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Market Intelligence · OR / Portland

Portland, OR 97227 Housing Market

The typical home value in Portland's 97227 ZIP code is $548,829 as of September 2026, down 2.2% over the past year. The median list price stands at $466,250, and homes are spending a median of 83 days on market.

Updated September 2026Median value$549K

The median home value in Portland, OR 97227 is $549K as of September 2026, down 2.2% 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 97227 range

$505K to $593K

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

-2.2% over 12 months

Typical home value in 97227 over the last 12 months: $561K in Sep 2025 to $549K in Sep 2026 (-2.2%).

Sep 2025$561K

Sep 2026$549K

The numbers

What is the 97227 housing market like?

Typical home value

$549K

Down2.2%YoY

Median list price

$466K

Up12.3%MoM

Days on market

83

Up13.7%MoM

Homes for sale

14

Down6.7%MoM

Price cuts

54.5%

Up117.9%MoM

New listings

4

Flat0.0%MoM

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

The outlook

97227 housing market forecast 2027

-0.6%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 97227 to fall 0.6% by September 2027.

Over the 12 months through September 2026, typical home values in 97227 fell 2.2%, per the Zillow Home Value Index.

Will home prices drop in 97227?

Zillow's forecast says they may: it expects typical home values in 97227 to fall 0.6% by September 2027, after a 2.2% 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 97227 home prices compare?

  • 97227$548,829
  • 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

Sellers in 97227 are adjusting expectations. The typical home value of $548,829 is down 2.2% over the past year, and the median list price of $466,250 sits well below that figure. Homes are taking a median of 83 days to sell, and more than half of listings, 54.5%, have taken a price cut. Inventory is thin, with just 14 homes for sale and 4 new listings as of September 2026. For a seller, this means pricing realistically from day one matters more than testing the market.

Monthly payment

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20% · $109,766

Common questions

What people ask us.

How much is a home in 97227 worth?

The typical home value in 97227 is $548,829 as of September 2026, down 2.2% over the past year.

How long does it take to sell a home in 97227?

Homes in 97227 are spending a median of 83 days on market as of September 2026. More than half of listings, 54.5%, have had a price cut.

How many homes are for sale in 97227?

There are 14 homes for sale in 97227 as of September 2026, with 4 new listings.

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