Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$496,807+0.2% YoY · prices are flat
Market right nowBalanced, leaning buyersMore homes for sale than last year, 31% have cut their price
Income needed to buy, per year$107,697About 1.2× the local median income ($90,423): a stretch for a typical household
Days on market70 daysAbout the same pace as a year ago
Next 12 months−0.1%Zillow expects prices to stay about flat
The typical home in Multnomah County, OR is worth $496,807, about the same as a year ago. That is slightly below what local incomes have historically supported: fair value is about $544,932, so the area is 8.8% undervalued. It is a balanced market, leaning toward buyers: homes take about 70 days to sell, listings are up 4% from a year ago, 31% of listings have had a price cut. Zillow expects prices to fall about 0.1% over the next year. A household needs about $107,697 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,423. Typical rent is $1,683 a month, or $2,514 for a house. In the latest IRS figures, 5,611 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$496,807
Change in 1 year
+0.2%
Overvalued %
−8.8%
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Fair home value
$544,932
Change in 5 years
−0.9%
Zillow forecast, next 12 months
−0.1%
Home value to income
5.5×
Monthly mortgage payment (20% down)
$2,692
Income needed to afford it
$107,697
Property tax rate
0.96%
Rent and investing
Typical rent
$1,683
Typical rent for houses
$2,514
Price-to-rent ratio
24.6×
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HUD Fair Market Rent, 2 bedrooms
$1,878
Gross rental yield
4.06%
Cap rate (estimate)
2.64%
Market activity
Listings vs a year ago
+4.0%
Days on market
70
Listings with a price cut
30.6%
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Homes for sale
2,680
Pending sales per 100 listings
26
Asking price per sq ft
$307
People and jobs
Median household income
$90,423
Population change (1 year)
+0.1%
Unemployment rate
5.7%
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Population
795,391
Income adjusted for cost of living
$85,790
Net moves in (IRS)
−5,611
Cost of living (US = 100)
105.4
Schools, risk and environment
School rating (1 to 10)
5.4
FEMA hazard risk score (0 to 100)
98.5
Unhealthy air days a year
0
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Flood risk score
95.5
Wildfire risk score
67.3
Walkability (1 to 20)
15.2
Road, rail and air noise
53 dB
Questions people ask
Is Multnomah County, OR overvalued?
Home prices in Multnomah County, OR are slightly below what local incomes have historically supported: fair value is about $544,932, so the area is 8.8% undervalued.
Is Multnomah County, OR a buyer's or seller's market?
Multnomah County, OR is a balanced market, leaning toward buyers: homes take about 70 days to sell, listings are up 4% from a year ago, 31% of listings have had a price cut.
Are home prices going down in Multnomah County, OR?
Home values in Multnomah County, OR are up 0.2% over the last year. Zillow's forecast for the next 12 months is −0.1%.
How much do you need to earn to buy a home in Multnomah County, OR?
A household needs about $107,697 a year to afford the typical home in Multnomah County, OR at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $90,423.