City of Gresham Housing Market Snapshot – 2025

Gresham recorded nearly 1,000 residential sales during 2025, totaling $465 million across detached homes, attached homes, condominiums, and manufactured homes. The city continues to see growth through new home construction, with 18.7% of all sales consisting of newly constructed homes.

About This Snapshot

This snapshot summarizes residential sales occurring within the official City of Gresham limits during calendar year 2025 (with some comparisons to calendar year 2024). Included property types are detached homes, attached homes, condominiums, and manufactured homes on owned land. Data are sourced from RMLS and have undergone a rigorous cleaning and validation process. Manufactured homes located in leased-space parks are not included. For additional information regarding data cleaning procedures and common MLS data challenges, see the dedicated page: RMLS Data Accuracy Challenges.

Tables in this snapshot cover important metrics such as:

  • Sales price to original list price: SP/OLP
  • Price per square foot (total square footage): PPSF (TSF)
  • Cumulative days on market: CDOM
  • Average lot size in acres: ac
  • Number and % of affordable sales

How affordability is defined: The Portland Appraisal Blog Affordability Index (PABAI) was used to evaluate affordability during the study period. PABAI calculates the income needed to buy each home using its actual reported price, taxes, HOA dues, and an insurance estimate, financed at the Freddie Mac 30-year rate in effect at the time of sale. A home is considered affordable if the required income does not exceed the HUD median family income for the Portland-Vancouver-Hillsboro MSA in effect at the time of sale.

Market Overview

Located in eastern Multnomah County, Gresham is Oregon’s fourth-largest city and the second-largest city in the Portland metropolitan region. With a population of approximately 112,000 residents spread across 23.5 square miles, the city serves as an economic and residential center for eastern Multnomah County.

Originally established as an agricultural community, Gresham has evolved into a diverse suburban city with a broad mix of housing types, neighborhoods, and development patterns. The city’s location along Portland’s eastern edge provides residents with access to regional employment centers while supporting a housing market that differs meaningfully from many of the Portland area’s higher-priced communities.

Unlike some of the smaller cities featured in this series, Gresham contains multiple distinct neighborhoods, a wide variety of housing stock, and meaningful concentrations of detached homes, attached homes, condominiums, and manufactured homes on owned land.

Citywide Residential Market Snapshot

The following table summarizes residential sales occurring within Gresham city limits during calendar year 2025. Included property types are detached homes, attached homes, condominiums, and manufactured homes on owned land. Together, these four segments provide a high-level overview of Gresham’s residential market.

CategoryDetachedAttachedCondoManuf.
Total  Dollar Volume$383,236,603$60,231,017$20,115,210$1,226,000
Average Price$516,491$401,540$245,307$408,667
Average PPSF (Total SF)$281.43$252.26$228.39$308.37
Average Total SF1,9431,6041,0851,325
Average Lot Size (ac)0.20430.0666N/A0.1400
Average Age (Yrs)39.787.2741.2729.00
Average CDOM55.9054.8789.0633.33
Total # of Sales742150823
% of Market75.95%15.35%8.39%0.31%
Highest Sale$2,050,000$526,000$435,000$475,000
Lowest Sale$230,000$215,000$126,563$362,000
# Affordable237126782
% Affordable31.94%84.00%95.12%66.67%
Cross-Segment Housing Market Comparison
City of Gresham
January 2025 – December 2025 (977 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

Gresham generated nearly $465 million in residential sales volume during 2025, with 977 transactions occurring across detached homes, attached homes, condominiums, and manufactured homes on owned land. As Oregon’s fourth-largest city and the Portland region’s second-largest city, Gresham supports a housing market large enough to sustain multiple ownership segments serving different buyer needs and price points.

Detached homes continued to dominate the market, accounting for 742 sales and approximately 82.5% of total residential dollar volume. While detached housing remained the foundation of the ownership market, attached homes and condominiums provided distinct alternatives for buyers seeking lower-cost ownership opportunities.

Attached homes represented a meaningful share of market activity, accounting for 15.35% of all residential sales. The segment was notable for its exceptionally young housing stock, averaging just 7 years old, compared to roughly 40 years for detached homes and 41 years for condominiums. Smaller homes on significantly smaller lots enabled attached housing to deliver newer ownership opportunities at substantially lower prices than detached homes.

Condominiums occupied the lowest-priced ownership tier within the city, averaging approximately $245,000 per sale. Although condos accounted for only 8.39% of total sales, they provided an important ownership option for households seeking lower entry points into the housing market.

Manufactured homes on owned land remained a very small segment, with only 3 sales recorded during 2025. Because of the limited number of transactions, observations regarding manufactured homes should be viewed as descriptive rather than trend-oriented.

Citywide Sales by Housing Type & Neighborhood

While the previous table compared housing activity by segment, the following table examines where those sales occurred. Gresham’s 16 neighborhoods vary considerably in their housing stock, development patterns, and land uses. As a result, different housing types tend to concentrate in different parts of the city.

Neigh.# Detached# Attached# Condo#Manuf.
Centennial50190
Central City4700
Gresham Butte94000
Gresham Pleasant Valley415400
Historic Southeast31002
Hogan Cedars29400
Hollybrook160140
Kelly Creek1355720
North Central74511
North Gresham22010
Northeast180250
Northwest41680
Powell Valley476120
Rockwood56860
Southwest63100
Wilkes East21140
Total742150823
City of Gresham Sales Count by Housing Segment & Neighborhood
January 2025 – December 2025 (977 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

All 16 Gresham neighborhoods recorded residential sales during 2025, demonstrating the breadth of housing activity throughout the city. Detached homes generated meaningful sales volume in nearly every neighborhood, reflecting their dominant role within the city’s housing market.

Kelly Creek emerged as Gresham’s most active residential neighborhood, recording 194 total sales across all housing types. The neighborhood led the city in both detached-home sales (135) and attached-home sales (57), making it a significant contributor to overall residential activity.

Attached homes were far more geographically concentrated than detached homes. Kelly Creek and Gresham Pleasant Valley accounted for 111 of the city’s 150 attached-home sales, or approximately 74% of the entire segment. This concentration aligns with the significant amount of recent residential development occurring within those neighborhoods.

Condominium sales were distributed across fewer neighborhoods, with Northeast (25 sales), Hollybrook (14 sales), and Powell Valley (12 sales) recording the highest transaction counts. Together, those three neighborhoods accounted for more than 60% of all condominium sales during the year.

Several neighborhoods were heavily associated with a particular housing type. Gresham Butte recorded 94 detached-home sales with no attached-home or condominium activity, while Central City generated relatively little residential activity overall due to its predominantly non-residential land use pattern.

Detached Homes

Detached homes represent the largest and most active residential housing segment in Gresham. Because detached properties accounted for more than three quarters of residential sales during 2025, this segment provides the clearest view of local market conditions.

Detached Homes Market Statistics

The following table compares detached-home sales activity occurring within Gresham city limits during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$426,573,767$383,236,603-10.16%
Average Price$520,847$516,491-0.84%
Median Price$507,530$499,700-1.54%
Avg SP/OLP98.87%98.11%-0.77 pts
Avg PPSF (TSF)$282.93$281.43-0.53%
# in HOA247152-95 homes
Avg HOA Dues$36.64$43.42+18.50%
Avg Total SF1,9401,943+0.16%
Avg Lot Size (ac)0.20600.2043-0.80%
Avg Age (Yrs)35.2839.78+4.5 years
Avg CDOM48.5355.90+7.37 days
Total # of Sales819742-77 homes
# of New Constr.17876-102 homes
# Affordable153237+84 homes
% Affordable18.68%31.94%+13.26 pts
Min Required Income$62,858$64,098+1.97%
Avg Required Income$141,120$139,567-1.10%
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues. All other metrics use the full dataset for each year.
City of Gresham
Single-Family Detached Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Detached-home activity moderated during 2025, though pricing remained remarkably stable. Total sales declined from 819 transactions in 2024 to 742 transactions in 2025, while total dollar volume fell by approximately 10%. However, average price, median price, and price per square foot changed very little, suggesting the market experienced lower transaction volume rather than meaningful price erosion.

One of the more notable shifts occurred within the composition of sales. New-construction detached-home sales declined from 178 homes in 2024 to 76 homes in 2025. When new construction is removed from the equation, resale activity actually increased from an estimated 641 homes in 2024 to 666 homes in 2025. This indicates much of the decline in total sales activity was attributable to fewer newly completed homes reaching the market rather than weakening demand for existing homes.

The reduction in new-construction deliveries also helps explain several other changes within the segment. Average housing age increased by nearly 5 years as fewer newly built homes entered the sales mix, while average home size and lot size remained largely unchanged.

Marketing times increased by approximately one week during 2025, and sellers received slightly lower percentages of their original list prices.

HOA participation declined during 2025—another consequence of fewer new construction homes entering the market. Average HOA dues increased modestly; even with that increase, detached-home HOA costs remained much lower than the attached-home and condominium segments.

Detached Homes Scatter Plots

The following scatter plot provides a visual overview of detached-home sales occurring during 2025. Each point represents a single sale and illustrates the relationship between sale price and date of sale.

The full scatter plot illustrates the complete range of detached-home sales occurring during 2025, including a detached home that sold for $2.05 million. Because that sale was substantially higher than the rest of the market, it compresses the primary market cluster and makes it more difficult to evaluate pricing patterns among the remaining sales.

The following scatter plot removes that single outlier to provide a clearer view of the detached-home market where the overwhelming majority of transactions occurred.

With the $2.05 million sale removed, the primary detached-home market becomes much easier to evaluate. Most transactions clustered between approximately $350,000 and $650,000, reinforcing the concentration of activity within the middle of the market. The concentration of sales within this range reinforces that Gresham’s detached-home market was overwhelmingly middle-market during 2025.

The distribution also appears remarkably stable throughout the year. There is no obvious upward or downward pricing trend visible within the sales cluster, supporting earlier observations that average price, median price, and price-per-square-foot changed very little between 2024 and 2025. Much of the variation visible in the scatter plot reflects differences in individual property characteristics rather than broad shifts in market pricing.

Detached Homes Sales by Price Range

The following table summarizes detached-home sales occurring within Gresham city limits during 2025 by price range. In addition to the number of sales, the table highlights the average price, typical size, construction era, and typical lot size within each price band.

Price RangeSalesAvg Close PriceAvg Total SFAvg Year BuiltAvg Acres
<200K0————
200K – 249K1$230,0001,00819550.230
250K – 299K10$273,5001,06319530.185
300K – 349K15$330,4071,36519520.256
350K – 399K55$381,3441,26119640.181
400K – 449K118$425,2281,44319730.189
450K – 499K176$471,9331,72919810.187
500K – 549K137$526,5262,01719940.178
550K – 599K111$570,8232,19519980.178
600K – 649K43$619,6872,45720030.181
650K – 699K33$676,8702,85619930.234
700K – 749K10$723,9153,05120080.217
750K – 799K8$778,7753,07520010.251
800K – 849K9$824,5223,23119900.406
850K – 899K8$867,7003,21719960.974
900K – 949K4$926,6653,82620110.375
950K – 999K1$980,0005,03019920.670
1,000K – 1,049K2$1,028,8503,54820000.540
1,050K – 1,099K0————
≥ 1,100K1$2,050,0008,61220092.000
Total/Avg742$516,4911,94319850.2043
Sales by Price Band
Note: The Total/Avg row reports total sales and all other columns represent averages for the study period.
City of Gresham
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Gresham’s detached-home market was heavily concentrated within a relatively narrow range of price points. More than half of all detached-home sales occurred between $450,000 and $600,000, while nearly 90% of all detached sales occurred below $650,000. Although detached homes sold for as much as $2.05 million during 2025, the typical transaction occurred squarely within the middle of the market.

Home size generally increased alongside price. Detached homes in the $400,000–$449,000 range averaged approximately 1,443 square feet, while homes in the $600,000–$649,000 range averaged approximately 2,457 square feet. Buyers generally received more living area as they moved into higher price brackets.

The distribution of new construction homes reveals a clear pattern. Most newly built detached homes sold between $500,000 and $600,000, indicating builders largely targeted the middle portion of the detached-home market rather than either the entry-level or luxury segments.

Price also corresponded with housing age. Lower-priced detached homes were generally built during the 1950s through 1970s, while higher-priced homes tended to be newer. The average construction year generally moves forward as prices increased, reflecting both newer housing stock and larger homes in the upper tiers of the market.

Luxury activity remained limited. Only 25 detached-home sales exceeded $800,000, and only three sales exceeded $1 million.

Detached Homes Required Income & Affordability

The following represents affordability and required income findings for detached homes during 2025 under the Portland Appraisal Blog Affordability Index (PABAI) framework.

