The city of Portland is the most largely populated city in the state of Oregon and is situated in the North West portion of the United States. It is located near the Columbia and Willamette rivers. Portland maintains a population of about 582,000 individuals, making it one of the most popular cities in the nation. Over two million individuals reside in the metropolitan area surrounding Portland. Portland is an important economic center within the Pacific Northwest.
There are many micro distilleries and microbreweries located throughout the state, and it has played a large role in the spread of gourmet coffee. In addition, Portland is considered to be the most environmentally considerate city in the country, making notable efforts to protect and maintain the environment. Portland offers residents will many advantageous and desirable features, which has caused many individuals to seek Portland real estate.
In terms of cost, Portland property is slightly above the national average. When compared to other Oregon property, such as coastal homes, Portland property is relatively affordable. The median coast of Portland real estate is around $265,000, while the average asking price for homes in the city is around $409,000.
There are many different types of neighborhoods within Portland, and therefore, real estate prices will vary significantly based upon the location in which an individual is searching. For example, in popular Portland neighborhoods, such and Laurelhurst and Southwest Hills, an individual will be required to pay well over $600,000 for property, with some real estate listed for more than one million dollars. It is common for investors to purchase Portland investment property, which is subsequently rented to tenants or fixed and sold.