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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Portland, MI Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Portland, MI Housing Market Trends

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%).

Portland Home Appreciation Rates

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.

Average Home Values

Median Home Value

$300,609

Portland, MI Home Prices
> $1,371,000
$1,028,001 - $1,371,000
$686,001 - $1,028,000
$549,001 - $686,000
$411,001 - $549,000
$274,001 - $411,000
$137,001 - $274,000
$68,001 - $137,000
$0 - $68,000
0.5%
0.5%
0.9%
0.9%
1.7%
1.7%
7.1%
7.1%
15.5%
15.5%
25.1%
25.1%
38.0%
38.0%
4.7%
4.7%
6.6%
6.6%
0% 100.0%
% of Homes
High

for Michigan

Average

for nation

Number of Homes And Apartments:

1,489

Portland Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,713 / per month

Homeownership Rate

Owners
Renters
62.4%
62.4%
37.6%
37.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
2.3%
2.3%
97.7%
97.7%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
11.4%
11.4%
33.4%
33.4%
15.3%
15.3%
39.9%
39.9%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.5%
62.5%
3.0%
3.0%
5.8%
5.8%
25.3%
25.3%
3.5%
3.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.8%
2.8%
8.3%
8.3%
32.5%
32.5%
40.2%
40.2%
14.9%
14.9%
1.3%
1.3%
0% 100.0%
% of Homes