Market Intelligence · OR / Portland

Portland, OR 97221 Housing Market

The typical home value in Portland's 97221 ZIP code is $745,874, up 1.0% over the past year as of September 2026. The median list price sits at $1,082,500, and homes are spending a median of 79 days on market.

Updated September 2026Median value$746K

The median home value in Portland, OR 97221 is $746K as of September 2026, up 1.0% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 97221 range

$686K to $806K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.0% over 12 months

Sep 2025$739K

Low $739KHigh $749K

Sep 2026$746K

The numbers

What is the 97221 housing market like?

As of September 2026

Typical home value

$746K

1.0%YoY

Median list price

$1.08M

1.6%MoM

Days on market

21.5%MoM

Homes for sale

4.7%MoM

Price cuts

46.1%

44.2%MoM

New listings

20.0%MoM

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026) / FRED (October 2026)

The outlook

97221 housing market forecast 2027

-0.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97221 to stay roughly flat by September 2027 (down 0.2%).

Over the 12 months through September 2026, typical home values in 97221 rose 1.0%, per the Zillow Home Value Index.

Will home prices drop in 97221?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 97221 to stay roughly flat by September 2027 (down 0.2%), after a 1.0% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 97221 home prices compare?

97221$745,874
Portland$547,291
Oregon$456,438
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Portland: 32 ZIPs; Oregon: 339 ZIPs; United States: 26,262 ZIPs).

Context

As of September 2026, there were 67 homes for sale in 97221, with 16 new listings coming on during the period. The median list price of $1,082,500 runs well above the typical home value of $745,874, suggesting the active inventory skews toward larger or higher-end properties. Sellers are waiting a median of 79 days for a buyer, and 46.1% of listings have taken a price cut. Home values are up only 1.0% over the past year. For a seller, the honest read is that pricing accurately from the start matters more than testing the top of the market.

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Common questions

What people ask us.

How much is a home in 97221 worth?

The typical home value in 97221 is $745,874 as of September 2026, up 1.0% over the past year.

How long does it take to sell a home in 97221?

Homes in 97221 are spending a median of 79 days on market as of September 2026, and 46.1% of active listings have had a price cut.

What are homes in 97221 listed for?

The median list price in 97221 is $1,082,500 as of September 2026, with 67 homes for sale and 16 new listings.

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