Market Overview
Median Price
$585,000
0.0%
Median DOM
30
+25.0%
New Listings
3
−86.4%
Inventory
54
+1.9%
- Average Price: $683,392
- Median Price: $585,000
- Price Range: $185,000 – $2,500,000
- Price per Sq Ft (Avg/Median): $357 / $340
- Square Footage (Avg/Median): 2,055 / 1,872
- Square Footage Range: 481 – 5,957
- Days on Market (Avg/Median): 53 / 30
- Days on Market Range: 2 – 300
- New Listings: 3
- Total Listings: 54
Sales by Property Type
Condo
Avg/Median Price$322,888 / $270,000Range$185,000 – $639,000Price per Sq Ft$351 / $345Sq Ft912 / 861DOM84 / 61New0Total21
Land
Avg/Median Price$476,980 / $585,000Range$250,000 – $650,000Price per Sq Ft—Sq Ft—DOM33 / 18New1Total5
Multi-Family
Avg/Median Price$1,143,167 / $1,099,000Range$875,000 – $1,395,000Price per Sq Ft$305 / $335Sq Ft3,960 / 3,367DOM37 / 25New0Total6
Single Family
Avg/Median Price$991,480 / $870,000Range$488,000 – $2,500,000Price per Sq Ft$382 / $336Sq Ft2,721 / 2,570DOM33 / 9New2Total20
Townhouse
Avg/Median Price$524,500 / $499,000Range$499,000 – $550,000Price per Sq Ft$320 / $273Sq Ft1,686 / 1,356DOM19 / 11New0Total2
Sales by Bedroom Count
Studio
Avg:$185,000Median:$185,000Range:$185,000 – $185,000PSF:$385 / $385Sq Ft:481 / 481DOM:80 / 80New:0Total:1
1 Beds
Avg:$228,356Median:$219,000Range:$189,000 – $305,000PSF:$347 / $336Sq Ft:668 / 560DOM:65 / 41New:0Total:8
2 Beds
Avg:$470,282Median:$488,000Range:$256,000 – $870,000PSF:$378 / $345Sq Ft:1,281 / 1,240DOM:77 / 60New:0Total:17
3 Beds
Avg:$753,167Median:$675,000Range:$550,000 – $950,000PSF:$335 / $336Sq Ft:2,254 / 2,017DOM:9 / 4New:1Total:6
4 Beds
Avg:$1,025,657Median:$995,000Range:$699,000 – $1,620,700PSF:$368 / $347Sq Ft:2,847 / 2,604DOM:53 / 6New:0Total:7
5 Beds
Avg:$1,668,333Median:$1,710,000Range:$795,000 – $2,500,000PSF:$403 / $420Sq Ft:4,141 / 3,389DOM:56 / 61New:0Total:3
6 Beds
Avg:$973,000Median:$1,025,000Range:$799,000 – $1,095,000PSF:$278 / $292Sq Ft:3,684 / 3,505DOM:12 / 10New:1Total:3
7 Beds
Avg:$1,263,000Median:$1,295,000Range:$1,099,000 – $1,395,000PSF:$309 / $340Sq Ft:4,296 / 4,100DOM:44 / 53New:0Total:3
8 Beds
Avg:$1,100,000Median:$1,100,000Range:$1,100,000 – $1,100,000PSF:$335 / $335Sq Ft:3,288 / 3,288DOM:4 / 4New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $185,000 | $185,000 | $185,000 – $185,000 | $385 / $385 | 481 / 481 | 80 / 80 | 0 | 1 |
| 1 Beds | $228,356 | $219,000 | $189,000 – $305,000 | $347 / $336 | 668 / 560 | 65 / 41 | 0 | 8 |
| 2 Beds | $470,282 | $488,000 | $256,000 – $870,000 | $378 / $345 | 1,281 / 1,240 | 77 / 60 | 0 | 17 |
| 3 Beds | $753,167 | $675,000 | $550,000 – $950,000 | $335 / $336 | 2,254 / 2,017 | 9 / 4 | 1 | 6 |
| 4 Beds | $1,025,657 | $995,000 | $699,000 – $1,620,700 | $368 / $347 | 2,847 / 2,604 | 53 / 6 | 0 | 7 |
| 5 Beds | $1,668,333 | $1,710,000 | $795,000 – $2,500,000 | $403 / $420 | 4,141 / 3,389 | 56 / 61 | 0 | 3 |
| 6 Beds | $973,000 | $1,025,000 | $799,000 – $1,095,000 | $278 / $292 | 3,684 / 3,505 | 12 / 10 | 1 | 3 |
| 7 Beds | $1,263,000 | $1,295,000 | $1,099,000 – $1,395,000 | $309 / $340 | 4,296 / 4,100 | 44 / 53 | 0 | 3 |
| 8 Beds | $1,100,000 | $1,100,000 | $1,100,000 – $1,100,000 | $335 / $335 | 3,288 / 3,288 | 4 / 4 | 0 | 1 |
Rental Market Overview
Median Rent
$1,545
−2.5%
Median DOM
1
0.0%
New Listings
163
Inventory
317
