ZIP 97223 Housing Market Report
Portland Metro
Report period: March 2026
97223 Monthly Market Update – March 2026
ZIP 97223 · Last updated Mar 12, 2026 · Data range Oct 2025 – Mar 2026
Executive Snapshot
Median Sale Price
$579,000
0.0%
Median DOM (Sales)
31
−16.2%
New Listings (Sales)
13
−64.9%
Median Rent
$1,550
0.0%
Median DOM (Rental)
1
0.0%
Total Rental Listings
269
−1.5%
Month-over-Month Movement
Median sale prices were flat. Days on market improved. Rents were stable. Rental inventory tightened.
What's Moving Fastest
- Fastest selling: Multi-Family (4 DOM)
- Fastest renting: Condo (1 DOM)
- Strongest bedroom: 6 Beds ($875,000 median)
Sales Market Overview
Median Price
$579,000
0.0%
Median DOM
31
−16.2%
New Listings
13
−64.9%
Inventory
164
−1.8%
- Average Price: $652,939
- Median Price: $579,000
- Price Range: $91,000 – $2,700,000
- Price per Sq Ft (Avg/Median): $319 / $301
- Square Footage (Avg/Median): 2,094 / 1,876
- Square Footage Range: 721 – 5,357
- Days on Market (Avg/Median): 70 / 31
- Days on Market Range: 1 – 343
- New Listings: 13
- Total Listings: 164
Sales by Property Type
Condo
Avg/Median Price$327,199 / $305,000Range$160,000 – $449,000Price per Sq Ft$298 / $279Sq Ft1,120 / 1,058DOM111 / 83New2Total18
Land
Avg/Median Price$1,013,571 / $550,000Range$91,000 – $2,700,000Price per Sq Ft—Sq Ft—DOM126 / 7New1Total7
Multi-Family
Avg/Median Price$579,000 / $579,000Range$579,000 – $579,000Price per Sq Ft$268 / $268Sq Ft2,160 / 2,160DOM4 / 4New0Total1
Single Family
Avg/Median Price$712,995 / $649,900Range$399,000 – $1,595,000Price per Sq Ft$328 / $304Sq Ft2,318 / 2,234DOM63 / 31New8Total121
Townhouse
Avg/Median Price$426,234 / $408,000Range$261,000 – $579,000Price per Sq Ft$283 / $275Sq Ft1,527 / 1,464DOM65 / 27New2Total17
Sales by Bedroom Count
2 Beds
Avg:$378,306Median:$399,000Range:$160,000 – $699,000PSF:$339 / $328Sq Ft:1,137 / 1,068DOM:95 / 57New:1Total:28
3 Beds
Avg:$575,614Median:$539,000Range:$285,000 – $1,595,000PSF:$349 / $338Sq Ft:1,693 / 1,554DOM:44 / 27New:7Total:58
4 Beds
Avg:$752,854Median:$700,000Range:$439,000 – $1,570,000PSF:$293 / $291Sq Ft:2,581 / 2,562DOM:77 / 33New:2Total:55
5 Beds
Avg:$934,809Median:$845,000Range:$650,000 – $1,375,000PSF:$277 / $256Sq Ft:3,477 / 3,467DOM:71 / 23New:2Total:11
6 Beds
Avg:$863,780Median:$875,000Range:$799,900 – $900,000PSF:$242 / $238Sq Ft:3,693 / 3,697DOM:103 / 53New:0Total:5
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| 2 Beds | $378,306 | $399,000 | $160,000 – $699,000 | $339 / $328 | 1,137 / 1,068 | 95 / 57 | 1 | 28 |
| 3 Beds | $575,614 | $539,000 | $285,000 – $1,595,000 | $349 / $338 | 1,693 / 1,554 | 44 / 27 | 7 | 58 |
| 4 Beds | $752,854 | $700,000 | $439,000 – $1,570,000 | $293 / $291 | 2,581 / 2,562 | 77 / 33 | 2 | 55 |
| 5 Beds | $934,809 | $845,000 | $650,000 – $1,375,000 | $277 / $256 | 3,477 / 3,467 | 71 / 23 | 2 | 11 |
| 6 Beds | $863,780 | $875,000 | $799,900 – $900,000 | $242 / $238 | 3,693 / 3,697 | 103 / 53 | 0 | 5 |
Rental Market Overview
Median Rent
$1,550
0.0%
Median DOM
1
0.0%
New Listings
89
Inventory
269
−1.5%
- Average Rent: $1,797
- Median Rent: $1,550
- Rent Range: $995 – $5,500
- Rent per Sq Ft (Avg/Median): $2 / $2
- Square Footage (Avg/Median): 962 / 825
- Square Footage Range: 270 – 4,228
- Days on Market (Avg/Median): 50 / 1
- Days on Market Range: 1 – 364
- New Listings: 89
