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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 −0.3% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, −18.2% YoY, is the number to watch.
The median listing price is down 0.3% YoY while the median home got down 7.3% bigger, so value per square foot is up 4.6%.
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 $598K purchase rents for $1,639/mo: 0.27% of price per month against the 1% rule's 1.00%.
Not shown: Studio (rent only, no matching sale price), 6 BR (sale only, no matching rent).
Sales here take about 47 days longer to go under contract than rentals (median across 4 property types).
Not shown: Apartment (rented here, not sold), Land (sold here, not rented).
U.S. Census ACS characteristics for ZIP 97223 itself, not its parent county.
Renters hold 39.2% of this ZIP's 21,247 occupied households, on a median household income of $107K.
| Measure | ZIP 97223 | Washington County | Difference |
|---|---|---|---|
| Median Household Income | $107K | $108K | -$1K |
| Below Poverty Level | 6.9% | 8.1% | -1.2% |
| Median Age | 40.10 | 38.10 | +2.00 |
| Total Population | 50,527 | 603,947 | -- |
| Avg Household Size | 2.35 | 2.53 | -0.18 |
| Owner-Occupied | 60.8% | 60.8% | -0.1% |
| Worked From Home | 28.3% | 24.4% | +3.9% |
| Mean Commute | 23.20 | 24.00 | -0.80 |
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 up 0.6% to 603,947: residents under 18 are down 1.4% and those 65 and over are up 3.7%.
County median household income is $108K, 8.1% of residents are below the poverty level, 24.4% work from home.