Category20242025Change
Total Sales (Detached)819742-9.40%
# of Affordable Sales153237+84 homes
% Affordable18.68%31.94%+13.26 pts
Min Required Income$62,857.89$64,098.02+1.97%
Avg Required Income$141,119.95$139,567.00-1.10%
Median Required Income$137,238.09$134,025.49-2.34%
Max Required Income$422,853.10$588,101.52+39.08%
Affordability overview. Affordable homes determined using PABAI.
City of Gresham
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Detached-home affordability improved substantially during 2025. The number of affordable detached-home sales increased by 84 homes, raising the affordability rate from 18.68% to 31.94%. This improvement occurred despite modest changes in pricing, indicating more favorable mortgage rates in 2025 boosted affordability. The detached-home market remained concentrated near the affordability threshold. As a result, shifts in interest rates helped reduce the average and median required incomes. The increase in purchasing power moved a significant number of homes from unaffordable to affordable status.

Entry-level opportunities remained present within the market. The minimum required income changed very little between years, suggesting households at the lower end of the detached-home market encountered similar entry points in both periods. Investigation of the lowest-priced detached-home sales indicates many represented homes requiring some degree of repair or updating.

At the opposite end of the market, a household earning approximately $588,000 annually could have qualified for any detached home that sold during 2025. This figure reflects the upper boundary of the observed market.

The following table summarizes detached-home sales by required income range. In addition to the number of sales, the table highlights the number of affordable sales in each cohort as well as average required income and average close price.

Income Range# of Sales# AffordableAvg Required IncomeAvg Close Price
<60K0———
60K-69K33$66,058$250,000
70K-79K66$74,911$272,667
80K-89K1010$83,937$315,010
90K-99K2121$95,304$361,090
100K-109K7070$104,826$395,983
110K-119K9590$115,545$432,677
120K-129K11637$124,916$466,131
130K-139K980$134,400$497,517
140K-149K1070$144,846$537,276
150K-159K760$154,275$568,998
160K-169K510$164,267$599,233
170K-179K220$174,499$643,932
180K-189K180$184,254$682,234
190K-199K140$195,663$708,343
≥200K350$245,664$880,282
Grand Total742237$139,567$516,491
Sales by Required Income Band
City of Gresham
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

More than half of all detached-home sales occurred within income bands ranging from approximately $110,000 to $150,000, placing the center of the market close to the region’s median family income.

The largest income cohort was the $120,000–$129,999 range, followed closely by the $140,000–$149,999 and $130,000–$139,999 cohorts. Together, these three groups accounted for more than 43% of all detached-home sales, illustrating how heavily the market was concentrated near the affordability threshold.

Opportunities for households earning less than $100,000 remained present, though they represented a relatively small portion of the market. Only 40 detached-home sales occurred below that level, accounting for approximately 5% of all detached transactions.

Given the HUD median family income for most of 2025 was $124,100, affordability, by definition, vanishes above that required income threshold. However, the adjacent income cohorts ranging from $130,000–$149,999 contained 205 sales, representing 27.6% of the entire detached-home market. Shifts in mortgage rates or larger down payments can place many of those homes within reach of households operating at or near the median family income.

The following table examines required income and affordability within Gresham’s 16 neighborhoods.

Neigh# of SalesAvg Price# Afford% AffordAvg Req Income
Centennial50$447,1642958.00%$118,935
Central City4$374,5004100.00%$100,437
Gresham Butte94$649,82377.45%$179,649
Gresham Pleasant Valley41$563,34324.88%$151,846
Historic Southeast31$460,8501754.84%$122,297
Hogan Cedars29$491,374620.69%$133,778
Hollybrook16$471,844850.00%$125,387
Kelly Creek135$542,3981813.33%$146,909
North Central74$469,8374155.41%$125,452
North Gresham22$441,3611359.09%$117,468
Northeast18$476,439633.33%$129,985
Northwest41$498,972819.51%$135,326
Powell Valley47$512,3151531.91%$138,137
Rockwood56$394,9704885.71%$104,361
Southwest63$564,89357.94%$153,254
Wilkes East21$504,4551047.62%$135,254
Total/Avg742$516,49123731.94%$139,567
Affordability & Average Required Income by Neighborhood
City of Gresham
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Affordability varied considerably across Gresham’s neighborhoods. While the citywide detached-home affordability rate was 31.94%, several neighborhoods substantially exceeded that figure. Rockwood recorded the highest affordability rate among neighborhoods with meaningful sales volume, with 48 of 56 detached-home sales qualifying as affordable. North Gresham, Centennial, North Central, and Historic Southeast also recorded affordability rates exceeding 50%. These neighborhoods benefited from lower average prices and some of the oldest housing stock in the city.

Required incomes generally followed neighborhood pricing. Gresham Butte recorded the highest average sale price and required income, supported by the city’s largest average home size (2,598 SF) and largest average lot size (0.265 acres). Kelly Creek and Gresham Pleasant Valley also generated relatively low affordability rates. Both neighborhoods contain some of the city’s newest detached housing inventory, contributing to higher average sale prices and required incomes.

Attached Homes

Attached homes represent the second largest residential housing segment in Gresham and offer a more compact housing configuration than detached homes while still providing some backyard space.

Attached Homes Market Statistics

The following table compares attached-home sales activity occurring within Gresham city limits during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$25,861,950$60,231,017+132.89%
Average Price$364,253$401,540+10.24%
Median Price$373,000$409,995+9.92%
Avg SP/OLP98.87%98.77%-0.105 pts
Avg PPSF (TSF)$255.58$252.26-1.30%
# in HOA53130+77 homes
Avg HOA Dues$210.63$166.04-21.17%
Avg Total SF1,4511,604+10.56%
Avg Lot Size (ac)0.06790.0666-1.84%
Avg Age (Yrs)22.897.27-15.62 years
Avg CDOM52.5854.87+2.29 days
Total # of Sales71150+79 homes
# of New Constr.7107+100 homes
# Affordable61126+65 homes
% Affordable85.92%84.00%-1.92 pts
Min Required Income$65,597$63,400-3.35%
Avg Required Income$104,929$113,482+8.15%
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues. All other metrics use the full dataset for each year.
City of Gresham
Single-Family Attached Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

The attached-home segment expanded dramatically during 2025, with sales volume more than doubling from 71 transactions to 150 transactions. This increase was driven by a substantial increase in new deliveries. The segment added 100 more newly constructed homes, which accounted for 71% of all attached-home sales during 2025.

The influx of newly built inventory reshaped the market. Average home size increased by more than 150 square feet, while average age declined by more than 15 years as newly constructed units came to dominate the sales mix. The increase in average and median sale prices largely reflects this shift toward newer and larger homes rather than broad-based market appreciation.

Lot sizes remained virtually unchanged despite larger homes entering the market, indicating builders were delivering additional living area through more efficient land utilization.

Average HOA dues declined despite a sharp increase in HOA-governed sales. An investigation of new-construction transactions indicates newer attached-home developments generally carried lower HOA obligations than many resale properties within the segment.

Attached Homes Sales Scatter Plot

The following scatter plot provides a visual overview of attached-home sales occurring during 2025. Each point represents a single sale and illustrates the relationship between sale price and date of sale.

The attached-home market exhibited a remarkably compact price distribution during 2025. Most sales clustered between approximately $350,000 and $450,000.

The scatter plot also shows little evidence of a meaningful upward or downward price trend during the year. Pricing remained relatively stable throughout 2025, suggesting the new deliveries were received by the market without significant price volatility.

Attached Homes Sales by Price Range

The following table summarizes attached-home sales occurring within Gresham city limits during 2025 by price range. In addition to the number of sales, the table highlights the average price, typical size, construction era, and typical lot size within each price band.

Price RangeSalesAvg Close PriceAvg Total SFAvg Year BuiltAvg Acres
<200K0————
200K – 249K2$230,0001,12420060.035
250K – 299K0————
300K – 349K18$331,0971,38020000.039
350K – 399K28$382,5141,53620160.064
400K – 449K89$415,6331,63120230.070
450K – 499K11$460,3251,91720180.086
500K – 549K2$523,0002,14219910.139
≥550K0————
Total150$401,5401,60420180.0666
Sales by Price Band
Note: The Total/Avg row reports total sales and all other columns represent averages for the study period.
City of Gresham
Single-Family Attached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

The attached-home market was concentrated within a narrow range of price points. More than 91% of all attached-home sales occurred below $450,000, while nearly 60% occurred within the $400,000–$449,999 price band alone.

New construction activity was similarly concentrated. An investigation of new-construction sales indicates nearly all newly built attached homes sold between $350,000 and $500,000, with the majority falling within the $400,000–$449,999 range. Builders appear to have targeted a specific segment of the ownership market rather than a broad range of price points.

Home size generally increased alongside sale price. Attached homes in the dominant $400,000–$449,999 cohort averaged approximately 1,631 square feet, while homes selling between $450,000 and $549,999 averaged near or above 2,000 square feet.

The table also highlights the relatively standardized nature of attached housing. Lot sizes changed little across the major price cohorts despite meaningful differences in home size and price. No attached-home sales exceeded $549,999 during 2025, reinforcing the segment’s position as a middle-market ownership option within Gresham.

Attached Homes Required Income & Affordability

The following represents affordability and required income findings for attached homes during 2025 under the PABAI framework.

Category20242025Change
Total Sales (Attached)71150+111.27%
# of Affordable Sales61126+65 homes
% Affordable85.92%84.00%-1.92 pts
Min Required Income$65,597.43$63,399.90-3.35%
Avg Required Income$104,929.46$113,481.67+8.15%
Median Required Income$107,037.41$114,806.95+7.26%
Max Required Income$132,891.52$148,591.79+11.81%
Affordability overview. Affordable homes determined using PABAI.
City of Gresham
Single-Family Attached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

The attached-home segment remained highly affordable despite a substantial increase in new-construction activity. Affordable sales increased from 61 homes in 2024 to 126 homes in 2025, adding 65 additional affordable attached-home sales. While the volume of affordable homes changed, the affordability rate remained remarkably consistent in both years.

Required incomes increased alongside pricing. Average required income increased by approximately 8%, reflecting the larger and newer homes entering the market. Given average and median prices increased by roughly 10% year over year, the increase in average required income is consistent.

The entry point into the attached-home market changed very little. The minimum required income remained near $64,000, indicating households at the lower end of the market encountered similar ownership opportunities in both years.

At the upper end of the market, a household earning approximately $149,000 annually could have qualified for any attached home that sold during 2025. This figure reflects the upper boundary of the observed market.

The following table summarizes attached-home sales by required income range. In addition to the number of sales, the table highlights the number of affordable sales in each cohort as well as average required income and average close price.

Income Range# of Sales# AffordAvg Req IncomeAvg Close Price
<60K0———
60K-69K11$63,400$215,000
70K-79K22$77,091$274,450
80K-89K44$87,765$326,538
90K-99K1010$94,062$339,990
100K-109K2828$107,521$388,195
110K-119K6256$115,336$404,680
120K-129K4025$123,037$432,411
130K-139K0———
≥140K30$143,366$501,667
Grand Total150126$113,482$401,540
Sales by Required Income Band
City of Gresham
Single-Family Attached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

The attached-home market was concentrated within a narrow range of required incomes. Approximately 87% of all attached-home sales required between $100,000 and $130,000 of household income, with the $110,000–$119,999 cohort accounting for the largest share of transactions.

The distribution closely mirrors the regional HUD median family income. The largest concentrations of sales occurred within the income ranges immediately surrounding the $124,100 income threshold, indicating builders largely targeted households operating near the middle of the regional income spectrum.

Opportunities for households earning less than $100,000 remained available, though they represented a smaller share of the market. Only 17 attached-home sales (11.3%) required less than $100,000 of household income, while the overwhelming majority of transactions occurred between $100,000 and $130,000.

Relatively little activity occurred at the upper end of the income spectrum. Only three attached-home sales required more than $140,000 of household income, reinforcing the segment’s role as a middle-income ownership option.

Neigh# of SalesAvg Price# Afford% AffordAvg Req Income
Centennial1$315,2001100.00%$84,808
Central City7$360,129685.71%$106,977
Gresham Butte0—0——
Gresham Pleasant Valley54$422,8704277.78%$116,551
Historic Southeast0—0——
Hogan Cedars4$393,0754100.00%$115,042
Hollybrook00—
Kelly Creek57$405,0225087.72%$116,303
North Central5$389,121480.00%$104,772
North Gresham0—0——
Northeast0—0——
Northwest6$349,9836100.00%$109,412
Powell Valley6$408,167350.00%$119,113
Rockwood8$325,2318100.00%$86,696
Southwest1$420,0001100.00%$112,158
Wilkes East1$385,0001100.00%$104,697
Total/Avg150$401,54012684.00%$113,482
Affordability & Average Required Income by Neighborhood
City of Gresham
Single-Family Attached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Attached-home activity was heavily concentrated within two neighborhoods. Kelly Creek and Gresham Pleasant Valley accounted for 111 of the city’s 150 attached-home sales, representing approximately 74% of the entire segment. Both neighborhoods were also the primary beneficiaries of the substantial new-construction activity discussed previously.