+6.0%
- Average Rent: $1,724
- Median Rent: $1,545
- Rent Range: $695 – $8,739
- Rent per Sq Ft (Avg/Median): $3 / $3
- Square Footage (Avg/Median): 711 / 650
- Square Footage Range: 265 – 2,922
- Days on Market (Avg/Median): 17 / 1
- Days on Market Range: 1 – 353
- New Listings: 163
- Total Listings: 317
Rentals by Property Type
Apartment
$1,531
Median DOM: 1
Inventory: 297
MoM: −2.5%
Condo
$1,179
Median DOM: 1
Inventory: 4
MoM: −2.5%
Single Family
$2,000
Median DOM: 1
Inventory: 15
MoM: −2.5%
Townhouse
$4,495
Median DOM: 30
Inventory: 1
MoM: −2.5%
Apartment
Avg/Median Rent$1,688 / $1,531Range$908 – $8,739Rent per Sq Ft$3 / $3Sq Ft677 / 638DOM18 / 1New155Total297
Condo
Avg/Median Rent$1,492 / $1,179Range$1,095 – $2,095Rent per Sq Ft$2 / $2Sq Ft655 / 460DOM1 / 1New4Total4
Single Family
Avg/Median Rent$2,318 / $2,000Range$695 – $5,000Rent per Sq Ft$2 / $2Sq Ft1,364 / 1,060DOM12 / 1New4Total15
Townhouse
Avg/Median Rent$4,495 / $4,495Range$4,495 – $4,495Rent per Sq Ft$2 / $2Sq Ft2,000 / 2,000DOM30 / 30New0Total1
Rentals by Bedroom Count
Studio
Avg:$1,347Median:$1,307Range:$695 – $2,200PSF:$3 / $3Sq Ft:503 / 504DOM:30 / 1New:44Total:96
1 Beds
Avg:$1,618Median:$1,595Range:$1,020 – $2,469PSF:$3 / $3Sq Ft:658 / 658DOM:7 / 1New:92Total:152
2 Beds
Avg:$2,209Median:$2,270Range:$1,395 – $5,103PSF:$2 / $2Sq Ft:979 / 985DOM:15 / 1New:24Total:58
3 Beds
Avg:$3,407Median:$3,295Range:$1,575 – $6,146PSF:$2 / $1Sq Ft:1,754 / 1,700DOM:40 / 1New:3Total:8
4 Beds
Avg:$5,794Median:$2,849Range:$2,849 – $8,739PSF:$4 / $2Sq Ft:1,550 / 1,399DOM:165 / 162New:0Total:2
5 Beds
Avg:$4,495Median:$4,495Range:$4,495 – $4,495PSF:$2 / $2Sq Ft:2,000 / 2,000DOM:30 / 30New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,347 | $1,307 | $695 – $2,200 | $3 / $3 | 503 / 504 | 30 / 1 | 44 | 96 |
| 1 Beds | $1,618 | $1,595 | $1,020 – $2,469 | $3 / $3 | 658 / 658 | 7 / 1 | 92 | 152 |
| 2 Beds | $2,209 | $2,270 | $1,395 – $5,103 | $2 / $2 | 979 / 985 | 15 / 1 | 24 | 58 |
| 3 Beds | $3,407 | $3,295 | $1,575 – $6,146 | $2 / $1 | 1,754 / 1,700 | 40 / 1 | 3 | 8 |
| 4 Beds | $5,794 | $2,849 | $2,849 – $8,739 | $4 / $2 | 1,550 / 1,399 | 165 / 162 | 0 | 2 |
| 5 Beds | $4,495 | $4,495 | $4,495 – $4,495 | $2 / $2 | 2,000 / 2,000 | 30 / 30 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$375,000Median DOM:95New:1Total:34
Jan 2026
Median Price:$310,000Median DOM:66New:8Total:28
Feb 2026
Median Price:$330,000Median DOM:40New:8Total:30
Mar 2026
Median Price:$530,000Median DOM:25New:16Total:40
Apr 2026
Median Price:$585,000Median DOM:24New:22Total:53
May 2026
Median Price:$585,000Median DOM:30New:3Total:54
6-Month Rental Trend
Dec 2025
Median Rent:$1,569Median DOM:1New:165Total:231
Jan 2026
Median Rent:$1,589Median DOM:1New:169Total:260
Feb 2026
Median Rent:$1,581Median DOM:1New:173Total:298
Mar 2026
Median Rent:$1,545Median DOM:1New:157Total:278
Apr 2026
Median Rent:$1,585Median DOM:1New:189Total:299
May 2026
Median Rent:$1,545Median DOM:1New:163Total:317
Key Market Takeaways
Median sale prices held steady this month while inventory expanded. Days on market lengthened, signaling slower buyer activity. Rental pricing eased, while total rental inventory increased.
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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