In 2017, developers predicted that 6,500 more apartments would be constructed in the Portland Metro Area over the following 12 months. Yet as of December 2019, fewer houses in Portland are offered for sale or rent. Portland’s housing costs have increased by 2.5% during the past year.
The median home price in Portland increased from $391,400 in November 2018 to $415,000 in November 2019. The number of people migrating to Portland from out of state has increased, which affects the housing market. More Portlanders in their 20s and 30s are still residing in their parents’ homes due to the need for inexpensive housing, the surge of new inhabitants, and getting home repair services in Portland.
The largest city in the U.S. state of Oregon is Portland, a port city in the Pacific Northwest. Portland, the county seat of Multnomah County, the most populous county in Oregon, is located at the meeting of the Willamette and Columbia rivers. As of 2020, Portland had a population of 652,503, placing it 26th overall in terms of population, sixth on the West Coast, and second in the Pacific Northwest, behind Seattle.
Geography of the Portland
Portland is situated above the Boring Lava Field, a dormant volcanic plain named in honor of the neighboring Boring bedroom community. Southeast of Portland is in the heart of the Boring Lava Field, which has at least 32 cinder cones, including Mount Tabor. On clear days, Mount St. Helens, an extremely active volcano in Washington state, may be seen clearly to the city’s northeast. It is close enough to have covered the town with volcanic ash following its eruption on May 18, 1980—the rocks in the Portland area date from more recent ages through the late Eocene.
Cityscape of the Portland
Due to the numerous bridges that cross the Willamette River in the center of Portland, including several historical sites, the city has been known as “Bridgetown” for many years.
Hawthorne Bridge, Steel Bridge, and Broadway Bridge are three of downtown’s busiest bridges and are more than a century old. They are also recognized as historic landmarks. The double-decker Fremont Bridge, which initially crossed the Willamette in 1973, was replaced by Tilikum Crossing, the newest bridge in Portland’s downtown region, in 2015.