Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 3,807 people, 1,489 houses or apartments, and a median cost of homes of $300,609, Portland real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Portland, accounting for 62.47% of the city's housing units. Other types of housing that are prevalent in Portland include large apartment complexes or high rise apartments ( 25.33%), duplexes, homes converted to apartments or other small apartment buildings ( 5.77%), and a few mobile homes or trailers ( 3.48%).
The most prevalent building size and type in Portland are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.39% owning and 37.61% renting.
The housing in Portland was primarily built before 1939 ( 39.90%), making the housing stock in Portland some of the oldest overall in America, although there is a range of ages of homes in Portland. The next most important housing age is between 1970-1999 ( 33.40%), followed by between 1940-1969 ( 15.29%). There's also some housing in Portland built between 2000 and later ( 11.42%).
Appreciation rates for homes in Portland have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 95.66%, which ranks in the top 50% nationwide. This equates to an annual average Portland house appreciation rate of 6.94%.
Over the last year, Portland appreciation rates have trailed the rest of the nation. In the last twelve months, Portland's appreciation rate has been 2.90%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Portland were at 3.40%, which equates to an annual appreciation rate of 14.32%.
Importantly, this makes Portland one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Michigan, our data show that Portland's latest annual appreciation rate is lower than 80% of the other cities and towns in Michigan.
$300,609
for Michigan
for nation
1,489
$1,713 / per month