97233, Portland, OR

The 97233 zip code of Portland, OR is located in the northwestern part of the city and has a population of about 228,000. The median home value in this zip code is $282,500 which is about $100,000 more than the median home value in Oregon as a whole. The percentage of homes that are owner-occupied in this zip code is about 78%, which is higher than the statewide average of 65%.

One reason that home values are higher in this zip code than statewide is because there are more affluent residents here. About one-third of households earning over $150,000 per year live in this zip code, which is much higher than the statewide average of just under 10%. Additionally, there are a number of large corporations headquartered in this area, such as Nike and Intel. This has led to an influx of high-paying jobs and increased demand for housing.

Despite these factors, there have been some concerns raised about the stability of home prices here. In recent years, there has been an increase in foreclosures and short sales – two indicators that suggest that homeowners may not be able to sell their homes at current prices. Additionally, although incomes have increased overall since 2007 (the last time comparable data was available), wages haven’t kept pace with inflation meaning that people may not have enough money left over after paying their mortgages and other bills to buy a house outright. As long as these trends continue it will be difficult for homeowners to see significant gains on their investments over time.