Portland Has Become Very Popular, But It Is Also Becoming Very Expensive

February 8, 2016

Portland, Ore. has become one of the popular kids in school, and seemingly everyone wants to sit at its lunch table. According to the moving company United Van Lines, Oregon was the most popular state to move to in 2015. That's all well and good, but newfound popularity brings with it some not-so-appealing statistics, reports CNN money.

Between November 2014 and November 2015, home prices in Portland increased 11.1 percent. That was the largest increase in the country. Additionally, rent prices rose 13.7 percent.

That leaves Portland with a median home price of $345,500. While that is an increase over Portland’s home prices of the past, it is still a far cry from, say, the $1.12 million median in San Francisco.

And therein lies the problem. Many people are coming to Oregon from places like San Francisco, and they're bringing their high-paying jobs with them, working remotely. So, while a $345,000 home might seem like a bargain for high-earning newcomers, someone making,say, $70,000 in Portland won't be able to buy as much house as they would have previously.

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