Multnomah Village, Portland, OR—97219
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Multnomah Village, Portland, OR
As of Oct '25, the median home price in Multnomah Village, Portland, OR is $620,000, with a year-over-year change of -1.1%. This indicates that home prices in Multnomah Village, Portland, OR are decreasing. 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 | $620,000 | -1.1% |
| Single Family | $634,000 | -1.6% |
| Condos | $297,000 | -3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $349,000 | -1.7% |
2 Bed | $457,000 | -2.1% |
3 Bed | $591,000 | -1.5% |
4 Bed | $749,000 | -1.6% |
| 5 Bed | $894,000 | -1.4% |
% of Housing Stock
Rental Trends — Multnomah Village, Portland, OR
As of July '25, Rentcast reports the average rent in Multnomah Village, Portland, OR is $1,930, with a year-over-year rent change of -4.5%. Per bedroom, the median rent as of July '25 in Multnomah Village, Portland, OR is studios: $1,390, 1-bedrooms: $1,220, 2-bedrooms: $1,950, 3-bedrooms: $2,690, 4-bedrooms: $3,790. The most common rental property sizes in Multnomah Village, Portland, OR are 2-bedroom and 1-bedroom, accounting for 42.4% and 22.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,650 | $1,930 |
| Studio Rent | $1,450 | $1,390 |
| 1 Bed Rent | $1,200 | $1,220 |
| 2 Bed Rent | $1,720 | $1,950 |
| 3 Bed Rent | $2,700 | $2,690 |
| 4 Bed Rent | $3,700 | $3,790 |
% of Rental Stock
Property Listings — Multnomah Village, Portland, OR
As of Oct '25, Realtor.com reports that the median days on market for a home in Multnomah Village, Portland, OR is 65. This is a increase of 1.0% from last year, suggesting that homes are sitting on the market about the same amount of time than last year. The percentage of listed homes with a reduced price is 39.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $677,000 | -3.0% |
Listing Count | 209 | -4.0% |
| Listings as % of Homes | 0.5% | -4.0% |
Days on Market | 65 | 1.0% |
Demographics — Multnomah Village, Portland, OR
As of the latest ACS Survey released in 2023, Multnomah Village, Portland, OR has a population of 43,100, which has remained stable by 0.7% over the past 5 years. Multnomah Village, Portland, OR is a moderately popular place for families, as children make up 20.0% of the population. The area has a highly educated workforce, with 66.1% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 26.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 43,100 | 0.7% |
% Under 18 | 20.0% | -2.4% |
% Seniors | 18.1% | 34.1% |
% WFH | 26.4% | 187.0% |
% w/ College Degree | 66.1% | -2.1% |
As of the latest ACS Survey released in 2023, Multnomah Village, Portland, OR is a predominantly white area, with 74.2% of the population identifying as white. The white population has shrunk by 11.1% in the last 5 years. The second most common race or ethnicity in Multnomah Village, Portland, OR is hispanic, making up 9.0% of the population. Foreign-born residents account for 8.2% of the population in Multnomah Village, Portland, OR, and this percentage has increased by 2.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 74.2% | -11.1% |
% Black | 2.9% | -14.7% |
% Hispanic | 9.0% | 125.0% |
% Asian | 5.6% | 60.0% |
% Foreign Born | 8.2% | 2.5% |
Mortgage and Risk — Multnomah Village, Portland, OR
According to HUD data as of 2023, there were 715 mortgage originations in Multnomah Village, Portland, OR, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 16.0% above 90% LTV (elevated). This implies medium mortgage risk in Multnomah Village, Portland, OR. Investor activity is low, as 1.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 715 |
% Conventional Loans | 93.0% |
% Government Loans | 7.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Multnomah Village, Portland, OR
As of 2024, the percent of homes in Multnomah Village, Portland, OR under the Section 8 program is 6.4%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Multnomah Village, Portland, OR, because HUD payments exceed market rent, while 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 360 |
Total Units Section 8 | 337 |
% Rentals under Section 8 | 6.4% |
% Occupied Section 8 | 85.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $660 | $1,200 | $1,860 |
| 2 Bedroom | $400 | $1,720 | $2,120 |
| 3 Bedroom | $210 | $2,700 | $2,910 |
| 4 Bedroom | -$290 | $3,700 | $3,410 |
Affordability — Multnomah Village, Portland, OR
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.4 |
| Median Home Price | $620,000 |
| Median Household Income | $116,000 |