The two dominant neighborhoods exhibited remarkably similar affordability profiles. Average required incomes were approximately $116,000 in both neighborhoods, suggesting builders targeted a consistent ownership market despite delivering homes in different locations.

Affordability variation was considerably narrower than in the detached-home market. Among neighborhoods with meaningful attached-home activity, affordability generally ranged from approximately 78% to 100%, indicating attached housing remained broadly attainable regardless of neighborhood.

Rockwood once again appeared among the city’s most attainable housing markets. Attached homes in Rockwood averaged approximately $325,000 and required about $86,700 of household income, substantially below the citywide attached-home average.

Condominium Housing

Condominium housing represents the third largest residential housing segment in Gresham and offers a different ownership structure than detached or attached homes. Condominium owners typically own the living area within their unit while sharing ownership of common areas through a homeowners association.

Condominium Housing Market Statistics

The following table compares condominium sales activity occurring within Gresham city limits during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$17,200,824$20,115,210+16.94%
Average Price$245,726$245,307-0.17%
Median Price$241,688$242,500+0.34%
Avg SP/OLP97.13%93.86%-3.27 pts
Avg PPSF (TSF)$242.03$228.39-5.63%
# in HOA7082+12 homes
Avg HOA Dues$386.11$444.42+15.10%
Avg Total SF1,0321,085+5.20%
Avg Age (Yrs)41.7041.27-0.43 years
Avg CDOM53.0389.06+36.03 days
Total # of Sales7082+12 homes
# of New Constr.00No Change
# Affordable7078+8 homes
% Affordable100.00%95.12%-4.88 pts
Min Required Income$53,869$52,942-1.72%
Avg Required Income$82,310$85,158+3.46%
All metrics use the full dataset for each year (including HOA dues).
City of Gresham
Single-Family Condominium Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium sales activity increased modestly during 2025, though the underlying market changed very little. Average price, median price, and required incomes were all remarkably stable, indicating the increase in sales volume reflected additional transactions rather than changing market values.

Unlike the attached-home segment, condominiums saw no new-construction activity in either year. The average age of sold units remained approximately 41 years, reinforcing the condominium market’s role as an established resale segment rather than an expanding source of new housing supply.

One of the more notable changes occurred in marketing times. Condominiums required approximately 36 additional days to sell during 2025, while sellers received lower percentages of their original list prices. Even so, prices remained largely unchanged, suggesting longer exposure times did not translate into meaningful price declines.

HOA dues continued to increase, a pattern observed throughout much of the Portland metropolitan region. Condominiums also carried the highest average HOA obligations among Gresham’s major housing segments, reflecting the shared ownership and maintenance structure common to condominium communities.

Average living area increased modestly during 2025 while price per square foot declined. This relationship suggests some of the variation in condominium pricing was attributable to differences in unit size rather than broad shifts in market value.

Condominium Sales Scatter Plot

The following scatter plot provides a visual overview of condominium sales occurring during 2025. Each point represents a single sale and illustrates the relationship between sale price and date of sale with the dots sized by the total square footage of the unit.

The condominium market exhibited a wider range of prices than attached housing, though most sales remained concentrated below $300,000.

The scatter plot shows little evidence of a sustained upward or downward pricing trend during 2025 when unit size is considered. The apparent variation reflects differences in condominium characteristics rather than changing market conditions. This observation is consistent with the stable average and median prices reported in the previous table.

Condominium Housing Sales by Price Range

The following table summarizes condominium sales occurring within Gresham city limits during 2025 by price range. In addition to the number of sales, the table highlights the average price, typical size, construction era, and typical lot size within each price band.

Price RangeSalesAvg Close PriceAvg Total SFAvg Year BuiltAvg HOA $
<100K0————
100K – 149K3$135,1888781975$506.00
150K – 199K19$181,6818311982$435.16
200K – 249K21$221,9101,0391978$461.57
250K – 299K27$271,5601,1981981$449.30
300K – 349K7$328,7861,4002004$540.07
350K – 399K3$368,0001,3962004$244.00
400K – 449K2$430,0001,2102004$160.00
≥450K0————
Total/Avg82$245,3071,0851984$444.42
Note: The Total/Avg row reports total sales and all other columns represent averages for the study period.
City of Gresham
Single-Family Condominium Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium activity was concentrated within the lower price tiers of the ownership market. More than 81% of condominium sales occurred between $150,000 and $299,999, while approximately 85% of all condominium sales occurred below $300,000.

The distribution highlights the distinct role condominiums play within Gresham’s housing market. While detached and attached homes were concentrated near or above $400,000, most condominium activity occurred at substantially lower price points.

Unit size generally increased alongside price. Condominiums selling below $200,000 typically averaged less than 900 square feet, while units in the upper price ranges commonly exceeded 1,200 square feet.

The age profile of the market also shifted with price. Lower-priced condominiums were generally built during the late 1970s and early 1980s, while the highest-priced units were typically constructed around 2004. The newer construction vintages contributed to the higher prices observed in the upper condominium tiers.

Only 12 condominium sales exceeded $300,000 during 2025, reinforcing the segment’s position as one of the city’s most attainable ownership options.

Condominium Housing Required Income & Affordability

The following represents affordability and required income findings for condominiums during 2025 under the PABAI framework.

Category20242025Change
Total Sales (Condo)7082+17.14%
# of Affordable Sales7078+8 homes
% Affordable100.00%95.12%-4.88 pts
Min Required Income$53,868.78$52,941.70-1.72%
Avg Required Income$82,310.40$85,158.34+3.46%
Median Required Income$81,961.07$82,248.35+0.35%
Max Required Income$112,886.42$127,977.95+13.37%
Affordability overview. Affordable homes determined using PABAI.
City of Gresham
Single-Family Condominium Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominiums remained the most affordable ownership segment in Gresham during 2025. Seventy-eight of 82 condominium sales qualified as affordable under the PABAI framework, producing an affordability rate of 95.12%.

Required incomes changed very little between years. Average required income increased by approximately 3.5%, while median required income was effectively unchanged. The stability of required incomes mirrors the stability observed in condominium pricing.

Entry-level ownership opportunities remained available throughout the market. The minimum required income remained near $53,000, providing a lower entry point than either detached or attached housing. In fact, the average condominium required approximately $85,000 in household income, substantially below the average required incomes for the detached and attached-home segments.

At the upper end of the market, a household earning approximately $128,000 annually could have qualified for any condominium that sold during 2025. This figure reflects the upper boundary of the observed market.

The following table summarizes condominium sales by required income range. In addition to the number of sales, the table highlights the number of affordable sales in each cohort as well as average required income and average close price.

Income Range# of Sales# AffordAvg Req IncomeAvg Close Price
<50K0———
50K-59K66$55,225$151,477
60K-69K1111$66,530$183,372
70K-79K1919$76,519$210,592
80K-89K1313$83,389$246,974
90K-99K1919$94,339$272,834
100K-109K66$104,742$315,333
110K-119K64$117,974$370,000
120K-129K20$126,568$340,750
≥130K0———
Grand Total8278$85,158$245,307
Sales by Required Income Band
City of Gresham
Single-Family Condominium Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium sales were concentrated at income levels well below those observed in the detached and attached-home segments. More than 75% of condominium sales required less than $100,000 of household income, with the $70,000–$79,999 and $90,000–$99,999 cohorts accounting for the largest share of transactions.

Condominiums also provided meaningful ownership opportunities for households earning less than $80,000 annually. A total of 36 condominium sales required less than $80,000 of household income, while 17 sales required less than $70,000.

The distribution places the center of the condominium market well below the regional HUD median family income of $124,100. Unlike detached and attached homes, which clustered near the median-income threshold, most condominium activity occurred at income levels comfortably below it.

Relatively little activity occurred at the upper end of the income spectrum. Only eight condominium sales required more than $110,000 of household income, and no condominium sale required more than $130,000. This narrow income distribution reinforces the condominium segment’s role as Gresham’s most attainable ownership option.

The following table examines required income and affordability within Gresham’s 16 neighborhoods for condominiums.

Neigh# of SalesAvg Price# Afford% AffordAvg Req Income
Centennial9$301,7339100.00%$94,777
Central City0—0—
Gresham Butte0—0—
Gresham Pleasant Valley0—0—
Historic Southeast0—0—
Hogan Cedars0—0—
Hollybrook14$208,25414100.00%$71,818
Kelly Creek2$339,5002100.00%$95,469
North Central1$268,0001100.00%$82,017
North Gresham1$255,2001100.00%$85,914
Northeast25$232,34225100.00%$85,202
Northwest8$316,675450.00%$111,245
Powell Valley12$233,18112100.00%$82,317
Rockwood6$198,9156100.00%$72,545
Southwest0—0—
Wilkes East4$237,0634100.00%$80,648
Total/Avg82$245,3077895.12%$85,158
Affordability & Average Required Income by Neighborhood
City of Gresham
Single-Family Condominium Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium activity was concentrated within a handful of neighborhoods. Northeast recorded the highest sales volume with 25 sales, followed by Hollybrook with 14 sales and Powell Valley with 12 sales. Together, these three neighborhoods accounted for more than 62% of all condominium sales during 2025.

Affordability remained remarkably consistent across most neighborhoods. Nearly every neighborhood with condominium activity recorded 100% affordability, with Northwest standing as the primary exception. All four condominium sales that failed to qualify as affordable occurred within that neighborhood.

Hollybrook and Rockwood recorded the lowest average required incomes at approximately $72,000, while Northwest recorded the highest at approximately $111,000.

Manufactured Homes

Manufactured homes represent the smallest residential housing segment in Gresham. While uncommon, they remain part of the city’s ownership market.

Manufactured Homes Market Statistics

The following table compares manufactured-home sales activity occurring within Gresham city limits during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$510,000$1,226,000+140.39%
Average Price$510,000$408,667-19.87%
Median Price$510,000$389,000-23.73%
Avg SP/OLP94.46%98.50%+4.04 pts
Avg PPSF (TSF)$199.53$308.37+54.55%
# in HOA00No Change
Avg HOA Dues———
Avg Total SF2,5561,325-48.17%
Avg Lot Size (ac)0.170.14-17.65%
Avg Age (Yrs)29.0029.00No Change
Avg CDOM390.0033.33-356.67 days
Total # of Sales13+ 2 homes
# of New Constr.00No Change
# Affordable02+2 homes
% Affordable0.00%66.67%+66.67 pts
Min Required Income$130,445$92,465-29.12%
Avg Required Income$130,445$107,607-17.51%
All metrics use the full dataset for each year.
City of Gresham
Single-Family Manufactured Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Manufactured-home sales on owned land remained a very small component of Gresham’s housing market during 2025. With only 3 sales occurring during the year, the figures presented in this section should be viewed as descriptive observations rather than evidence of market trends.

Two of the three manufactured-home sales qualified as affordable under the PABAI framework. The segment required approximately $108,000 of household income on average, placing it between condominiums and attached homes in terms of ownership cost during 2025.

No new manufactured-home construction was recorded in either year, and the average age of sold homes remained unchanged. Unlike the detached, attached, and condominium segments, the limited number of transactions does not permit meaningful conclusions regarding pricing trends, market conditions, or changes in buyer behavior.

Key Takeaways

Gresham’s housing market occupies a unique position within the Portland metropolitan area. While detached homes remained the dominant housing type during 2025, the city offered ownership opportunities across a broad range of price points and housing configurations. Nearly 1,000 residential sales occurred during the year, providing significantly more inventory and choice than many smaller communities throughout the region.

The data suggest Gresham functions primarily as a middle-income housing market. Detached homes were concentrated near the regional median family income, while attached homes and condominiums provided ownership opportunities at lower price points. Affordability outcomes were particularly strong within the attached-home and condominium segments, which remained accessible to many households operating near or below the regional median income.

New construction activity remained concentrated within the detached and attached-home segments. Together, builders delivered 183 newly constructed homes during 2025, with attached housing accounting for the majority of the growth. The attached-home market, in particular, demonstrates how newer ownership housing can be added to the market at price points that remain attainable for a significant share of local households.

Neighborhood differences also played an important role. Affordability, required income, and housing type concentrations varied considerably across the city. Neighborhoods such as Rockwood consistently appeared among the most attainable ownership markets, while newer-growth areas such as Kelly Creek and Gresham Pleasant Valley were characterized by newer housing stock and higher required incomes.

For households seeking homeownership opportunities within commuting distance of Portland, Gresham offers one of the region’s more diverse housing markets. Detached homes, attached homes, condominiums, and manufactured homes on owned land were all present during 2025, allowing buyers to pursue different ownership paths depending on their budget, housing preferences, and income level.

