Green homes are popular in Portland
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Portland has more green homes on the market than nearly anywhere else in the country.
The big picture: 78% of homes listed for sale in Portland on Redfin in February were considered "green," according to a new survey from Payless Power, a Texas-based energy company.
What they're saying: "There's a culture of greenness in Portland in general," Rachel Freed, co-owner and principal broker of Urban Nest Realty, tells Axios. "We are at the epicenter of green building, and even the builders who aren't necessarily green are looking to do more energy-efficient things."
- Freed said features like energy-efficient windows, tankless hot water heaters, rain gardens, solar panels, electric car chargers and electric induction cooktops are becoming more important to homebuyers.
State of (solar) power: 62% of homeowners in the Pacific region of the U.S. have either installed solar panels or are considering the move, per a 2022 Pew Research Center study.
- Cost savings, environmental impact, tax credits and health are driving factors nationwide.
Between the lines: Millennials and members of Gen Z are 27% more likely than baby boomers to buy a green home, the researchers found, with 70% of Gen Z saying they would go over budget to do so.
Zoom in: The average cost of an industry-standard 10-kilowatt solar panel system in Oregon was $31,300 in 2022, per EnergySage figures cited by CNBC. (That's before the 30% federal tax credit.)