97231 — Multnomah County, Oregon Market Snapshot
Housing market data for zip code 97231 in Multnomah County, Oregon. Updated monthly with median prices, days on market, and more.
Market Sales Data
12 sales in 2026 (year to date)
Median Sale Price
$694,387
Days to Sell
14
Homes Sold
12
Inventory
40
Sale-to-List
99.2%
New Listings
48
Price/SqFt
$306
Pending Sales
20
Conforming Loan Available
The median home in 97231 at $694,387 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Market Insights
Market Temperature
Homes in 97231 are moving quickly at 14 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
Homes are selling very close to asking price in 97231 (99.2% sale-to-list ratio), indicating accurate pricing by sellers and steady demand.
Conforming Loan Feasibility
The median home in 97231 at $694,387 falls within the 2026 conforming loan limit of $832,750, but buyers putting less than 5% down may need jumbo financing. This makes down payment strategy especially important in this market.
Loan limits in 97231 are set at the county level.
2026 Loan Limits — Multnomah County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $701,500 |
| 2 Units | $1,066,250 | $898,050 |
| 3 Units | $1,288,800 | $1,085,550 |
| 4 Units | $1,601,750 | $1,349,050 |
Affordability Snapshot — Zip 97231
To purchase the median home at $694,387 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $5,470.
Monthly Payment
$5,470
Income Required
$234,436
Principal & Interest
$4,279/mo
Down Payment (5%)
$34,719
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 97231.
Estimated Monthly Payment
$4,447
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