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An appreciation-lean market without the demand pressure to back it. The rent math runs thin.
What would change this read: a price correction (median already +33.6% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −10.9% YoY, is the number to watch.
The median listing price is up 33.6% YoY while the median home got up 23.4% bigger, so value per square foot is down 11.0%.
Min/max come from the active-listing pool; the median comes from Realtor's separate listing set — the two are not subsets of each other, so the median's position relative to the tiles above should not be read literally.
At the median, a $502K purchase rents for $1,499/mo: 0.30% of price per month against the 1% rule's 1.00%.
Not shown: 8 BR (sale only, no matching rent).
Sales here take about 97 days longer to go under contract than rentals (median across 3 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented), Townhouse (sold here, not rented).
U.S. Census ACS characteristics for ZIP 97201 itself, not its parent county.
Renters hold 72.8% of this ZIP's 9,758 occupied households, on a median household income of $63K.
| Measure | ZIP 97201 | Multnomah County | Difference |
|---|---|---|---|
| Median Household Income | $63K | $89K | -$26K |
| Below Poverty Level | 19.1% | 12.6% | +6.5% |
| Median Age | 33.60 | 38.70 | -5.10 |
| Total Population | 16,887 | 801,477 | -- |
| Avg Household Size | 1.56 | 2.23 | -0.67 |
| Owner-Occupied | 27.2% | 53.4% | -26.2% |
| Worked From Home | 27.0% | 26.1% | +0.9% |
| Mean Commute | 21.20 | 24.40 | -3.20 |
Higher or lower is not itself good or bad — it describes the neighborhood, not the investment.
ZIP-level figures come from ZIP Code Tabulation Areas, which approximate but do not exactly match USPS ZIP codes. A missing value is suppressed or unavailable at this sample size, not zero. Estimates for 2019–2020 use the 2010 ZCTA boundaries and 2021–2024 the 2020 ones, so a step between those two years may be a boundary change rather than real movement.
County population is down 0.3% to 801,477: residents under 18 are down 2.1% and those 65 and over are up 2.2%.
County median household income is $89K, 12.6% of residents are below the poverty level, 26.1% work from home.