ZIP 97233 Housing Market Report
Portland Metro
Report period: May 2026
97233 Monthly Market Update – May 2026
ZIP 97233 · Last updated May 11, 2026 · Data range Dec 2025 – May 2026
Executive Snapshot
Median Sale Price
$394,950
+1.5%
Median DOM (Sales)
34
−8.1%
New Listings (Sales)
18
−45.5%
Median Rent
$1,428
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
172
−4.4%
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: Multi-Family (7 DOM)
- Fastest renting: Apartment (1 DOM)
- Strongest bedroom: 7 Beds ($649,900 median)
Sales Market Overview
Median Price
$394,950
+1.5%
Median DOM
34
−8.1%
New Listings
18
−45.5%
Inventory
148
+8.0%
- Average Price: $392,322
- Median Price: $394,950
- Price Range: $39,999 – $2,200,000
- Price per Sq Ft (Avg/Median): $280 / $256
- Square Footage (Avg/Median): 1,509 / 1,222
- Square Footage Range: 397 – 14,080
- Days on Market (Avg/Median): 66 / 34
- Days on Market Range: 2 – 359
- New Listings: 18
- Total Listings: 148
Sales by Property Type
Condo
Avg/Median Price$255,811 / $242,000Range$169,000 – $374,900Price per Sq Ft$237 / $223Sq Ft1,097 / 1,087DOM93 / 53New3Total38
Land
Avg/Median Price$301,910 / $289,950Range$199,900 – $449,900Price per Sq Ft—Sq Ft—DOM102 / 90New0Total5
Manufactured
Avg/Median Price$72,700 / $75,000Range$39,999 – $89,999Price per Sq Ft$101 / $86Sq Ft788 / 789DOM67 / 67New1Total7
Multi-Family
Avg/Median Price$902,442 / $649,900Range$439,990 – $2,200,000Price per Sq Ft$225 / $214Sq Ft5,097 / 3,064DOM19 / 7New5Total8
Single Family
Avg/Median Price$438,789 / $420,000Range$203,000 – $624,900Price per Sq Ft$321 / $315Sq Ft1,501 / 1,316DOM59 / 25New8Total85
Townhouse
Avg/Median Price$361,579 / $294,994Range$200,000 – $749,900Price per Sq Ft$233 / $229Sq Ft1,472 / 1,288DOM23 / 8New1Total5
Sales by Bedroom Count
1 Beds
Avg:$204,725Median:$185,000Range:$84,900 – $359,000PSF:$299 / $247Sq Ft:660 / 724DOM:112 / 94New:0Total:4
2 Beds
Avg:$247,203Median:$230,000Range:$39,999 – $550,000PSF:$253 / $221Sq Ft:987 / 962DOM:93 / 59New:2Total:43
3 Beds
Avg:$407,735Median:$400,000Range:$230,000 – $659,950PSF:$313 / $304Sq Ft:1,380 / 1,222DOM:62 / 25New:8Total:62
4 Beds
Avg:$469,456Median:$449,999Range:$264,000 – $624,900PSF:$261 / $256Sq Ft:1,884 / 1,869DOM:29 / 11New:3Total:21
5 Beds
Avg:$853,167Median:$550,000Range:$525,000 – $2,200,000PSF:$253 / $220Sq Ft:4,167 / 2,181DOM:36 / 13New:1Total:6
6 Beds
Avg:$709,720Median:$599,900Range:$429,000 – $1,299,900PSF:$206 / $172Sq Ft:3,507 / 3,168DOM:60 / 39New:2Total:5
7 Beds
Avg:$649,900Median:$649,900Range:$649,900 – $649,900PSF:—Sq Ft:—DOM:3 / 2New:2Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 1 Beds | $204,725 | $185,000 | $84,900 – $359,000 | $299 / $247 | 660 / 724 | 112 / 94 | 0 | 4 |
| 2 Beds | $247,203 | $230,000 | $39,999 – $550,000 | $253 / $221 | 987 / 962 | 93 / 59 | 2 | 43 |
| 3 Beds | $407,735 | $400,000 | $230,000 – $659,950 | $313 / $304 | 1,380 / 1,222 | 62 / 25 | 8 | 62 |
| 4 Beds | $469,456 | $449,999 | $264,000 – $624,900 | $261 / $256 | 1,884 / 1,869 | 29 / 11 | 3 | 21 |
| 5 Beds | $853,167 | $550,000 | $525,000 – $2,200,000 | $253 / $220 | 4,167 / 2,181 | 36 / 13 | 1 | 6 |