Sources & Further Reading

All data presented in this housing market snapshot is sourced directly from RMLS and has been subjected to a rigorous cleaning and validation process to ensure reliability for single-family residential analysis for the City of Gresham. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Boundary Definition: Analysis boundaries were established using the official neighborhood map.

Coda

Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

About the Author — Abdur Abdul‑Malik, SRA, ASA

Abdur Abdul‑Malik is the founder, author, and publisher of the Portland Appraisal Blog, where he produces original regional and neighborhood‑level housing analytics for the Portland Region. He is a certified residential appraiser serving Oregon and Washington, drawing on RMLS transaction data, public records, and custom segmentation models he has built.

He developed the Portland Appraisal Blog Affordability Index (PABAI), a payment‑based affordability metric built from actual RMLS sales. PABAI incorporates weekly updates based on the prevailing 30‑year fixed mortgage rate, providing a locally grounded measure of housing affordability across the region.

Learn more → PABAI explainer • mortgage rate series • full author bio

Portland Region Housing Affordability Snapshot – Rates Dip to 7.18% (November 5, 2026)

At this week’s 7.18% mortgage rate, the monthly principal‑and‑interest payment on a Q1 2026 Portland Region median‑priced detached home ($580,000) with 20% down is $3,143, up from $2,776 at February’s low. Lifetime interest rises to $667,584 and repricing all Q1 loans at the current rate adds $449M in regional interest.

What Happened This Week

Mortgage rates declined modestly this week, with the 30-year fixed falling to 7.18% from 7.24% one week ago. The 6-basis-point decrease marks the third consecutive pullback since rates began their rapid ascent in September. Even with this week’s improvement, mortgage rates remain near 2026 highs and continue to reflect one of the least affordable borrowing environments of the year.

The table below shows where the current rate sits within the 2026 range, including the February low, last week’s reading, and this week’s reading.

Time FrameDateRateRate Delta
YTD LowFeb 26, 20265.98%-1.20%
YTD HighOct 15, 20267.40%+0.22%
Last WeekOct 29, 20267.24%+0.06%
Current WeekNov 5, 20267.18%—
Mortgage rate context showing the year‑to‑date low, last week’s rate, and the current week’s rate. Rate Delta reflects the change relative to the current week (7.18%).
January 1, 2026 – November 5, 2026
Primary Mortgage Market Survey® (PMMS®)
Data: Freddie Mac | PortlandAppraisalBlog.com

The broader 2026 pattern remains largely intact: rates bottomed in late February, climbed sharply through early April, cooled briefly, and then resumed their upward drift beginning in late April. What began as a gradual rise over the summer accelerated noticeably during the second half of the year, carrying rates to a series of successive year-to-date highs during September and early October. This week’s decline, the third in a row, interrupts that upward trajectory, but rates remain firmly lodged near the top of the annual range.

Affordability remains strained at these levels. Although this week’s modest relief provides some improvement in purchasing power and monthly payment affordability, borrowing costs remain substantially higher than they were earlier this year.

As the charts below show, this week’s rate remains near the very top of the 2026 range, and the Portland Appraisal Blog Affordability Index (PABAI) reflects the ongoing affordability pressures facing homebuyers throughout the Portland Region.

Weekly Rate Change (Basis Points)

The chart below shows the weekly change in mortgage rates, not the actual mortgage rate. Values above the zero line indicate rates increased from the prior week, while values below the line indicate rates decreased. One basis point equals 0.01%.

This week’s takeaway: Mortgage rates declined by 6 basis points, marking the thuird consecutive weekly decrease. Year to date rates have seen 27 hikes, 16 cuts, and only 1 week where there was no change from the previous week.

The recent pattern remains noteworthy. Four of the five largest weekly rate increases recorded in 2026 have occurred since September 3, helping drive rates from 6.66% on August 27 to 7.18% today—a cumulative increase of 52 basis points (0.52%). This week’s decline provides a modest measure of relief, but it does little to alter the broader trend. Mortgage rates remain near their highest level of the year, and affordability conditions remain materially less favorable than they were just two months ago.

Table of Contents

Mortgage Rate Context

Long‑Run View (Since 2000)

The long‑run chart shows how this week’s rate fits into a 25‑year history of mortgage cycles. The early 2000s sat in the 6–8% range, the post‑Great Recession era brought a decade of unusually low rates, and the pandemic period pushed borrowing costs to historic lows. Years after leaving that ultra‑low‑rate environment, the market continues to adjust to more difficult financing constraints, and this week’s 7.18% reflects that ongoing shift. While current rates remain below the peaks seen in the early 2000s, they are elevated relative to most of the past two decades and are hovering at levels last generally seen in late 2023. Affordability continues to be shaped by the same structural pressures highlighted in the medium‑run and short‑run views.

Medium‑Run View (Since COVID)

The COVID‑era chart highlights the dramatic rate compression of 2020–2021, the rapid surge of 2022, and the choppy plateau that has defined the past several years. Rates have generally oscillated between roughly 6% and 7% since mid‑2023, though the last 7 weeks have broken out of that range. The medium‑run trend remains one of elevated and persistent borrowing costs, with the market continuing to adjust to structurally higher financing conditions across the Portland Region.

Short‑Run View (2026 YTD)

Note: The y-axis starts at 5.6% to allow better examination of weekly differences.

The year‑to‑date chart shows the full shape of the 2026 cycle: a clear bottom at 5.98% on February 26th, a sharp rise into early April, a brief cooldown, and a renewed climb that pushed rates into the mid‑6% range by late May. While rates spent much of the summer fluctuating within a relatively narrow band, the past 8 weeks has seen a pronounced upward move. The current 7.18% reading keeps rates near the year‑to‑date high and places rates 120 basis points above the February low.

Affordability continues to sit near its weakest point of 2026. The short‑run trend remains the most relevant for buyers currently because it directly influences monthly payments, debt‑to‑income ratios, and qualifying power across the Portland Region. The recent surge higher underscores how quickly affordability conditions can deteriorate when mortgage rates rise, even without corresponding changes in home prices or household income.

Portland Appraisal Blog Affordability Index (PABAI)

What PABAI Measures

The Portland Appraisal Blog Affordability Index (PABAI) is a model that estimates how home sale prices compare to what a median‑income household can qualify for under standard lending assumptions (HUD Portland‑Vancouver‑Hillsboro MSA median income, 20% down, and a 28% DTI for principal, interest, taxes, insurance, and HOA dues).

Unlike national affordability indices, PABAI is built from actual RMLS transactions rather than a single hypothetical price point. It computes an affordability ratio for every closed sale in the Portland Region during the analysis period using rates matched to the date of close, reported taxes, reported HOA dues, and an insurance estimate based on a percentage of the home’s value. The individual affordability ratios are then averaged to produce the reported PABAI value for that period. For Q1 2026, this approach captures the actual mix of homes sold and the financing conditions present at the time those transactions occurred. Each housing segment—detached, attached, condos, and manufactured—is calculated separately, ensuring that segment‑specific dynamics are preserved rather than blended together. This approach provides a more detailed, locally grounded view of Portland‑area affordability and avoids the distortions that occur when fundamentally different housing types are combined into a single regional metric.

A PABAI of 100 means the market is exactly affordable at that income level (the Q1 2026 HUD median MSA income was $124,100 for a family of four). Values above 100 indicate excess qualifying capacity (more affordable), while values below 100 indicate a shortfall (strained affordability). Full methodology and the interpretation scale are available on the PABAI explainer page.

PABAI RangeInterpretation
120+Strongly Affordable
100–119Moderately Affordable
80–99Strained
Below 80Severely Constrained

Q1 2026: Actual vs. Constant‑Rate Affordability

Note: The y-axis starts at 65 to allow better examination of weekly differences.

The Q1 chart compares two versions of PABAI: one using actual weekly mortgage rates, and one using this week’s rate (7.18%) applied as a constant across the entire quarter. Because the constant-rate line uses a rate that sits well above every mortgage rate observed during Q1, it consistently falls below the actual-rate line throughout the entire period. That part isn’t the story.

The key insight is the size and persistence of the gap between the two lines. During Q1, buyers benefited from mortgage rates that ranged from 5.98% to 6.38%, substantially below the current 7.18%. As a result, the actual-rate PABAI readings exceed the constant-rate equivalents every week, often by a wide margin.

The quarterly averages tell the story clearly: 85.45 under actual rates versus 77.62 under a constant 7.18% rate. In other words, if this week’s financing environment had existed throughout Q1, affordability would have been materially worse despite identical home sales, taxes, HOA dues, and household income assumptions.

The current 7.18% rate pushes the constant-rate line even further below the actual-rate line, illustrating how much affordability has deteriorated since the first quarter of the year. The comparison highlights the compounding effect of higher borrowing costs and shows how rapidly qualifying power can erode when mortgage rates move substantially above the levels that prevailed during Q1.

Structural Unaffordability and the Seasonal Pattern

Detached homes in the Portland Region remain structurally unaffordable to a household earning the HUD median MSA income. PABAI has been below 100 for years, and Q1 2026 continues that pattern. What the chart makes clear is that winter remains the best window for buyers on tight qualifying budgets: affordability improves when rates soften and seasonal pricing cools. As spring approaches, both rates and prices firm up, and affordability reliably compresses.

With the 30‑year fixed at the 7.18%, the separation between the two PABAI lines illustrates how much qualifying power has been lost since Q1, pushing the market into severely constrained territory. The early‑year affordability advantage reflected in the actual‑rate series have been meaningfully reduced.

The 7.18% reading keeps affordability firmly in the severely constrained range and reinforces the sensitivity of housing qualification to mortgage rates. The current rate environment underscores how quickly affordability can deteriorate when financing costs rise while home prices remain elevated.

Affordability Snapshot (This Week)

Maximum Sustainable Payment (MSP) — Median Income

Understanding affordability begins with a simple anchor: how much housing payment a median‑income household in the Portland Region can sustainably carry. Using the Q1 2026 HUD median MSA income and applying a standard front‑end debt-to-income ratio, we can calculate the Maximum Sustainable Payment (MSP) that fits within traditional affordability guidelines. This number does not change with mortgage rates—it is tied purely to income and serves as the baseline against which all market payments are measured.

Affordability MetricValue
Median MSA Income (Q1 2026)$124,100
Qualifying Ratio (Front‑End)28%
Max Sustainable Payment$2,895.67

This ceiling is also the reason PABAI incorporates all components of monthly housing cost rather than focusing solely on principal and interest. As mortgage rates rise, interest consumes a larger share of the allowable payment “space,” leaving less room for taxes, insurance, HOA dues, and mortgage insurance. When these components collectively exceed the sustainable threshold, the buyer must either reduce the loan amount or shift to a lower‑priced segment of the market.

In practical terms, higher rates compress the principal that can be repaid within the same affordability boundary—which is why rising rates translate directly into fewer accessible homes and tighter qualifying margins.

Q1 2026 Affordability Recomputed at This Week’s Rate

The table below shows how Q1 2026 affordability metrics change when all 3,349 detached sales are recalculated at this week’s 7.18% rate. This is the clearest way to see how rising rates reshape qualifying power, housing burden, and the share of homes accessible to a median‑income household.

MetricActual Q1 2026Recomputed at 7.18% RateChange
Average PABAI85.4578.00-7.45 pts
Required income (28% ratio)$145,236$159,108+9.55%
Median‑income shortfall17.03%28.21%+11.18 pts
Avg monthly mortgage pmt$3,932.66$4,305.18+$372.52
Avg housing burden (DTI)38.03%41.63%+3.60 pts
# of Affordable homes967604-363 homes
% of homes affordable28.87%18.04%-10.83 pts
Single-family Detached | Q1 2026
HUD Portland‑Vancouver‑Hillsboro MSA median income: $124,100
Data: RMLS (3,349 observations) | PortlandAppraisalBlog.com

Note: Required income and median-income shortfall are derived from PABAI, which is calculated using the affordability ratio of all sales in the dataset. The Payment and housing-burden metrics are arithmetic averages and therefore will not reconcile directly through the 28% affordability threshold. The average monthly housing payment consists of principal and interest, plus actual reported taxes and HOA dues and an estimated insurance cost. Principal and interest use the rate matched to each sale’s week (Actual column) or 7.18% for every sale (Recomputed column).

Because this week’s rate sits well above the mortgage rates that prevailed during Q1, the recomputed metrics show a substantial deterioration in affordability relative to the actual first-quarter environment. Required income rises sharply, housing burden increases, and the number of homes affordable to a median-income household falls dramatically.

The shift is visible across every metric. PABAI declines sharply, required income increases from $145,236 to $159,108, and the median-income shortfall expands from 17.03% to 28.21%. Average monthly mortgage payments increase by nearly $372 per month, while housing burden rises to 41.63% of gross income, far above the benchmark 28% qualifying ratio used in the model.

