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 13,482 people, 5,059 houses or apartments, and a median cost of homes of $297,089, 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 73.52% of the city's housing units. Other types of housing that are prevalent in Portland include duplexes, homes converted to apartments or other small apartment buildings ( 9.04%), mobile homes or trailers ( 8.75%), and a few large apartment complexes or high rise apartments ( 7.12%).
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 61.64% owning and 38.36% renting.
There is a lot of housing in Portland built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Portland built between 2000 and later ( 32.40%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.35%). There's also some housing in Portland built before 1939 ( 4.18%).
In the last 10 years, Portland has experienced some of the highest home appreciation rates of any community in the nation. Portland real estate appreciated 137.82% over the last ten years, which is an average annual home appreciation rate of 9.05%, putting Portland in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Portland definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 4.02%, 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 1.16%, which equates to an annual appreciation rate of 4.72%.
Relative to Tennessee, our data show that Portland's latest annual appreciation rate is lower than 80% of the other cities and towns in Tennessee.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Portland differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Portland - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Portland real estate investment or home purchase decisions.
$297,089
for Tennessee
for nation
5,059
$1,657 / per month