The typical owner-occupied home in Portland is worth about $194,000, 22% below the North Dakota median of $249,900 and 42% below the national median of $332,700. Owners pay a median $2,529 a year in property taxes, about 1.30% of their home's value, higher than the North Dakota rate of 0.99%. The median household earns $90,000 a year, so the median home costs 2.2 times the median income (3.3 times for North Dakota). 71% of occupied homes here are lived in by their owners, and 49% of those owners still have a mortgage.
Portland at a glance
| Portland | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $194,000 | $249,900 | $332,700 |
| Median property tax paid per year | $2,529 | $2,468 | $3,119 |
| Property tax as a share of value | 1.30% | 0.99% | 0.94% |
| Median household income | $90,000 | $76,657 | $80,734 |
| Homes lived in by their owners | 71% | 63% | 65% |
| Owner homes with a mortgage | 49% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,644 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 17.2% | 19.4% | 21.0% |
| Median rent | $623 | $954 | $1,413 |
| Rent as a share of renters' income | 18.1% | 25.0% | 30.6% |
| Median year homes were built | 1970 | 1982 | 1980 |
| Vacant homes | 4.0% | 12.3% | 10.1% |
| Population | 549 | 784,841 | 334,922,499 |
What a typical home costs per month in Portland
At this week's average 30-year rate of 7.11%, buying the median Portland home of $194,000 with 20% down costs about $1,335 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,658, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $57,216 for the 20%-down payment. That payment is 18% of the median Portland household income of $90,000; at that income and 20% down, the 28% guideline points to a home of about $305,000.
The median rent here is $623 a month, so owning the median home costs about $712 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $38,800 |
|---|---|
| Loan amount | $155,200 |
| Principal and interest | $1,044 |
| Property taxes (1.30% a year) | $210 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| PMI | $0 |
| Total per month | $1,335 |
Change the numbers in the calculator
| Down payment | $6,790 |
|---|---|
| Loan amount | $190,486 |
| Principal and interest | $1,281 |
| Property taxes (1.30% a year) | $210 |
| Homeowners insurance (our estimate, 0.5% a year) | $81 |
| FHA mortgage insurance | $86 |
| Total per month | $1,658 |
Change the numbers in the calculator
Questions about home buying in Portland
What is the median home value in Portland?
About $194,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Portland?
Homeowners pay a median $2,529 a year, which is about 1.30% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Portland?
For the median home with 20% down at 7.11%, the payment is about $1,335 a month. Keeping that under 28% of gross income takes about $57,216 a year.
More about Portland
- Mortgage Refinance in Portland
- Debt Relief in Portland
- Home Equity Loans in Portland
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data