Perhaps most striking, the number of homes affordable to a median-income household falls from 967 to 604, eliminating 363 affordable homes from the Q1 dataset. The affordable share of the market drops from 28.87% to 18.04%, meaning less than one in five detached homes would qualify as affordable under current financing conditions. The comparison illustrates how quickly affordability can deteriorate when mortgage rates move higher and remain elevated.

How Rising Rates Reshape Affordability

Taken together, these metrics illustrate how mortgage rates influence affordability through multiple channels simultaneously. Higher rates do not merely increase monthly payments. They also increase the income needed to qualify, reduce borrowing capacity, and shrink the portion of the market accessible to median‑income households.

Higher rates reduce qualifying power, remove homes from the affordable inventory pool, and force buyers to make difficult tradeoffs between location, home size, housing type, and monthly payment. As financing conditions tighten, affordability becomes a constraint not just on how much buyers can spend, but on the range of housing options realistically available to them.

The Buyer‑Side Impact

For buyers, the experience varies by circumstance but the direction is the same. Households with limited financial flexibility tend to feel the tightening most acutely, as higher rates reduce qualifying power and narrow the range of homes available within budget. In many cases, buyers are forced to make tradeoffs involving location, home size, housing type, condition, or commute time in order to keep monthly payments manageable.

Move‑up buyers face a different challenge. While existing home equity may help offset some of the affordability pressure, higher mortgage rates increase the payment gap between a current home and the desired replacement property. As a result, the financial benefit of moving often becomes less clear, even when household income and equity positions remain strong.

Cash buyers, by contrast, can gain relative leverage when financing conditions become more restrictive. As affordability pressures reduce the pool of financed buyers, cash purchasers may encounter less competition in certain segments of the market. The effect, however, is not uniform and can vary significantly by price range and property type.

Across all buyer groups, elevated mortgage rates are influencing not only what buyers can afford, but also the choices they make and the segments of the market in which they can realistically compete.

The Seller‑Side Impact

Rising rates don’t just reshape the buyer experience—they influence seller outcomes as well. In the Q1 2026 detached market, cumulative days on market (CDOM) increased 11.26%, and the current rate environment suggests that upward pressure on market times may persist. As affordability tightens and the pool of qualified buyers shrinks, homes that would have moved quickly in a lower‑rate environment may begin to sit longer, particularly in segments where pricing is already stretched.

This week’s 7.18% rate keeps financing conditions near the most challenging level of 2026, reinforcing the same dynamic: fewer qualified buyers, more selective demand, and a market where pricing precision matters. This does not necessarily imply an abrupt market slowdown, but it does suggest sellers should expect a more deliberate buyer pool and be prepared for longer market times.

TIP: Total Interest Paid — Why Small Rate Moves Matter

Total Interest Paid (TIP) is one of the clearest ways to understand how mortgage rates shape long‑run affordability. While buyers shop based on monthly payment, the lifetime cost of borrowing moves far more dramatically than the payment itself. Even small rate changes can add—or remove—tens of thousands of dollars in interest over the life of a loan.

At this week’s 7.18% rate, the lifetime interest on a standard Portland Region purchase sits far above the levels buyers saw during the pandemic and substantially higher than the lows recorded earlier this year. The difference between a 5.98% environment and a 7.18% environment may appear manageable when viewed as a weekly rate chart, but over a 30‑year loan the additional interest compounds into a significant increase in total repayment. This is the type of change that can materially affect long‑run household finances across the Portland Region.

This is why TIP matters: it captures the hidden cost of rising rates. Buyers feel the payment, but the long‑run financial burden is embedded in the interest curve. As the charts below show, the 2026 rate path has pushed TIP to the highest levels of the year, even as monthly payment changes appear more gradual. The cumulative effect is what reshapes affordability—a dynamic that becomes especially clear when comparing TIP across different rate environments.

2026 YTD Total Interest Paid

Note: The y-axis starts at $480,000 to allow better examination of weekly differences.

The 2026 YTD TIP chart shows how sharply lifetime borrowing costs have increased as mortgage rates moved higher throughout the year. These calculations are based on the total interest a buyer would pay on the Q1 2026 Portland Region median-priced home of $580,000, assuming a 20% down payment and applying the rate effective in each week. This isolates the impact of rate movements alone, holding price and loan structure constant.

The low point came on February 26, when a 5.98% mortgage rate produced a total interest burden of $535,342. As rates moved higher through the spring and summer, TIP increased steadily, crossing $600,000 in July and accelerating sharply during the past several weeks as mortgage rates pushed to new highs.

The current 7.18% mortgage rate produces a total interest burden of $667,584, near the highest reading of 2026. Compared with the February low, that represents an increase of $132,245 in lifetime interest—a change driven entirely by mortgage rates rather than home prices.

The shape of the chart makes the pattern unmistakable. Buyers naturally focus on the monthly payment, but the lifetime interest curve tells a different story. By spreading borrowing costs across a 30-year loan term, even relatively small changes in mortgage rates accumulate into meaningful differences in total repayment. This long-run perspective is what makes TIP such a useful complement to traditional affordability measures.

TIP per $1 Borrowed

Note: The y-axis starts at $1.00 to allow better examination of weekly differences.

The TIP-per-$1 chart shows how much interest a buyer pays for every dollar borrowed at different mortgage rates. This is one of the clearest ways to visualize the long-run cost of financing. At the year-to-date low of 5.98%, each dollar borrowed generated approximately $1.1538 in interest over the life of the loan. As rates moved higher throughout the year, that figure increased steadily, reflecting the growing cost of mortgage debt.

This week’s 7.18% rate produces $1.4388 of interest for every $1 borrowed, close to the highest reading of 2026. Put differently, a borrower would repay substantially more in interest than in principal over the life of the loan. For example, a borrower financing $100,000 would pay roughly $143,880 in interest over the life of a 30-year fixed mortgage held to maturity, resulting in a total repayment of approximately $243,880.

The chart highlights how the cumulative cost of borrowing has accelerated in recent weeks. While buyers often focus on monthly payment, the TIP-per-$1 metric illustrates the long-run consequences of higher rates by converting abstract percentage changes into dollars and cents. As mortgage rates rise, each borrowed dollar carries a larger lifetime interest obligation, increasing the total cost of homeownership even when home prices remain unchanged.

Regional Interest Delta (RID)

The Regional Interest Delta (RID) models how much total lifetime interest the Portland Region’s Q1 detached‑home buyers would collectively pay when mortgage rates shift. To keep the metric consistent, RID assumes that all 3,349 Q1 detached sales were financed under standard 20%‑down, 30‑year conventional underwriting, even though the actual dataset includes cash purchases and loans under FHA, VA, jumbo, and other programs. Rates are matched to each home’s close date to reflect the real timing of rate movements, but individual buyers may have locked slightly different rates depending on their specific loan terms. This approach provides a clean, apples‑to‑apples way to measure how rate changes affect the region’s total interest burden.

Actual Q1 2026 PipelineActual rate matched to close date$2,091,901,976—
Modeled at Current Rate7.18%$2,541,031,508+$449,129,532
The Regional Interest Delta (RID) is a modeled estimate assuming all Q1 2026 detached sales were financed under standard 20%-down, 30-year conventional terms. Actual loan terms may vary.
Single-family Detached | Q1 2026
Data: RMLS (3,349 observations) | PortlandAppraisalBlog.com

Using those actual matched rates, the region’s Q1 2026 pipeline will generate $2,091,901,976 in lifetime interest. Recomputing the same loans at the current 7.18% rate increases the total to $2,541,031,508. The difference—the Regional Interest Delta (RID)—is $449,129,532 in additional lifetime interest.

To put that number in perspective: $152 million is the estimated cost of hollywoodHUB, a 222-unit affordable housing development in Portland. The current RID is nearly3 times that amount. In other words, applying this week’s mortgage rate environment to a single quarter of Portland Region detached home sales generates nearly 450 million dollars in additional lifetime interest compared with the actual financing conditions buyers experienced during Q1.

RID makes the scale of rate changes unmistakable. What begins as a higher monthly payment for an individual buyer becomes a massive financial shift when applied across thousands of loans. While households experience rising rates through reduced purchasing power, higher qualification thresholds, and larger lifetime interest obligations, RID reveals the broader regional impact: more than half a billion dollars in additional lifetime interest could be generated if the entire Q1 2026 pipeline were financed under the current mortgage rate environment.

Payment Delta

The Payment Delta shows how monthly affordability shifts as mortgage rates move. Using the Q1 2026 Portland Region median‑priced home of $580,000 with a 20% down payment, the monthly principal‑and‑interest payment changes meaningfully even with small rate movements.

DateRateMonthly P&IPayment Delta
Feb 26, 2026 – YTD Low5.98%$2,775.95—
Oct 15, 2026 – YTD High7.40%$3,212.64$436.69
Oct 29, 2026 – Last Week7.24%$3,162.15$386.20
Nov 5, 2026 – Current Week7.18%$3,143.30$367.35
Payment Delta reflects the change from the year‑to‑date low on February 26.
Monthly payment for home using median Q1 2026 detached home price ($580,000) and 20% down.
Primary Mortgage Market Survey® (PMMS®)
Data: Freddie Mac | PortlandAppraisalBlog.com

Monthly payments remain meaningfully higher than the February low and now sit well above the region’s Maximum Sustainable Payment (MSP) of $2,895.67. At the year-to-date low on February 26, a 5.98% mortgage rate produced a monthly principal-and-interest payment of $2,775.95, comfortably below the affordability ceiling.

This week’s 7.18% rate puts that payment at $3,143.30, an increase of $367.35 per month relative to the February low and $247.63 above the MSP. This figure reflects principal and interest only; including taxes, insurance, HOA dues, and mortgage insurance (if applicable) would increase the monthly housing obligation further.

For many households, finding an extra $367 every month is not a trivial adjustment. Higher housing costs often compete directly with discretionary spending, savings goals, retirement contributions, vacations, entertainment, and other components of the household budget.

While Payment Delta is smaller in scale than the lifetime borrowing costs shown in the TIP and RID sections, it is the metric buyers experience most directly. For many households, rising payments affect not only what they can afford, but also where they can buy and which housing options remain within reach.

Purchasing Power

The table below shows how purchasing power has changed since the year‑to‑date low, based on a range of monthly P&I budgets. At February’s 5.98% rate, buyers could finance meaningfully more than they can at this week’s 7.18% rate.

Target Monthly P&I BudgetPurchasing Power at YTD Low Rate (5.98%)Purchasing Power at 7.18% RateChange in YTD Low Purchasing Power
$2,000$417,875$369,039-$48,836
$2,500$522,344$461,299-$61,045
$3,000$626,812$553,559-$73,253
$3,500$731,281$645,819-$85,462
$4,000$835,750$738,078-$97,671
$4,500$940,218$830,338-$109,880
$5,000$1,044,687$922,598-$122,089
$5,500$1,149,156$1,014,858-$134,298
$6,000$1,253,624$1,107,118-$146,507
Purchasing power comparison assumes 20% down and reflects principal and interest (P&I) only. Calculations use the YTD low rate (5.98%) and this week’s rate (7.18%) across common monthly P&I budgets. Actual purchasing power is lower once taxes, insurance, and HOA dues are included.
Rates are based on the Primary Mortgage Market Survey® (PMMS®)
Data: Freddie Mac | PortlandAppraisalBlog.com

Purchasing power has fallen by $48,836 to $146,507 since the year-to-date low, depending on the monthly budget. For many buyers in the Portland Region—especially those shopping near the Q1 2026 median price of $580,000—the relevant range is often $2,500 to $3,000 in monthly principal-and-interest payments. Within that range, purchasing power has declined by approximately $61,045 to $73,253, highlighting how rising rates reduce borrowing capacity even when household income remains unchanged.

It’s also important to remember that these figures reflect principal and interest only. Actual purchasing power is lower once property taxes, insurance, HOA dues, and other housing costs are included. These expenses can further reduce the effective price range available to buyers.

The practical effect is straightforward: buyers can qualify for less house than they could earlier in the year. A household that could support a given monthly payment in February can now finance substantially less at the current rate. That shift often forces buyers to make tradeoffs involving location, home size, condition, or housing type, even if their budget has not changed.

For sellers, declining purchasing power can translate into softer demand at certain price points and increased sensitivity to pricing. As financing capacity contracts, buyers become more selective and may seek concessions, credits, or rate buydowns to offset the impact of higher borrowing costs.

Payment Milestones

The table below shows the key payoff milestones for a loan originated this month, with the first payment due on the first of next month. Each milestone reflects how much of the loan has been repaid and how much interest has accrued by that point at this week’s 7.18% rate.

