PORTLAND, Ore — With home prices in the Portland metro area rising higher and higher, the market is not favoring the homebuyer.
The median sale price of a home in the area is now firmly above the half-million-dollar mark, up 19% from a year ago. Saving for a downpayment is getting harding, and the income needed to afford a home purchase is getting higher.
In this new installment of the Business Journal's quarterly Hottest 'Hoods rankings, we are looking at the market from the buyer's perspective.
We ranked 25 ZIP codes in the Portland metro area according to median and average sale price, time on market and number of homes for sale to make a ranking of the best neighborhoods for homebuyers in the second quarter of 2021.
We found neighborhoods across metro Portland more favorable to buyers, with 10 in Multnomah County, nine in Washington and Clackamas counties and six across the Columbia in Washington.
Coming up, we will post our usual Heat Index ranking of Hottest 'Hoods for rising prices and accelerating sales. For now, check out the gallery above on the top 25 Portland metro area neighborhoods for buyers.
The Portland Business Journal is a KGW News partner.