Rent to own Homes in Portland, OR
Nowhere on the entire West Coast will you find a city as vibrant, friendly, or even half as interesting as Portland, otherwise known as the City of Roses. The city's wacky atmosphere and friendly populace are the result of a peculiar confluence -- Portland's geographical location grants it easy accessibility all across the western seaboard, and the cost of living here is more forgiving than most American cities. Portland is hence able to play host to a multitude of diverse events, from regular exhibitions at Alberta Street's many galleries to the annual Santa Rampages cheered on by everyone but the law. The diversity of the local populace also makes the process of acclimatization relatively easier -- the city welcomes all new residents with open arms. It is only in Portland that you can start conversations with any number of random strangers and end up consistently surprised by what you end up hearing.
Portland, OR is a great place for affordable rent-to-own homes! With a median household income of over $73,159 and a median rent of $1,325, the Portland, OR rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Portland, OR. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
More Portland, OR Property Resources
Rent to own Homes in Cities Near Portland, OR
- Boring
- Cedar Hills
- Cedar Mill
- Cherry Grove
- Clackamas
- Donald
- Dundee
- Dunthorpe
- Durham
- Fairview
- Felida
- Forest Grove
- Garden Home-Whitford
- Gladstone
- Gresham
- Happy Valley
- Hazel Dell
- Hillsboro
- Hubbard
- Jennings Lodge
- Johnson City
- King City
- Lake Oswego
- Maywood Park
- Metzger
- Milwaukie
- Molalla
- Mulino
- Newberg
- Oak Grove
- Oak Hills
- Oatfield
- Oregon City
- Portland
- Raleigh Hills
- Ridgefield
- Rivergrove
- Rockcreek
- Scappoose
- Sherwood
- Stafford
- St. Helens
- St. Paul
- Tigard
- Troutdale
- Tualatin
- West Linn
- West Slope
- Wilsonville
- Woodburn
Neighborhoods in Portland, OR
Linnton rent to own homes Kenton rent to own homes Sunderland rent to own homes Bridgeton rent to own homes Cathedral Park rent to own homes East Columbia rent to own homes Portsmouth rent to own homes Hayden Island rent to own homes St. Johns rent to own homes Portland International Airport rent to own homesBuying a Home in Portland, OR
Portland, OR is seeing rapid growth and Portland, OR's' housing market remains not optimal with an average home price that is 102% above the 2024 national average. Portland, OR is part of Multnomah county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Multnomah is 0.99% which is equal to the national average, which is 0.99%.
Median Home Price in Portland, OR
Median Rent in Portland, OR
Top Reasons to Live in Portland OR
Housing Statistics The median home sale price currently sits roughly at the $300,000 mark - higher than in recent years, certainly, but slightly below the $305,000 precedent set in 2008-09. This recent rise can probably be attributed to a corresponding increase in the number of sales - total sales for 2013 have already crossed the 3,000 mark at the time of writing. Apartment vacancy rates hit rock bottom in Portland touching 3.3 percent (the national average vacancy rate is 8.3 percent). Most of the rush in the housing market is targeted at rental homes as ownership percentage has been on the decline. As high property prices are keeping people from buying their own houses, they are drifting towards rent to own houses, which are both flexible and affordable. The average listing price also gives potential buyers a cause to rejoice: it currently sits just over $440,000.
Local Restaurants There are a multitude of exemplary restaurants in the city, but some of the best and most innovative include The Alibi, which happens to be Portland's only resto-bar with a tiki theme. The Delta Cafe is famous for its sumptuous varieties of fritters and other local delicacies. Le Hapy is the place to be if you ever get a craving for crepes or other authentic French cuisine. And finally, for those seeking fine dining at fast food prices, the Western Culinary Institute provides exemplary food and service through the zeal of its students, who are efficient and courteous.
Tourist Attractions
Neighborhood Guide Here are a few of Portland's neighborhoods, along with their particular quirks: