Market Intelligence · OR / Portland

Portland, OR 97227 Housing Market

The typical home in Portland's 97227 ZIP code is worth $565,135, down 3.3% over the past year. The median list price is $415,000, and homes are spending a median of 73 days on market. That points to a slower market that favors buyers more than sellers.

Updated August 2026Median value$553K

The median home value in Portland, OR 97227 is $553K as of August 2026, down 2.7% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 97227 range

$509K to $597K

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

-2.7% over 12 months

Typical home value in 97227 over the last 12 months: $568K in Aug 2025 to $553K in Aug 2026 (-2.7%).

Aug 2025$568K

Aug 2026$553K

The numbers

What is the 97227 housing market like?

Typical home value

$553K

Down2.7%YoY

Median list price

$415K

Down17.8%MoM

Days on market

73

Up10.6%MoM

Homes for sale

15

Flat0.0%MoM

Price cuts

25.0%

Flat0.0%MoM

New listings

4

Up100.0%MoM

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

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The comparison

How do 97227 home prices compare?

  • 97227$553,029
  • Portland$550,740
  • Oregon$458,140
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Portland: 32 ZIPs; Oregon: 339 ZIPs; United States: 26,265 ZIPs).

Context

There were 15 homes for sale in 97227 as of 2026-08-01, with 4 new listings coming on. Inventory is thin, but buyers are not rushing. The median list price is $415,000, and the median home sits for 73 days on market. Meanwhile, 25.0% of active listings have taken a price cut, and typical values slipped 3.3% over the past year, landing at $565,135. Sellers here can still find buyers, but the leverage has shifted, and pricing realistically from the start matters more than it did recently.

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