Buy vs Rent in Portland, OR (2026)
Median home price $490K · 1BR rent $1,900/mo · Price-to-rent ratio 21.5x.
Median home price
$490K
1BR rent
$1,900/mo
Price-to-rent ratio
21.5x
Verdict
Rent signal
Monthly cost of buying — 3 scenarios
30-year mortgage at 7% · Includes property tax, insurance, and maintenance estimates
| 3.5% down (FHA) | 10% down | 20% down (conventional) | |
|---|---|---|---|
| Down payment | $17,150 | $49,000 | $98,000 |
| Mortgage (P&I) | $3,146/mo | $2,934/mo | $2,608/mo |
| Property tax (est.) | $449/mo | $449/mo | $449/mo |
| Insurance (est.) | $204/mo | $204/mo | $204/mo |
| Maintenance (est.) | $408/mo | $408/mo | $408/mo |
| Total monthly cost | $4,207vs rent: +$2,307/mo | $3,995vs rent: +$2,095/mo | $3,669vs rent: +$1,769/mo |
| Income to qualify | $134,829/yr | $125,743/yr | $111,771/yr |
| Break-even (approx.) | ~1 yrs | ~2 yrs | ~5 yrs |
Portland housing context
$75K
Median HH income
per year
$111,771
Income needed (20% down)
per year
+$37K
Affordability gap
vs median income
Frequently asked questions
Is it better to buy or rent in Portland?
With a price-to-rent ratio of 21.5x, renting is often more cost-effective in Portland in the short term. Buying makes more sense if you plan to stay 7+ years and can make a larger down payment.
How much do I need to earn to buy a home in Portland?
With a median home price of $490K in Portland, you'd need an annual income of roughly $111,771 to qualify with 20% down (at 7% rate, 28% housing ratio). With 10% down, you'd need about $125,743/year.
Portland full cost of living breakdownCheaper cities near PortlandHow much to retire in PortlandCompare mortgage rates
Mortgage at 7% 30-yr fixed · Property tax 1.1% est. · Maintenance 1% est. · Zillow, BLS · Q1 2026 · For general guidance only