It's cheaper to rent than buy a home in Portland

• This puts us nearly neck and neck with fellow West Coast cities like Los Angeles, San Francisco and Seattle when it comes to housing affordability.

State of play: According to a new analysis from real estate company Redfin, Portlanders are more likely to find a home to rent within their price range than one to buy.

• The housing market in Portland is still fairly competitive, with a median sale price of $523,450.
• Nearly half of the homes on the market in Portland sold for above asking price.

The other side: The average cost to rent an apartment in Portland is $1,763, per RentCafe.

The grass is always greener: Cities like Houston, Detroit, Cleveland and Philadelphia boast the most affordable properties on the market as of March 2023.

• The median selling price in Houston is $340,000; in Detroit, it's $75,000.