Centennial, Portland, OR—97233
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Centennial, Portland, OR
As of Oct '25, the median home price in Centennial, Portland, OR is $395,000, with a year-over-year change of 0.7%. This indicates that home prices in Centennial, Portland, OR are flat. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $395,000 | 0.7% |
| Single Family | $402,000 | 0.5% |
| Condos | $237,000 | -1.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $253,000 | -3.8% |
2 Bed | $304,000 | -1.3% |
3 Bed | $395,000 | 0.8% |
4 Bed | $448,000 | 0.4% |
| 5 Bed | $482,000 | 1.0% |
% of Housing Stock
Rental Trends — Centennial, Portland, OR
As of July '25, Rentcast reports the average rent in Centennial, Portland, OR is $1,550, with a year-over-year rent change of -5.5%. Per bedroom, the median rent as of July '25 in Centennial, Portland, OR is studios: $1,090, 1-bedrooms: $1,220, 2-bedrooms: $1,470, 3-bedrooms: $2,180, 4-bedrooms: $2,760. The most common rental property sizes in Centennial, Portland, OR are 2-bedroom and 3-bedroom, accounting for 44.5% and 21.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,550 |
| Studio Rent | $1,040 | $1,090 |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,410 | $1,470 |
| 3 Bed Rent | $2,200 | $2,180 |
| 4 Bed Rent | $2,850 | $2,760 |
% of Rental Stock
Property Listings — Centennial, Portland, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Centennial, Portland, OR is 71. This is a increase of 69.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $406,000 | 1.0% |
Listing Count | 107 | 21.0% |
| Listings as % of Homes | 0.5% | 21.0% |
Days on Market | 71 | 69.0% |
Demographics — Centennial, Portland, OR
As of the latest ACS Survey released in 2023, Centennial, Portland, OR has a population of 37,500, which has decreased by -8.6% over the past 5 years. Centennial, Portland, OR is a moderately popular place for families, as children make up 23.4% of the population. The area has a poorly educated workforce, with 18.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 13.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,500 | -8.6% |
% Under 18 | 23.4% | -16.4% |
% Seniors | 11.4% | 23.9% |
% WFH | 13.2% | 230.0% |
% w/ College Degree | 18.5% | 48.0% |
As of the latest ACS Survey released in 2023, Centennial, Portland, OR is a predominantly white area, with 51.3% of the population identifying as white. The white population has grown by 4.3% in the last 5 years. The second most common race or ethnicity in Centennial, Portland, OR is hispanic, making up 23.3% of the population. Foreign-born residents account for 24.9% of the population in Centennial, Portland, OR, and this percentage has decreased by 16.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 51.3% | 4.3% |
% Black | 8.8% | -22.1% |
% Hispanic | 23.3% | 0.0% |
% Asian | 8.9% | -8.2% |
% Foreign Born | 24.9% | -16.2% |
Mortgage and Risk — Centennial, Portland, OR
According to HUD data as of 2023, there were 439 mortgage originations in Centennial, Portland, OR, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 40.0% above 90% LTV (very high). This implies large mortgage risk in Centennial, Portland, OR. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 439 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Centennial, Portland, OR
As of 2024, the percent of homes in Centennial, Portland, OR under the Section 8 program is 17.0%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Centennial, Portland, OR, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,216 |
Total Units Section 8 | 1,196 |
% Rentals under Section 8 | 17.0% |
% Occupied Section 8 | 82.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $400 | $1,200 | $1,600 |
| 2 Bedroom | $420 | $1,410 | $1,830 |
| 3 Bedroom | $330 | $2,200 | $2,530 |
| 4 Bedroom | $80 | $2,850 | $2,930 |
Affordability — Centennial, Portland, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.2 |
| Median Home Price | $395,000 |
| Median Household Income | $54,900 |