PORTLAND, Ore. — In spite of the ongoing pandemic and economic turbulence, 2021 was a big year for home appreciation in the Portland metro area.
Housing costs, in fact, played a big role in the inflation accelerating across the country and in Portland especially.
During 2021, according to the Regional Multiple Listing Service (RMLS), the median home price in the Portland metro area rose an astonishing 15.7% from $440,000 to $509,000, more than doubling the pace from 2020 when it rose 7.3%.
The suburbs flexed their muscles on price. Among the four counties included in the metro area, Clackamas, which includes swanky Lake Oswego, had the highest average median home price of nearly $584,000. Washington County, with pricy homes in Northwest Heights and Bethany, came in second topping $540,000, followed by urban Multnomah, surpassing $522,000, and Clark up in Washington State at $480,000.
Nevertheless, the top 25 priciest ZIP codes (among 100 total) were more urban-centric, with 14 in Portland city limits and 13 in Multnomah County. Seven were in Clackamas County, three in Clark County and just two in Washington County.
See the 25 places in the Portland area with the fastest-rising home prices at the Portland Business Journal.