Milestone% of Loan PaidCalendar DateInterest Paid to Date
Early Repayment10%Oct-2034$251,841
Quarter Paid25%Sep-2041$443,463
Half Paid50%Oct-2048$593,495
Three-Quarters Paid75%Jun-2053$652,696
Payment milestone assumptions: Schedule assumes a loan originated in November 2026 with the first payment due December 1, 2026. Amortization is based on the Q1 2026 detached median price ($580,000) with 20% down, using the current 7.18% rate from the Primary Mortgage Market Survey® (PMMS®)
Data: Freddie Mac | PortlandAppraisalBlog.com

These milestones illustrate how interest-heavy the amortization schedule remains at the 7.18% rate. A borrower does not reach 10% repayment through principal repayment alone until October 2034, after approximately $251,841 in cumulative interest has already been paid. The loan is not 50% repaid until October 2048, by which point total interest paid reaches approximately $593,495.

The pattern reflects a fundamental characteristic of fixed-rate mortgage amortization: interest dominates the early years of the loan, while principal reduction accelerates later in the schedule. By the time the loan reaches the 75% repaid milestone in June 2053, most lifetime interest has already been paid and the remaining payments are increasingly directed toward principal.

These milestones help explain why mortgage rates have such a powerful influence on long-run affordability. Higher rates increase the share of each early payment devoted to interest, slowing principal reduction and extending the time required to build meaningful equity through amortization alone.

Closing Thoughts

The story of this week is straightforward: mortgage rates dipped slightly, dropping the 30‑year fixed to 7.18%, very close to the highest reading of 2026. The effects are visible across every major affordability metric. The Portland Appraisal Blog Affordability Index (PABAI) continues to signal structural strain for median‑income households, while the recalculated Q1 data illustrates how higher financing costs reduce qualifying power, increase housing burden, and shrink the share of homes accessible to a typical buyer.

For buyers, the takeaway is simple: affordability conditions have become increasingly restrictive. The Purchasing Power analysis shows that buyers can afford substantially less house than they could at the February rate low, even when their monthly budget remains unchanged. The Payment Delta illustrates the same challenge from another angle, with the monthly principal and interest payment on a median‑priced home now more than $367 higher than it was at the year‑to‑date low.

For sellers, the implications are more nuanced but no less important. Reduced purchasing power and higher monthly payments mean buyers often become more selective and increasingly sensitive to pricing. Homes that are appropriately priced and well positioned within their market segment can still attract demand, but elevated financing costs leave less room for error than in lower‑rate environments.

The broader lesson is that mortgage rates influence affordability in multiple ways simultaneously. Higher rates increase monthly payments, reduce purchasing power, delay equity accumulation, and expand the long‑run cost of borrowing. Whether viewed through PABAI, Payment Delta, TIP, RID, Purchasing Power, or the Payment Milestones analysis, the conclusion remains consistent: the Portland Region is operating under the most restrictive financing conditions of 2026—and buyers, sellers, and market participants are all adapting to that reality.

Sources & Further Reading

All data presented in this weekly mortgage rate update is based on the Q1 2026 detached homes segment. The data is sourced directly from RMLS and has been subjected to rigorous cleaning and validation processes to ensure reliability for detached single-family residential analysis in the six-county Portland Region. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

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Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

About the Author — Abdur Abdul‑Malik, SRA, ASA

Abdur Abdul‑Malik is the founder, author, and publisher of the Portland Appraisal Blog, where he produces original regional and neighborhood‑level housing analytics for the Portland Region. He is a certified residential appraiser serving Oregon and Washington, drawing on RMLS transaction data, public records, and custom segmentation models he has built.

He developed the Portland Appraisal Blog Affordability Index (PABAI), a payment‑based affordability metric built from actual RMLS sales. PABAI incorporates weekly updates based on the prevailing 30‑year fixed mortgage rate, providing a locally grounded measure of housing affordability across the region.

Learn more → PABAI explainer • mortgage rate series • full author bio

City of Maywood Park Housing Market Snapshot – 2025

Maywood Park, one of the smallest housing markets in the Portland region, generated approximately $4.8 million in residential sales volume during 2025 across just 9 detached-home transactions. Despite limited affordable sales, required-income analysis suggests the community remained more attainable than many higher-priced Portland-area markets.

About This Snapshot

This snapshot summarizes residential sales occurring within the official City of Maywood Park limits during calendar year 2025 (with some comparisons to calendar year 2024). While all four major housing segments were searched, Maywood Park only reported detached-home sales. Data are sourced from RMLS and have undergone a rigorous cleaning and validation process. For additional information regarding data cleaning procedures and common MLS data challenges, see the dedicated page: RMLS Data Accuracy Challenges.

Tables in this snapshot cover important metrics such as:

  • Sales price to original list price: SP/OLP
  • Price per square foot (total square footage): PPSF (TSF)
  • Cumulative days on market: CDOM
  • Average lot size in acres: ac

Market Overview

Located in northeast Multnomah County near the base of Rocky Butte, Maywood Park is one of the smallest incorporated cities in the Portland metropolitan area, encompassing approximately 0.2 square miles and fewer than 1,000 residents. Originally developed beginning in the late 1920s as a planned residential subdivision modeled after Portland’s Laurelhurst and Eastmoreland neighborhoods, the community developed a distinct identity separate from the surrounding Parkrose area.

Maywood Park incorporated in 1967 during efforts to prevent the construction of Interstate 205 through the neighborhood. Although the freeway was ultimately built and removed a portion of the original subdivision, the city retained its independent municipal status and remains entirely surrounded by Portland. Today, Maywood Park continues to function primarily as a small residential community with a unique history and clearly defined city boundaries.

Detached Homes Market Statistics

The following table compares detached-home sales activity occurring within Maywood Park city limits during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$3,309,800$4,813,899+45.44%
Average Price$551,633$534,878-3.04%
Median Price$584,950$499,999-14.52%
Avg SP/OLP93.26%98.19%+4.93 pts
Avg PPSF (TSF)$211.73$196.32-7.28%
Avg Total SF2,6032,743+5.36%
Avg Lot Size (ac)0.19330.1933No Change
Avg Age (Yrs)88.1787.33-0.83 years
Avg CDOM22.1742.67+20.50 days
Total # of Sales69+3 homes
# of New Constr.00No Change
# Affordable11No Change
% Affordable16.67%11.11%-5.56 pts
Min Required Income$68,718$120,685+75.62%
Avg Required Income$146,304$141,157-3.52%
City of Maywood Park
Single-Family Detached Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

How affordability is defined: The Portland Appraisal Blog Affordability Index (PABAI) was used to evaluate affordability during the study period. PABAI calculates the income needed to buy each home using its actual reported price, taxes, HOA dues, and an insurance estimate, financed at the Freddie Mac 30-year rate in effect at the time of sale. A home is considered affordable if the required income does not exceed the HUD median family income for the Portland-Vancouver-Hillsboro MSA in effect at the time of sale.

With only 9 detached-home sales in 2025 and 6 in 2024, individual transactions exerted a meaningful influence on annual statistics. Total dollar volume increased 45.4%, largely reflecting the increase in sales activity rather than a substantial change in pricing. Average sale price declined just 3.0% year-over-year, while an investigation into individual transactions suggests the larger decline in median price was influenced by transaction mix. Most 2025 sales clustered near the $500,000 mark, whereas the smaller 2024 sample included a greater concentration of higher-priced transactions.

Affordability remained relatively stable. Although only 1 sale met the PABAI affordability threshold in each year, the average required household income declined slightly to approximately $141,000. While still above regional median family income levels, the affordability gap remained modest compared to many higher-priced Portland-area communities.

The detached housing stock that sold remained remarkably consistent between years. Average lot size was unchanged, average living area increased modestly, and the typical home sold was nearly 90 years old. No new-construction sales were reported in either year. Average cumulative days on market increased from 22 to 43 days; however, an investigation into individual transactions found that much of the increase was attributable to a single property that remained on the market for nearly 6 months. Excluding that sale, average marketing time would have been approximately 26 days.

Detached Homes Scatter Plot

The following scatter plot provides a visual overview of detached-home sales occurring during 2025. Each point represents a single sale and illustrates the relationship between sale price and total square footage, with dots sized by acreage.

The 2025 detached-home market was remarkably compact, with 8 of 9 sales clustering within a relatively narrow range of home sizes and sale prices. A few properties featured larger-than-average lots, but only one sale stood apart from the rest of the market, closing at approximately $780,000 and establishing the upper end of the year’s price range.

Key Takeaways

Maywood Park’s housing market is best understood through the lens of scarcity. With fewer than 1,000 residents and only 9 residential sales during 2025, the city is one of the smallest housing markets in the Portland metropolitan area. Several months passed without a single residential sale, making it unsurprising that individual transactions exerted a meaningful influence on annual market statistics.

Although only 1 sale met affordability thresholds in both 2024 and 2025, the average required household income remained relatively close to regional median family income levels. While affordability challenges persist, the gap between the income required to purchase the average home and area median incomes was narrower than many buyers might expect based solely on the number of affordable sales.

Geography also helps distinguish Maywood Park from other small housing markets. Despite functioning as an independent city, it is entirely surrounded by Portland, providing residents with convenient access to employment centers, commercial services, parks, and transportation corridors throughout the metropolitan area. This combination of a small residential setting and close proximity to urban amenities continues to shape the community’s housing market.

Sources & Further Reading

All data presented in this housing market snapshot is sourced directly from RMLS and has been subjected to a rigorous cleaning and validation process to ensure reliability for single-family residential analysis for the City of Maywood Park. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Boundary Definition: Analysis boundaries were established using the official Census Bureau map.

Coda

Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Maywood Park or anywhere in the Portland Region, we’d be glad to assist.

About the Author — Abdur Abdul‑Malik, SRA, ASA

Abdur Abdul‑Malik is the founder, author, and publisher of the Portland Appraisal Blog, where he produces original regional and neighborhood‑level housing analytics for the Portland Region. He is a certified residential appraiser serving Oregon and Washington, drawing on RMLS transaction data, public records, and custom segmentation models he has built.

He developed the Portland Appraisal Blog Affordability Index (PABAI), a payment‑based affordability metric built from actual RMLS sales. PABAI incorporates weekly updates based on the prevailing 30‑year fixed mortgage rate, providing a locally grounded measure of housing affordability across the region.

Learn more → PABAI explainer • mortgage rate series • full author bio

The Villages at Mount Hood & Government Camp Housing Market Snapshot – 2025

The 2025 Villages at Mount Hood and Government Camp housing market generated 120 residential sales and nearly $75 million in dollar volume. Detached homes remained the dominant housing type. More than 61% of residential sales contained vacation-, rental-, or investment-related marketing themes, reflecting the corridor’s distinctive role as both a residential community and recreation-oriented housing market.

About This Snapshot

This snapshot summarizes residential sales occurring within the Villages at Mount Hood & Government Camp market area during calendar year 2025 (with some comparisons to calendar year 2024). Because the study area spans several small communities rather than a single municipality, the analysis is organized around properties using postal addresses associated with Brightwood, Government Camp, Rhododendron, and Welches. Included property types are detached homes, attached homes, condominiums, and manufactured homes on owned land. Data are sourced from RMLS and have undergone a rigorous cleaning and validation process. Manufactured homes located in leased-space parks and U.S. Forest Service leased cabins are not included in this analysis. For additional information regarding data cleaning procedures and common MLS data challenges, see the dedicated page: RMLS Data Accuracy Challenges.

Note: Wemme and Zigzag are well-established communities within the Villages at Mount Hood, but neither has had its own post office since 1977 and 1974, respectively. Because RMLS city fields follow postal addressing, homes in these communities are generally recorded under Welches and Rhododendron. This snapshot therefore reports activity by postal city and cannot separate sales within Wemme or Zigzag themselves.

Tables in this snapshot cover important metrics such as:

  • Sales price to original list price: SP/OLP
  • Price per square foot (total square footage): PPSF (TSF)
  • Cumulative days on market: CDOM
  • Average lot size in acres: ac

Market Overview

The Villages at Mount Hood & Government Camp market area consists of a collection of small communities located along the Mount Hood Corridor in Clackamas County, Oregon. The Mount Hood Village CDP, which includes Brightwood, Welches, Wemme, Zigzag, and Rhododendron, had a reported population of approximately 4,864 residents according to the 2010 Census, while Government Camp reported a population of 179 residents in the 2020 Census. Despite their small populations, these communities support an active housing market influenced by both year-round residency and the area’s role as a gateway to Mount Hood recreation.

Located approximately one hour east of Portland along U.S. Route 26, the corridor provides convenient access to outdoor destinations such as Timberline Lodge, Mount Hood Skibowl, and Mount Hood Meadows. Government Camp is the closest community to the mountain and serves as the region’s primary ski town, while the Villages at Mount Hood provide a mix of residential neighborhoods, mountain retreats, and housing opportunities throughout the corridor. As a result, the local housing market differs from many suburban Portland-area communities, combining permanent residential ownership with housing that benefits from proximity to recreation, tourism, and seasonal visitation.

