The 5 Most Affordable Neighborhoods in Portland, Oregon

First thing’s first: As of September 2020, Portland’s median home sale price was at $451,000. In this post, I’ll be sharing the most affordable neighborhoods in Portland and where you can get a “deal” as well as examples of homes that sold in 2020. 

Keep in mind that a “deal” means something different to everyone, but for the purposes of this post we’re featuring neighborhoods with median home sale prices that are below Portland’s overall median price.

(Also! This is by no means a comprehensive list, but this is a fantastic place to get started!) 

1. Hazelwood 

In 2019, the median home sale price in Portland’s Hazelwood neighborhood was at $320,000. The Hazelwood neighborhood is home to lots of lovely one-level ranch-style homes, and one of this neighborhood’s big highlights is the easy access to Glendoveer Golf Course. You don’t even have to play golf to enjoy this local amenity—there is a beautiful path around the course that’s perfect for staying active and getting in your steps for the day.

The Hazelwood neighborhood also offers excellent access to Interstate-84 and Interstate-205, and the Light Rail’s MAX Blue Line runs right through the neighborhood. 

Here are a couple of great examples of recently sold homes in the Hazelwood neighborhood:

Hazelwood Home – Sold for $325,000

 

Hazelwood Home – Sold for $315,000

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2. Powellhurst-Gilbert

In 2019, the median home sale price in Portland’s Powellhurst-Gilbert neighborhood was at $300,000. In the Powellhurst-Gilbert neighborhood you’ll find one-level ranches with garages, big yards, and there’s just lots of greenspace around in general! You’re also at the foot of Powell Butte, which has some seriously rad hikes and awesome views. 

Here are a couple of great examples of recently sold homes in the Powellhurst-Gilbert neighborhood:

Powellhurst-Gilbert Home – Sold for $330,000

 

Powellhurst-Gilbert Home – Sold for $309,000

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3. Sumner 

In Portland’s Sumner neighborhood, the 2019 median home sale price was $307,100. This neighborhood offers many great starter houses that are perfect for first-time homeowners. Homes in Sumner are on the smaller side, but most have decent sized yards with nice outdoor spaces. You also have a quick commute to the airport from the Sumner neighborhood, which is a big perk for those who have to fly a lot for work. 

Sumner Home – Sold for $375,000

This home was listed for $319,000 and sold for $375,000 (17% above list price) in only 3 days. This home represents a good example of the realities of our current real estate market here in Portland. 

 

Sumner Home – Sold for $345,000

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4. Centennial

In Portland’s Centennial neighborhood, the 2019 median home sale price was $307,000. Centennial is also home to many awesome ranch houses, and it’s right at the base of Powell Butte giving you easy access to beautiful greenspace, hikes, and big views. 

Centennial is also on Light Rail’s MAX Blue Line which runs from Gresham all the way to Hillsboro, taking you through Downtown Portland and Beaverton. This makes the Centennial neighborhood an especially great option for those who need to commute for work. 

Here are a couple of great examples of recently sold homes in the Centennial neighborhood:

Centennial Home – Sold for $309,250

 

Centennial Home – Sold for $315,000

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5. Mill Park

In Portland’s Mill Park neighborhood, the 2019 median home sale price was $308,500. In Mill Park you’ll find lots of one-level homes and just a bunch of solid ranch homes. Mill Park is filled with cute residential streets and because the streets curve their way through the neighborhood, it’s a fairly “slow” neighborhood as well. However, there is still easy access to local freeways, and you’re close to both Interstate-205 and I-84. 

Here are a couple of great examples of recently sold homes in the Mill Park neighborhood:

Mill Park Home – Sold for $331,000

 

Mill Park Home – Sold for $345,500