Thinking about moving to Portland?
Portland is a city that needs no introduction, but we’ll give it one anyway: as the sacred city of America’s counterculture, Portland has been attracting beats, burnouts, hippies, artists, and yes, hipsters, for generations.
But culture has never been the only reason to move to Portland, which also boasts fantastic access to nature, great schools, a temperate climate, and a robust creative economy. These perks have attracted waves of new residents moving to Portland: between 2010 and 2016, more than 56,087 people have moved to Portland, an increase of 9.6%.
Portland is home to 639,863 Portlanders. With an area of 133.4 square miles, Portland has a population density of 4,797 persons per square mile, which makes it more dense than many other cities of comparable size.
The Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area boasts a population of 2,424,955 people, of which Portland proper’s population makes up 26%.
Portland’s growth and desirability come at a major cost: housing is pricey. The median home value in Portland is $419,100, 109% above the US median value, according to Zillow. The median price per square foot in Portland is $337. Over the past 5 years, home values in Portland have increased by 12%.
Renters in Portland will also have a hard time finding affordable housing. The median rent in Portland is $1,895 per month, which is 33% higher than the US median. Over the past year, rental rates in Portland have increased by 3.9%.
Portland’s economy is growing strong. The Portland metro area’s GDP grew by 12% between 2010 and 2015, from $141 billion in 2010 to $159 billion in 2015, a total increase of $18 billion. The metro area has a per capita GDP of $65,473. According to the US Census Bureau, the median household income in Portland, OR is $60,286, 21% higher than the national median. Portland’s unemployment rate is 3.9%.