The Villages at Mount Hood & Government Camp Residential Market Snapshot

The following table summarizes residential sales occurring within the Villages at Mount Hood & Government Camp during calendar year 2025. Included property types are detached homes, attached homes, condominiums, and manufactured homes on owned land. Together, these four segments provide a high-level overview of the area’s residential market.

CategoryDetachedAttachedCondoManuf.
Total  Dollar Volume$64,555,956$1,196,000$5,545,950$3,600,000
Average Price$665,525$598,000$462,163$400,000
Average PPSF (Total SF)$401.60$326.66$384.24$274.00
Average Total SF1,7951,8311,1841,596
Average Lot Size (ac)0.730.110.000.51
Average Age (Yrs)48.6618.0042.2519.00
Average CDOM66.43126.5099.0078.44
Total # of Sales972129
% of Market80.83%1.67%10.00%7.50%
Highest Sale$2,599,000$610,000$800,000$515,000
Lowest Sale$301,000$586,000$267,000$320,000
# Affordable28088
% Affordable28.87%0.00%66.67%88.89%
The Villages at Mount Hood & Government Camp
January 2025 – December 2025 (120 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

The Villages at Mount Hood & Government Camp market generated 120 residential sales during 2025, producing nearly $75 million in residential dollar volume. Detached homes dominated activity, accounting for 97 sales (80.8% of all residential transactions) and 86.2% of residential dollar volume. Condominiums and manufactured homes represented meaningful secondary segments, while attached housing activity remained limited with only 2 sales in 2025 and none in 2024.

Four communities generated residential sales during 2025, with Wemme and Zigzag embedded within them. The sections that follow examine how activity varied across housing types and communities, providing a closer look at marketing, affordability, infrastructure, recreation-oriented influences, and other characteristics that help define the Mount Hood corridor housing market.

Vacation & Investment-Oriented Marketing

Housing statistics alone do not always capture how a market is positioned to prospective buyers. To better understand the character of the Villages at Mount Hood & Government Camp market, listing remarks were reviewed for themes related to vacation use, rental opportunities, short-term rentals, and investment potential. The following table summarizes the number of residential sales containing these themes during 2025. Each row represents an independent search, meaning individual properties may be counted in multiple categories. The final row identifies sales containing at least one of the listed themes.

Market Terms# of Sales% of 2025 Market (120 Sales)
Vacation3025.00%
Vacation Rental1613.33%
Rental5344.17%
Airbnb/VRBO1512.50%
Investment/Income3327.50%
Short-Term/STRs3226.67%
Any of the Above7461.67%
Marketing Term Word Search
The Villages at Mount Hood & Government Camp
January 2025 – December 2025 (120 total residential sales).
Data: RMLS | PortlandAppraisalBlog.com

The results indicate that vacation use, rental opportunities, and investment potential are important components of the Mt. Hood corridor housing market. Terms associated with rentals, investments, vacation use, and short-term rentals appeared frequently throughout residential listings, suggesting these characteristics are meaningful considerations for many market participants.

Most notably, 74 of 120 residential sales (61.7%) contained at least one vacation-, rental-, Airbnb/VRBO-, short-term rental-, or investment-related marketing theme. While actual use of acquired properties may vary, these findings indicate that listing agents repeatedly emphasized recreational ownership, second-home potential, and supplemental rental income when marketing properties within the corridor. Combined with the area’s proximity to Mount Hood recreation amenities, the results help explain why the Villages at Mount Hood & Government Camp housing market differs from many traditional suburban housing markets.

Detached Homes

Detached homes represent the largest and most active residential housing segment in the Villages at Mount Hood & Government Camp. Because detached properties accounted for more than 8 out of 10 sales during 2025, this segment provides the clearest view of local market conditions.

Detached Homes Market Statistics

The following table compares detached-home sales activity occurring within the Villages at Mount Hood & Government Camp market area during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$56,102,017$64,555,956+15.07%
Average Price$660,024$665,525+0.83%
Median Price$580,000$600,000+3.45%
Avg SP/OLP95.233%94.715%-0.518 pts
Avg PPSF (TSF)$426.08$401.60-5.75%
# in HOA2330+7 homes
Avg HOA Dues$67.96$87.34+28.52%
Avg Total SF1,6891,795+6.28%
Avg Lot Size (ac)0.73480.7309-0.52%
Avg Age (Yrs)51.8448.66-3.18 years
Avg CDOM50.5666.43+15.87 days
Total # of Sales8597+12 homes
# of New Constr.43-1 home
# Affordable2128+7 homes
% Affordable24.71%28.87%+4.16 pts
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues. All other metrics use the full dataset for each year.
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Detached-home activity increased during 2025, rising from 85 sales in 2024 to 97 sales in 2025 (+14.1%). As a result, total detached-home dollar volume increased 15.1% and exceeded $64.5 million. While pricing metrics generally remained stable, average home size increased from 1,689 square feet to 1,795 square feet, contributing to a modest decline in average price per square foot. New construction activity remained limited relative to the overall market, accounting for just three sales during 2025.

Marketing times increased during 2025, with cumulative days on market rising from about 51 days to approximately 66 days. HOA representation also increased, with 30 detached-home sales (30.9%) located within homeowner associations compared with 23 sales during 2024. Although average HOA dues increased to $87.34 per month, they remained relatively modest by regional standards. Review of listing remarks indicates that HOA benefits frequently extended beyond traditional amenities, often including services such as road maintenance, water, sewer, and snow removal. Within a mountain community where winter weather can affect access, these services may be particularly valuable to some homeowners.

Detached Homes Sales by City

The following table summarizes where detached-home sales occurred during 2025. While the study area includes six communities, market activity was not evenly distributed.

City# of Sales% of 2025 Detached Market
Brightwood1010.31%
Government Camp88.25%
Rhododendron4950.52%
Welches3030.93%
Total Sales97—
Sales Count by City
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Detached-home activity was concentrated in just two communities. Rhododendron accounted for 49 sales (50.5%), while Welches contributed 30 sales (30.9%). Combined, these two communities generated 79 of 97 detached-home sales (81.4%), making them the primary drivers of detached-housing activity within the Mount Hood Villages & Government Camp market area.

Brightwood and Government Camp represented smaller but still meaningful portions of the market, accounting for 10.3% and 8.3% of detached-home sales, respectively.

Detached Homes Sales by Price Range

The following table summarizes detached-home sales occurring within the Villages at Mount Hood & Government Camp market during 2025 by price range. In addition to the number of sales, the table highlights the average price, typical size, construction era, and typical lot size within each price band.

Price Range# of SalesAvg Close PriceAvg Total SFAvg Year BuiltAvg Acres
<300K0————
300K – 349K5$326,80095319390.311
350K – 399K11$379,5301,11319620.363
400K – 449K8$419,50096519600.364
450K – 499K11$477,4041,45719590.620
500K – 549K6$523,5831,56819800.597
550K – 599K7$580,8571,95819860.446
600K – 649K8$623,2501,99119760.627
650K – 699K8$670,7501,86419860.661
700K – 749K9$720,9972,06819860.913
750K – 799K5$768,0002,03120001.470
800K – 849K1$825,00097019521.470
850K – 899K5$881,7002,39619860.642
900K – 949K2$918,3502,60920001.090
950K – 999K2$974,5002,05619910.213
1,000K – 1,049K1$1,025,0001,83219770.120
1,050K – 1,099K2$1,066,5003,44019956.150
1,100K – 1,149K0————
1,150K – 1,199K0————
≥ 1,200K6$1,679,0003,28020050.556
Total/Avg97$665,5251,79519760.7309
Note: The Total/Avg row reports total sales and all other columns represent averages for the study period.
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Detached-home sales ranged from $301,000 to $2,599,000 during 2025, illustrating the diverse nature of the Mount Hood corridor housing market. While a meaningful upper-end segment existed, most activity remained concentrated below $750,000, where 73 of 97 sales (75.3%) occurred. The median sale price of $600,000 and modal sale price of $725,000 further indicate that most detached-home transactions occurred within the market’s lower and middle price tiers.

The table also illustrates how property characteristics generally changed as prices increased. Lower-priced sales tended to consist of smaller homes built in earlier decades, while higher-priced properties often offered larger living areas, newer construction dates, greater land area, or a combination of these characteristics. Although sales exceeding $1 million accounted for less than ten percent of the detached-home market, they remained an important component of the corridor’s housing mix, with nine sales occurring above that threshold.

Detached Homes Scatter Plot

The following scatter plot provides a visual overview of detached-home sales occurring during 2025. Each point represents a single sale and illustrates the relationship between sale price and date of sale.

The scatter plot reinforces several themes already identified within the detached-home market. Most sales occurred below $750,000, with transaction density gradually declining as prices increased. While detached-home sales ranged from approximately $301,000 to $2.6 million, the gap between the upper-end market and the majority of transactions is readily apparent.

The graph shows a nearly month-long period where no detached-home sales occurred. From January 25 through February 23, 2025, no closed sales were recorded within this housing segment. However, market activity continued during this period, as homes were still being listed and going under contract. February, while a relatively weak month for both closed sales and new listings, still saw 8 detached homes go pending.

Detached Homes Water & Wastewater Infrastructure

Water supply and wastewater disposal can be important considerations in mountain community housing markets. The following tables summarize the primary water and wastewater systems reported for detached-home sales occurring within the Villages at Mount Hood & Government Camp.

Water Type# of Sales% of 2025 Market
Public Water2323.71%
Community Water5354.64%
Well1212.37%
Shared Well66.19%
Spring33.09%
Grand Total97—
Note: Water type is as reported by agents.
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Community water systems were the most common water source for detached-home sales during 2025, serving 53 properties (54.6%). Public water accounted for an additional 23.7% of sales, meaning nearly 4 of 5 detached-home transactions relied on either community or public water systems. Wells, shared wells, and spring-fed systems remained present throughout the corridor, illustrating the diverse infrastructure characteristics that buyers may encounter within the Villages at Mount Hood & Government Camp market.

Wastewater Type# of Sales% of 2025 Market
Public Sewer3536.08%
Community99.28%
Septic4647.42%
Cesspool44.12%
Other33.09%
Grand Total97—
Note: Sewer type is as reported by agents.
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Wastewater infrastructure was more evenly distributed. Septic systems were the most common arrangement, serving 46 detached-home sales (47.4%), followed by public sewer connections at 36.1%. Community wastewater systems accounted for an additional 9.3% of sales. Collectively, these figures indicate that detached-home buyers in the Mount Hood corridor are more likely to encounter private or community-based wastewater solutions than buyers in many suburban housing markets, where public sewer service is often the dominant arrangement.

Detached Homes Required Income & Affordability

The following represents affordability and required income findings for detached homes during 2025 under the Portland Appraisal Blog Affordability Index (PABAI) framework.

MetricValue
Total Sales (Detached)97
# of Affordable Sales28
% Affordable28.87%
Minimum Required Income$77,846
Average Required Income$170,883
Median Required Income$157,132
Maximum Required Income$650,145
Affordable homes determined using PABAI.
The Villages at Mount Hood & Government Camp
Single-Family Detached Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

How affordability is defined: The Portland Appraisal Blog Affordability Index (PABAI) was used to evaluate affordability during the study period. PABAI calculates the income needed to buy each home using its actual reported price, taxes, HOA dues, and an insurance estimate, financed at the Freddie Mac 30-year rate in effect at the time of sale. A home is considered affordable if the required income does not exceed the HUD median family income for the Portland-Vancouver-Hillsboro MSA in effect at the time of sale.

Despite affordability challenges, detached-home ownership opportunities remained available throughout the corridor. The minimum required income of $77,846 demonstrates that some detached homes remained accessible to households earning below the area’s median family income, though such opportunities were relatively limited. Conversely, the wide gap between the minimum and maximum required incomes highlights the diversity of the detached-home market, which includes both modest mountain cabins and high-end recreational or luxury properties. As subsequent housing segments will demonstrate, detached homes generally required substantially higher incomes than condominiums and manufactured homes.

Condominium Housing

Condominiums represent a very small segment within the Villages at Mount Hood & Government Camp residential market. Due to the limited number of sales, the results are best viewed as descriptive measures of market activity rather than indicators of broader market trends.

