The difference between renting and owning in Portland

Meira Gebel

Illustration of a repeating pattern of houses with the center house radiating a blue gradient. — Illustration: Lindsey Bailey/Axios

The average Portland-area renter pays about $2,540 less a month than someone who owns a home in the region, per a new Zillow report.

Why it matters: As Portland home prices stay stubbornly high — have you seen mortgage rates lately? — it's more evidence that renting might be the way to go for some people.

By the numbers: The typical Portland renter pays $1,800 a month, whereas the typical new home buyer pays $4,360 a month for their mortgage, insurance and taxes.

Over the course of a year, that's about a $30,500 difference.

Yes, but: Homeowners, of course, are building up equity, investing in something they could eventually sell themselves or pass down to their kids.

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The difference between renting and owning in Portland

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