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Neighborhoods in Portland, Oregon with the most expensive home sales

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June 3, 2022
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Neighborhoods in Portland, Oregon with the most expensive home sales

After home prices climbed by a record-setting 16.9% nationwide in 2021, the market was met with another stunning statistic in April 2022: 11 American metros now have a median home sold price of more than $500,000. The half-million dollar average sale price metric comes from an OJO Labs survey of March home sales. Nationwide, the median sales price of a home reached $392,750 as of mid-April 2022.

In historically wealthy cities and those with more modest home prices, the trajectory is the same: Prices keep going up even as mortgage rates spike. Causes for the price jumps are mirrored across the country. A long-term housing shortage that began after the Great Recession was exacerbated by supply chain disruptions that made it harder to source construction material, which affected virtually all housing markets. Another factor that has driven up prices is the rise of investors that have entered the market. In many regions including Charlotte, North Carolina, investment firms are buying up huge swaths of single-family homes.

In smaller cities and towns, traditionally lower population numbers were met with a swell of households moving away from big cities during the coronavirus pandemic, driving competition up for housing. Record-low mortgage rates were another reason for an exploding number of buyers, although rising rates don’t seem to be doing much to slow bidding wars in many metros.

Real estate platform ZeroDown analyzed its data on home listings to determine the most expensive neighborhood in Portland, Oregon, based on homes sold between March 18, 2022 and April 18, 2022. Neighborhoods are ranked by the median home price per square foot.

Read on to see your city’s most expensive neighborhoods or see the national story which features neighborhoods in 20 metros here.

#10. Crestwood
- Median Home Price: $612,316 ($428 per square foot)
- Median Rent: N/A
- Population: N/A
- Walk Score: 30
- Bike Score: 43
- Transit Score: 39

#9. Hillside
- Median Home Price: $924,496 ($437 per square foot)
- Median Rent: $1,273
- Population: 1,270
- Walk Score: 2
- Bike Score: 45
- Transit Score: 44

#8. Northwest District
- Median Home Price: $240,146 ($438 per square foot)
- Median Rent: $1,349
- Population: 12,683
- Walk Score: 95
- Bike Score: 98
- Transit Score: 57

#7. Eastmoreland
- Median Home Price: $969,954 ($438 per square foot)
- Median Rent: $1,761
- Population: 5,739
- Walk Score: 52
- Bike Score: 91
- Transit Score: 45

#6. Goose Hollow
- Median Home Price: $399,914 ($442 per square foot)
- Median Rent: $1,181
- Population: 4,878
- Walk Score: 92
- Bike Score: 83
- Transit Score: 83

#5. Pearl District
- Median Home Price: $500,320 ($504 per square foot)
- Median Rent: $1,245
- Population: 6,678
- Walk Score: 98
- Bike Score: 99
- Transit Score: 84

#4. Willamette Heights
- Median Home Price: $584,788 ($546 per square foot)
- Median Rent: $1,336
- Population: 5,006
- Walk Score: 8
- Bike Score: 16
- Transit Score: 35

#3. Healy Heights
- Median Home Price: $2,523,114 ($591 per square foot)
- Median Rent: $1,230
- Population: 202
- Walk Score: 14
- Bike Score: 51
- Transit Score: 44

#2. Arlington Heights
- Median Home Price: $1,824,843 ($592 per square foot)
- Median Rent: $1,214
- Population: 2,165
- Walk Score: 8
- Bike Score: 49
- Transit Score: 56

#1. Eliot
- Median Home Price: $740,443 ($597 per square foot)
- Median Rent: $1,304
- Population: 4,570
- Walk Score: 82
- Bike Score: 86
- Transit Score: 71

This story originally appeared on ZeroDown and was produced and distributed in partnership with Stacker Studio.

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