Condominium Housing Market Statistics

The following table compares condominium sales activity occurring within the Villages at Mount Hood & Government Camp market during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$8,566,700$5,545,950-35.26%
Average Price$611,907$462,163-24.47%
Median Price$617,500$361,000-41.54%
Avg SP/OLP95.58%96.88%+1.30 pts
Avg PPSF (TSF)$464.96$384.24-17.36%
# in HOA1412-2 homes
Avg HOA Dues$557.00$493.83-11.34%
Avg Total SF1,3581,184-12.79%
Avg Age (Yrs)40.7942.25+1.46 years
Avg CDOM59.4399.00+39.57 days
Total # of Sales1412-2 homes
# of New Constr.00No Change
# Affordable38+5 homes
% Affordable21.43%66.67%+45.24 pts
Min Required Income$100,774$91,654-9.05%
Avg Required Income$182,469$138,877-23.89%
All metrics use the full dataset for each year (including HOA dues).
The Villages at Mount Hood & Government Camp
Condominium Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium activity remained limited during 2025, with only 12 sales occurring throughout the Villages at Mount Hood & Government Camp market. Total dollar volume declined 35.3%, while average and median sale prices decreased 24.5% and 41.5%, respectively. However, these changes should be interpreted cautiously given the small number of transactions. The average condominium sold during 2025 was also smaller than the average unit sold during 2024 (1,184 SF versus 1,358 SF), indicating changes in the mix of properties sold influenced several pricing metrics.

Affordability improved substantially within the condominium segment. The number of affordable sales increased from 3 to 8, while the affordability rate rose from 21.4% to 66.7%. Average required income declined from approximately $182,500 to $138,900, placing condominiums among the more attainable ownership options within the broader Mount Hood corridor market. Marketing times increased from approximately 59 days to 99 days, though sellers generally maintained favorable negotiating positions, with average sale-to-original-list-price ratios remaining near 97%, an improvement over 2024.

Condominium Housing by City

The following table summarizes where condominium sales occurred during 2025. While the study area includes six communities, market activity was not evenly distributed.

City# of Sales% of 2025 Condo Market
Brightwood00.00%
Government Camp433.33%
Rhododendron00.00%
Welches866.67%
Total Sales12—
Sales Count by City
The Villages at Mount Hood & Government Camp
Condominium Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Condominium activity was concentrated entirely within Welches and Government Camp during 2025. Welches accounted for 8 sales (66.7%), while Government Camp contributed the remaining 4 sales (33.3%). No condominium sales were recorded in Brightwood, or Rhododendron during the study period.

The concentration of sales within just two communities helps explain some of the volatility observed in the condominium statistics. Government Camp generally contains many of the corridor’s most recreation-oriented and highest-priced condominium developments. During 2024, Government Camp accounted for 9 of 14 condominium sales (64.3%), while only 4 sales occurred there during 2025. As a result, changes in the mix of units sold contributed to lower average prices, lower required incomes, and improved affordability metrics observed within the 2025 condominium market.

Manufactured Homes

Manufactured homes represented a small portion of the Villages at Mount Hood & Government Camp residential market during 2025, accounting for less than 1 out of 10 residential sales. As with condominiums, due to the limited number of sales, the results are best viewed as descriptive measures of market activity rather than indicators of broader market trends.

Manufactured Homes Market Statistics

The following table compares manufactured-home sales activity occurring within the Villages at Mount Hood & Government Camp market area during 2024 and 2025. Metrics include the number of sales, total dollar volume, pricing, property characteristics, marketing times, and affordability.

Category20242025Change
Total $ Volume$2,872,900$3,600,000+25.31%
Average Price$410,414$400,000-2.54%
Median Price$375,000$399,000+6.40%
Avg SP/OLP90.526%95.404%+4.878 pts
Avg PPSF (TSF)$288.08$274.00-4.89%
# in HOA25+3 homes
Avg HOA Dues$50.00$45.00-10.00%
Avg Total SF1,6321,596-2.18%
Avg Lot Size (ac)1.010.51-49.62%
Avg Age (Yrs)21.8619.00-2.86 years
Avg CDOM59.5778.44+18.87 days
Total # of Sales79+2 homes
# of New Constr.11No Change
# Affordable68+2 homes
% Affordable85.71%88.89%+3.18 pts
Min Required Income$78,189$80,752+3.28%
Avg Required Income$107,820$102,699-4.75%
Note: The calculated average HOA dues is for sales reporting nonzero HOA dues. All other metrics use the full dataset for each year.
The Villages at Mount Hood & Government Camp
Single-Family Manufactured Residential | 2024 & 2025
Data: RMLS | PortlandAppraisalBlog.com

Manufactured-home activity increased modestly during 2025, rising from 7 sales in 2024 to 9 sales in 2025. As a result, total dollar volume increased 25.3% to $3.6 million. Despite the increase in activity, pricing remained relatively stable. Average sale price declined 2.5% to $400,000, while the median sale price increased 6.4% to $399,000. Average home size, age, and price-per-square-foot metrics also exhibited only modest year-over-year changes, suggesting a generally stable housing segment.

Manufactured homes remained one of the most affordable ownership options within the Villages at Mount Hood & Government Camp market. Under the PABAI framework, 8 of 9 sales (88.9%) met affordability thresholds during 2025. Average required income declined to approximately $102,700, substantially below the detached-home segment and below the condominium segment. While the manufactured-home market remains small, the results indicate that this housing type continues to provide an important source of attainable homeownership opportunities within the corridor.

Manufactured Homes Sales by City

The following table summarizes where manufactured-home sales occurred during 2025. While the study area includes six communities, market activity was not evenly distributed.

City# of Sales% of 2025 Manufact. Market
Brightwood00.00%
Government Camp00.00%
Rhododendron111.11%
Welches888.89%
Total Sales9—
Sales Count by City
The Villages at Mount Hood & Government Camp
Single-Family Manufactured Residential | 2025
Data: RMLS | PortlandAppraisalBlog.com

Manufactured-home activity was highly concentrated within Welches, which accounted for 8 of 9 sales (88.9%) during 2025. Only one manufactured-home sale occurred outside Welches, with Rhododendron contributing the remaining transaction. No manufactured-home sales were recorded in Brightwood or Government Camp during the study period.

The concentration of sales within Welches increased during 2025. In 2024, manufactured-home sales were distributed more evenly between Welches and Rhododendron, with four and three sales respectively. By comparison, 2025 activity was overwhelmingly centered in Welches. Despite the segment’s small size, manufactured homes continued to provide an important source of comparatively affordable homeownership opportunities within the broader market.

Key Takeaways

The 2025 Villages at Mount Hood & Government Camp residential market saw an increase in market activity compared to 2024, generating 120 sales compared to 106. As a consequence, the market saw an additional $7.4 million in residential dollar volume. Detached homes remained the dominant housing type, accounting for more than 4 out of every 5 residential sales. While condominiums and manufactured homes represented much smaller segments, they provided important alternative ownership opportunities throughout the corridor.

A study of the Villages at Mount Hood & Government Camp market would be incomplete without accounting for the marketing patterns for many homes in the area. A review of listing remarks indicates that recreation, vacation use, and investment potential are core components of the local housing market. About 3 in 5 sales (61.7%) in 2025 contained at least one vacation-, rental-, Airbnb/VRBO-, short-term rental-, or investment-related marketing theme.

Residential activity was concentrated within a handful of communities. Rhododendron and Welches accounted for slightly over 8 out of 10 detached-home sales, while condominium activity was limited to Welches and Government Camp. Manufactured-home activity occurred almost exclusively in Welches in 2025.

Affordability varied significantly by housing type. Detached homes presented the greatest affordability challenges, with more than 71% of sales not meeting PABAI affordability thresholds. Condominiums became substantially more attainable during 2025, while manufactured homes remained the most affordable housing segment, with only one sale not affordable in 2025.

The market exhibited a wide range of housing opportunities. Detached-home sales ranged from just over $300,000 to nearly $2.6 million, demonstrating a housing stock that includes modest mountain cabins, year-round family homes, recreation-oriented properties, and high-end mountain retreats. Together, these findings reveal a housing market that serves both permanent residents and buyers drawn to the recreational amenities associated with the Mount Hood corridor.

Sources & Further Reading

All data presented in this housing market snapshot is sourced directly from RMLS and has been subjected to a rigorous cleaning and validation process to ensure reliability for single-family residential analysis for the Villages at Mount Hood & Government Camp. The trends, comparisons, and commentary are the result of original appraisal expertise and independent analysis—not aggregated from secondary sources or news summaries.

Coda

Thanks for reading—I hope you found a useful insight or an unexpected nugget along the way. If you enjoyed the post, please consider subscribing for future updates.

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

About the Author — Abdur Abdul‑Malik, SRA, ASA

Abdur Abdul‑Malik is the founder, author, and publisher of the Portland Appraisal Blog, where he produces original regional and neighborhood‑level housing analytics for the Portland Region. He is a certified residential appraiser serving Oregon and Washington, drawing on RMLS transaction data, public records, and custom segmentation models he has built.

He developed the Portland Appraisal Blog Affordability Index (PABAI), a payment‑based affordability metric built from actual RMLS sales. PABAI incorporates weekly updates based on the prevailing 30‑year fixed mortgage rate, providing a locally grounded measure of housing affordability across the region.

Learn more → PABAI explainer • mortgage rate series • full author bio

Portland Appraisal Blog Publications: October 2026

The White Stag Sign in late afternoon.
Photo: Abdur Abdul-Malik, Portland Appraisal Blog (CC BY-SA 4.0)

October featured the publication of several new housing market analyses, including market snapshots for Fairview and Corbett, an in-depth Troutdale housing market study, and weekly mortgage rate affordability updates for the Portland region. A summary of this month’s publications is provided below.

Housing Market Snapshots

New Housing Market Snapshot reports were published for Fairview and Corbett. These reports summarize recent market activity and key housing trends within each community.

  • City of Fairview Housing Market Snapshot – 2025: Link
  • Corbett Housing Market Snapshot – 2025: Link

Troutdale Housing Market Study

The Troutdale Housing Market Study examined recent sales activity from multiple perspectives, including affordability, financing, home size, lot size, age, marketing times, sale-to-list price relationships, property taxes, and overall market conditions. The study was released as a series of individual articles to allow readers to explore specific topics in greater detail.

  • City of Troutdale Housing Market Snapshot – 2025: Link
  • PAB Insights: What Could Different Household Incomes Buy Among Troutdale’s Affordable Homes?: Link
  • PAB Insights: What Income Was Required to Buy a Home in Troutdale (2024-2025)?: Link
  • PAB Insights: Which Home Sizes Sold Most Often in Troutdale (2024-2025)?: Link
  • PAB Insights: When Were Troutdale’s Homes Built (2024-2025)?: Link
  • PAB Insights: What Lot Sizes Defined the Troutdale Market (2024-2025)?: Link
  • PAB Insights: Which Bedroom Counts Dominated the Troutdale Market (2024-2025)?: Link
  • PAB Insights: Which Bathroom Configurations Sold Most Often in Troutdale (2024-2025)?: Link
  • PAB Insights: How Did Buyers Finance Homes in Troutdale (2024-2025)?: Link
  • PAB Insights: When Did Homes Sell in Troutdale (2024-2025)? Link
  • PAB Insights: How Long Did It Take Homes to Sell in Troutdale (2024-2025)?: Link
  • PAB Insights: Did Troutdale Sellers Get Their Asking Price (2024-2025)?: Link
  • PAB Insights: How Much Property Tax Did Troutdale Homeowners Pay (2024-2025)?: Link
  • PAB Insights: What Kind of Market Was Troutdale (2024-2025)?: Link

Mortgage Rate Analysis

Weekly mortgage rate and affordability updates tracked changes in rates and their impact on purchasing power within the Portland region. Mortgage rates reached a year-to-date high during October before retreating modestly by month-end.

  • Portland Region Housing Affordability Snapshot – Rates Soar to YTD High of 7.28% (October 1, 2026): Link
  • Portland Region Housing Affordability Snapshot – Rates Climb to YTD High of 7.40% (October 8, 2026): Link
  • Portland Region Housing Affordability Snapshot – Rates Remain at YTD High of 7.40% (October 15, 2026): Link
  • Portland Region Housing Affordability Snapshot – Rates Dip to 7.32% (October 22, 2026): Link
  • Portland Region Housing Affordability Snapshot – Rates Dip to 7.24% (October 29, 2026): Link

Coda

Are you an agent in Portland who wonders why appraisers always do “x”?

A homeowner with questions about appraiser methodology?

If so, feel free to reach out—I enjoy connecting with market participants across Portland and the surrounding counties, and am always happy to help where I can.

And if you’re in need of appraisal services in Portland or anywhere in the Portland Region, we’d be glad to assist.

About the Author — Abdur Abdul‑Malik, SRA, ASA

Abdur Abdul‑Malik is the founder, author, and publisher of the Portland Appraisal Blog, where he produces original regional and neighborhood‑level housing analytics for the Portland Region. He is a certified residential appraiser serving Oregon and Washington, drawing on RMLS transaction data, public records, and custom segmentation models he has built.

He developed the Portland Appraisal Blog Affordability Index (PABAI), a payment‑based affordability metric built from actual RMLS sales. PABAI incorporates weekly updates based on the prevailing 30‑year fixed mortgage rate, providing a locally grounded measure of housing affordability across the region.

Learn more → PABAI explainer • mortgage rate series • full author bio