| 6 Beds | $709,720 | $599,900 | $429,000 – $1,299,900 | $206 / $172 | 3,507 / 3,168 | 60 / 39 | 2 | 5 |
| 7 Beds | $649,900 | $649,900 | $649,900 – $649,900 | — | — | 3 / 2 | 2 | 2 |
Rental Market Overview
Median Rent
$1,428
0.0%
Median DOM
1
0.0%
New Listings
43
Inventory
172
−4.4%
- Average Rent: $1,490
- Median Rent: $1,428
- Rent Range: $725 – $2,876
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 841 / 850
- Square Footage Range: 336 – 1,573
- Days on Market (Avg/Median): 52 / 1
- Days on Market Range: 1 – 360
- New Listings: 43
- Total Listings: 172
Rentals by Property Type
Apartment
$1,400
Median DOM: 1
Inventory: 143
MoM: 0.0%
Condo
$1,125
Median DOM: 1
Inventory: 5
MoM: 0.0%
Single Family
$2,150
Median DOM: 1
Inventory: 21
MoM: 0.0%
Townhouse
$1,600
Median DOM: 1
Inventory: 2
MoM: 0.0%
Apartment
Avg/Median Rent$1,416 / $1,400Range$725 – $2,876Rent per Sq Ft$2 / $2Sq Ft803 / 850DOM65 / 1New31Total143
Condo
Avg/Median Rent$1,307 / $1,125Range$1,095 – $1,795Rent per Sq Ft$1 / $1Sq Ft922 / 850DOM1 / 1New4Total5
Multi-Family
Avg/Median Rent$1,295 / $1,295Range$1,295 – $1,295Rent per Sq Ft$2 / $2Sq Ft707 / 707DOM1 / 1New0Total1
Single Family
Avg/Median Rent$2,003 / $2,150Range$995 – $2,550Rent per Sq Ft$2 / $2Sq Ft1,065 / 1,018DOM1 / 1New8Total21
Townhouse
Avg/Median Rent$1,898 / $1,600Range$1,600 – $2,195Rent per Sq Ft$2 / $2Sq Ft985 / 780DOM2 / 1New0Total2
Rentals by Bedroom Count
Studio
Avg:$995Median:$995Range:$725 – $1,335PSF:$2 / $3Sq Ft:463 / 380DOM:61 / 35New:1Total:7
1 Beds
Avg:$1,251Median:$1,200Range:$845 – $2,876PSF:$2 / $2Sq Ft:601 / 620DOM:73 / 1New:16Total:45
2 Beds
Avg:$1,490Median:$1,450Range:$1,125 – $2,250PSF:$2 / $2Sq Ft:889 / 891DOM:57 / 1New:18Total:93
3 Beds
Avg:$1,996Median:$1,995Range:$1,500 – $2,550PSF:$2 / $2Sq Ft:1,137 / 1,126DOM:8 / 1New:8Total:26
4 Beds
Avg:$2,499Median:$2,499Range:$2,499 – $2,499PSF:$2 / $2Sq Ft:1,501 / 1,501DOM:1 / 1New:0Total:1
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $995 | $995 | $725 – $1,335 | $2 / $3 | 463 / 380 | 61 / 35 | 1 | 7 |
| 1 Beds | $1,251 | $1,200 | $845 – $2,876 | $2 / $2 | 601 / 620 | 73 / 1 | 16 | 45 |
| 2 Beds | $1,490 | $1,450 | $1,125 – $2,250 | $2 / $2 | 889 / 891 | 57 / 1 | 18 | 93 |
| 3 Beds | $1,996 | $1,995 | $1,500 – $2,550 | $2 / $2 | 1,137 / 1,126 | 8 / 1 | 8 | 26 |
| 4 Beds | $2,499 | $2,499 | $2,499 – $2,499 | $2 / $2 | 1,501 / 1,501 | 1 / 1 | 0 | 1 |
6-Month Sales Trend
Dec 2025
Median Price:$395,000Median DOM:89New:6Total:123
Jan 2026
Median Price:$380,000Median DOM:84New:22Total:114
Feb 2026
Median Price:$380,000Median DOM:55New:36Total:119
Mar 2026
Median Price:$380,000Median DOM:33New:34Total:135
Apr 2026
Median Price:$389,000Median DOM:37New:33Total:137
May 2026
Median Price:$394,950Median DOM:34New:18Total:148
6-Month Rental Trend
Dec 2025
Median Rent:$1,425Median DOM:18New:71Total:185
Jan 2026
Median Rent:$1,400Median DOM:1New:86Total:207
Feb 2026
Median Rent:$1,395Median DOM:1New:66Total:185
Mar 2026
Median Rent:$1,425Median DOM:1New:80Total:185
Apr 2026
Median Rent:$1,428Median DOM:1New:65Total:180
May 2026
Median Rent:$1,428Median DOM:1New:43Total:172
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.
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