Oregon

Home prices in Oregon and Portland: median value and trend

Median owner-occupied home value: $507,900 in Oregon and $548,800 in Portland (Census ACS 2025). FHFA: Oregon prices up 0.3% in a year.

Checked on against the official sources listed at the bottom of the page.

In short

The median value of owner-occupied homes is $507,900 in Oregon and $548,800 in the city of Portland, against $371,100 nationwide (Census ACS 2025). On the FHFA index, Oregon prices up 0.3% and Portland–Vancouver–Hillsboro prices down 0.7% from Q2 2025 to Q2 2026.

What it costs: median value in 2025

AreaMedian value, 2025Margin of error (90%)
United States$371,100±$646
Oregon$507,900±$4,066
Portland–Vancouver–Hillsboro, OR-WA metro area$575,500±$6,347
Multnomah County$536,400±$8,137
City of Portland$548,800±$13,046

Source: Census ACS 2025, table B25077; owners’ own estimates, not sale prices.

Three points stand out:

  • The Oregon median is $136,800 above the national median.
  • The city of Portland sits $40,900 above the Oregon median. It is $26,700 below the metro median, a gap larger than the margin of error of either estimate. The metro area includes Vancouver, Washington, and suburbs in several counties.
  • The city figure carries a margin of error of ±$13,046, so Portland’s true median is very likely between about $535,800 and $561,800.

How prices have moved: the FHFA index

FHFA’s release notes that the Pacific census division, which includes Oregon, recorded the slowest appreciation in the country, slightly above 0.0 percent.

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
United States+2.1%+33.4%
Oregon+0.3%+15.8%
Portland–Vancouver–Hillsboro metro area−0.7%+12.9%

Source: FHFA HPI, purchase-only, Q2 2026 (release of August 25, 2026); changes by Payotte.

Oregon home prices were almost flat over the past year, while the national index rose 2.1%. Over five years, Oregon gained about 16% and the Portland area about 13%, well below the nation’s 33.4%.

A worked example

Take a Portland-area home worth $340,000 in the second quarter of 2021. Tracking the Portland–Vancouver–Hillsboro index exactly, it would have been worth about $383,800 in the second quarter of 2026 (+12.9%). Over the last year alone, it would have lost about $2,400 (−0.7%). A single home can differ widely from the index.

How to use these figures when buying

Related: Oregon closing costs guide, buying a home in Portland and Oregon first-time buyer programs.

Method and dataset

ACS median value. ACS 1-Year 2025, table B25077. Geographies: United States (0100000US), Oregon (0400000US41), Portland–Vancouver–Hillsboro, OR-WA metro area (310M700US38900), Multnomah County (0500000US41051), Portland city (1600000US4159000). Values read from the Census Bureau’s ACS 2025 one-year summary file (table B25077) on November 4, 2026. The definition of value comes from the ACS 2025 Subject Definitions.

FHFA index. FHFA HPI (purchase-only, seasonally adjusted), state series (Oregon), metro series (Portland-Vancouver-Hillsboro, OR-WA, code 38900; the metro area is not split into divisions) and U.S. series. Index values used: Oregon 627.35 (Q2 2025), 543.15 (Q2 2021) and 629.17 (Q2 2026); Portland–Vancouver–Hillsboro 637.32, 560.63 and 632.78; United States 426.58, 326.58 and 435.69.

Frequently asked questions

What is the median home value in Oregon?

Oregon’s 2025 ACS median home value is $507,900 (±$4,066), against $371,100 for the nation: owners’ own estimates, not sale prices.

What is the median home value in Portland?

For the city of Portland, the 2025 ACS median value is $548,800 (±$13,046). Multnomah County is at $536,400 and the Portland–Vancouver–Hillsboro metro area at $575,500.

Are Oregon home prices going up or down?

FHFA’s purchase-only index shows Oregon prices rose 0.3% over the year to Q2 2026, and the Portland–Vancouver–Hillsboro area fell 0.7%. Over five years, they rose 15.8% and 12.9%.

How Oregon compares with the other States

At $507,900, Oregon ranks 8th of the 50 States for median home value, in the top ten and 37% above the national $371,100.

The States closest in median value are New Hampshire ($487,100) and New Jersey ($530,800). The range runs from $176,300 in West Virginia to $901,500 in Hawaii; Oregon is $161,400 above the middle of that ranking (Georgia).

On the FHFA index, Oregon prices rose 0.3% over the year to the second quarter of 2026, which places the State 46th of 50, 1.8 points behind the national +2.1%. Over five years the gain is +15.8% (50th of 50; nation +33.4%).

The two measures diverge: Oregon is among the dearest States, yet its prices rose less than most over the past year.

Over five years, Oregon's +15.8% annualises to +3% a year (nation +5.9%). The latest year (+0.3%) is 2.7 points under that average, a slower pace than the five-year average.

Portland, the main city, has a median of $548,800, 11th of the 49 main cities Payotte covers. That is 8% above the Oregon median, a premium that ranks 27th of 49.

The one-year FHFA change runs from -1.2% in New Mexico to +8.3% in Alaska. Oregon (+0.3%) is 8 points below the top and 1.5 above the bottom; North Carolina (+0.4%) and Texas (+0.5%) are the nearest to it.

For scale, 20% of the Oregon median is $101,580, against $74,220 at the national median.

Compare with the other states: Median home price by state.

More Oregon guides

Sources

Oregon · All states · Federal guides