Rent vs buy in Portland, OR
In Portland, Oregon, typical rent is $1,719 a month and typical home value is $524,318.
Over 7 years, renting comes out $82k ahead.
These results use Portland's typical rent and home value, a 20% down payment and today's mortgage rate. The break-even point is year 24.
This is an opinion, clearly labeled, with the math shown. It provides estimates rather than quotes. If you change a number, the stamp changes with it.
- Amount by which renting is ahead
- $82k after 7 years
- Point where costs balance
- Year 24 when owning catches up
- The real cost of ownership
- $4,546 each month year 1, against $1,719 rent
Change my numbers
Portland's typical rent and the typical home value are what the stamp uses. Your rent, price and time period can change the result.
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Is it cheaper to rent or buy in Portland?
Across 7 years, renting costs $81,710 less when you include the money you receive when you sell. Renting costs less during the first 23 years. In year 24, owning catches up.
The renting choice. The owning choice. Net cost through each year
In Portland: average rent compared with mortgage payment
Rent and the mortgage don't tell the whole story. Here's every monthly cost for year 1 based on Portland's typical home price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $1,719 | All of it, every month |
| Mortgage payment | $2,859 | $2,520 of it is interest in year 1 |
| Property tax | $433 | 0.99% of the value a year |
| Insurance | $86 | Census median for the city |
| Upkeep | $437 | 1% of the value a year |
| Owning, cash out | $3,814 | $339 of it builds equity |
| Lost return on the down payment | $852 | That cash would earn 8.3% each year |
| Buying costs, spread out | $218 | 3.5% of the price over 7 years |
| True cost of owning | $4,546 | Cash out, with the equity part removed, plus the two lines above |
Portland figures behind the verdict
- Typical home valueHome values from Zillow, ZHVI, September 2026
- $524,318
- Typical rentRent data from Zillow, ZORI, September 2026
- $1,719 each month
- With a 20% down payment you skip private mortgage insurance, which the model doesn't include
- 20%
- Growth in home pricesFHFA house price index, Oregon, 1995 through 2025
- 4.9% yearly
- Rent growth: For 2006 to 2026: yearly CPI growth in primary-residence rent
- 3.5% each year
- Savings return: 60% S&P 500 with dividends, 40% 10-year Treasuries, 1928 to 2025, rebalanced yearly
- 8.3% yearly
- Property tax: Source: Census ACS 2020-2024, Portland
- 0.99% of the value
- Home insurance: Source: Census ACS 2020-2024, Portland
- $86 each month
- Maintenance: Fannie Mae: 1% to 4%, using the low end
- Each year: 1% of the value.
- Costs of buying: Freddie Mac, midpoint of the 2% to 5% range
- Buying costs come to 3.5% of price.
- Costs when selling: An agent’s commission and closing costs
- 6% of the price
What would reverse the result in Portland?
Every line shows the threshold that changes Portland's 7-year result, while all other inputs remain unchanged.
Renting comes out ahead when
- A yearly home price growth rate under 6.7% meets this condition. We use Oregon's long-run rate of 4.9%.
- If the mortgage rate remains above 4.45%, this condition is met.
- A similar property has monthly rent below $2,590. The typical figure here is $1,719.
- You move before the start of year 24.
Buying comes out ahead when
- Home prices increase by more than 6.7% a year.
- Locking a mortgage rate below 4.45% is the condition; today's rate is 7.24%.
- For the same home, monthly rent would exceed $2,590.
- You remain for 24 years or more.
Portland compared with the other 812 cities
| Measure | Portland | Median city |
|---|---|---|
| Typical home value | $524,318 | $422,451 |
| Typical rent | $1,719 /mo | $1,837 /mo |
| Price-to-rent ratio | 25.4 (#134 of 813) | 18.5 |
| Home prices, last 10 years | 2.4% a year | 6.2% a year |
| Rents, last 5 years | 2.3% a year | 4% a year |
| Property tax | 0.99% | 0.87% |
| Households that rent | 48% | 42% |
Source data: Zillow's ZHVI and ZORI, Census ACS 2020-2024.
More Oregon cities
- Rent. Hillsboro, OR. Renting comes out ahead by $44k.
- Rent. Beaverton, OR. Renting comes out ahead by $65k.
- Rent. Corvallis, OR. Renting comes out ahead by $93k.
- In Tigard, OR, renting comes out ahead by $102k, so choose rent.