Market Intelligence · OR / Portland

Portland, OR 97224 Housing Market

As of September 2026, the typical home value in Portland, OR 97224 is $599,946, down 1.1% over the past year. The median list price is $638,213, and homes spend a median 64 days on market.

Updated September 2026Median value$600K

The median home value in Portland, OR 97224 is $600K as of September 2026, down 1.1% 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 97224 range

$552K to $648K

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

-1.1% over 12 months

Sep 2025$607K

Low $597KHigh $608K

Sep 2026$600K

The numbers

What is the 97224 housing market like?

As of September 2026

Typical home value

$600K

1.1%YoY

Median list price

$638K

1.8%MoM

Days on market

4.9%MoM

Homes for sale

177

5.4%MoM

Price cuts

30.8%

15.2%MoM

New listings

6.7%MoM

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

The outlook

97224 housing market forecast 2027

+0.1%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97224 to stay roughly flat by September 2027 (up 0.1%).

Over the 12 months through September 2026, typical home values in 97224 fell 1.1%, per the Zillow Home Value Index.

Will home prices drop in 97224?

Zillow's forecast does not point to a meaningful drop: it expects typical home values in 97224 to stay roughly flat by September 2027 (up 0.1%), after a 1.1% decline 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 97224 home prices compare?

97224$599,946
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

Portland, OR 97224 had 177 homes for sale as of September 2026, with 56 new listings entering the market. The median list price was $638,213, while the typical home value was $599,946, down 1.1% over the past year. A median 64 days on market points to a slower pace than a hot seller's market. The 30.8% share of listings with a price cut suggests some sellers are adjusting after testing too high. Sellers should price to the market rather than to memory.

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Down payment20% · $119,989

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Common questions

What people ask us.

How much is a home in 97224 worth?

As of September 2026, the typical home value in Portland, OR 97224 is $599,946, down 1.1% over the past year.

Are home prices rising in Portland, OR 97224?

No. Typical values are down 1.1% over the past year as of September 2026, and 30.8% of listings had a price cut.

How fast are homes selling in 97224?

Homes spent a median 64 days on market as of September 2026, with 177 homes for sale.

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