- Total Listings: 269
Rentals by Property Type
Apartment
$1,474
Median DOM: 21
Inventory: 170
MoM: 0.0%
Condo
$1,295
Median DOM: 1
Inventory: 35
MoM: 0.0%
Single Family
$2,695
Median DOM: 1
Inventory: 61
MoM: 0.0%
Townhouse
$1,895
Median DOM: 1
Inventory: 2
MoM: 0.0%
Apartment
Avg/Median Rent$1,531 / $1,474Range$995 – $3,499Rent per Sq Ft$2 / $2Sq Ft801 / 756DOM72 / 21New40Total170
Condo
Avg/Median Rent$1,553 / $1,295Range$1,195 – $3,800Rent per Sq Ft$2 / $2Sq Ft839 / 825DOM11 / 1New22Total35
Multi-Family
Avg/Median Rent$2,395 / $2,395Range$2,395 – $2,395Rent per Sq Ft$2 / $2Sq Ft1,112 / 1,112DOM1 / 1New1Total1
Single Family
Avg/Median Rent$2,639 / $2,695Range$1,200 – $5,500Rent per Sq Ft$2 / $2Sq Ft1,478 / 1,300DOM12 / 1New25Total61
Townhouse
Avg/Median Rent$2,695 / $1,895Range$1,895 – $3,495Rent per Sq Ft$2 / $2Sq Ft1,597 / 1,597DOM1 / 1New1Total2
Rentals by Bedroom Count
Studio
Avg:$1,488Median:$1,469Range:$995 – $1,859PSF:$3 / $3Sq Ft:471 / 455DOM:47 / 1New:4Total:12
1 Beds
Avg:$1,442Median:$1,329Range:$1,099 – $2,950PSF:$2 / $2Sq Ft:673 / 660DOM:81 / 17New:23Total:89
2 Beds
Avg:$1,602Median:$1,545Range:$1,211 – $2,795PSF:$2 / $2Sq Ft:936 / 900DOM:40 / 1New:40Total:116
3 Beds
Avg:$2,749Median:$2,695Range:$1,595 – $5,500PSF:$2 / $2Sq Ft:1,330 / 1,281DOM:27 / 1New:18Total:39
4 Beds
Avg:$3,262Median:$2,999Range:$2,895 – $3,975PSF:$1 / $1Sq Ft:2,346 / 2,056DOM:5 / 1New:3Total:11
5 Beds
Avg:$4,175Median:$4,100Range:$4,100 – $4,250PSF:$1 / $1Sq Ft:3,323 / 2,418DOM:8 / 1New:1Total:2
| Beds | Avg | Median | Range | Avg/Med PSF | Avg/Med Sq Ft | Avg/Med DOM | New | Total |
|---|---|---|---|---|---|---|---|---|
| Studio | $1,488 | $1,469 | $995 – $1,859 | $3 / $3 | 471 / 455 | 47 / 1 | 4 | 12 |
| 1 Beds | $1,442 | $1,329 | $1,099 – $2,950 | $2 / $2 | 673 / 660 | 81 / 17 | 23 | 89 |
| 2 Beds | $1,602 | $1,545 | $1,211 – $2,795 | $2 / $2 | 936 / 900 | 40 / 1 | 40 | 116 |
| 3 Beds | $2,749 | $2,695 | $1,595 – $5,500 | $2 / $2 | 1,330 / 1,281 | 27 / 1 | 18 | 39 |
| 4 Beds | $3,262 | $2,999 | $2,895 – $3,975 | $1 / $1 | 2,346 / 2,056 | 5 / 1 | 3 | 11 |
| 5 Beds | $4,175 | $4,100 | $4,100 – $4,250 | $1 / $1 | 3,323 / 2,418 | 8 / 1 | 1 | 2 |
6-Month Sales Trend
Oct 2025
Median Price:$585,000Median DOM:56New:49Total:240
Nov 2025
Median Price:$580,000Median DOM:60New:31Total:216
Dec 2025
Median Price:$595,000Median DOM:69New:14Total:166
Jan 2026
Median Price:$579,000Median DOM:57New:45Total:155
Feb 2026
Median Price:$579,000Median DOM:37New:37Total:167
Mar 2026
Median Price:$579,000Median DOM:31New:13Total:164
6-Month Rental Trend
Oct 2025
Median Rent:$1,639Median DOM:1New:107Total:257
Nov 2025
Median Rent:$1,600Median DOM:2New:93Total:246
Dec 2025
Median Rent:$1,600Median DOM:1New:112Total:239
Jan 2026
Median Rent:$1,595Median DOM:1New:121Total:254
Feb 2026
Median Rent:$1,550Median DOM:1New:122Total:273
Mar 2026
Median Rent:$1,550Median DOM:1New:89Total:269
Key Market Takeaways
Median sale prices held steady this month while inventory compressed. Days on market declined, signaling improving buyer activity. Rental pricing remained stable, while total rental inventory tightened.
Market data is only valuable if you act on it. With pricing stabilizing and days on market shifting, this is the type of environment where disciplined investors find their edge.
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