dynamic.RE
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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 −21.0% YoY) or rent growth lifting rent-to-price toward 0.8%/mo would move this ZIP toward a cash-flow story. inventory, +30.1% YoY, is the number to watch.
The median listing price is down 21.0% YoY while the median home got down 2.1% bigger, so value per square foot is down 6.5%.
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 $708K purchase rents for $3,200/mo: 0.45% of price per month against the 1% rule's 1.00%.
U.S. Census ACS characteristics for ZIP 97231 itself, not its parent county.
Renters hold 11.7% of this ZIP's 1,829 occupied households, on a median household income of $138K.
| Measure | ZIP 97231 | Multnomah County | Difference |
|---|---|---|---|
| Median Household Income | $138K | $89K | +$49K |
| Below Poverty Level | 4.4% | 12.6% | -8.2% |
| Median Age | 51.70 | 38.70 | +13.00 |
| Total Population | 4,308 | 801,477 | -- |
| Avg Household Size | 2.33 | 2.23 | +0.10 |
| Owner-Occupied | 88.3% | 53.4% | +34.9% |
| Worked From Home | 33.6% | 26.1% | +7.5% |
| Mean Commute | 25.80 | 24.40 | +1.40 |
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.