Portland is one of just six cities in the United States that currently feature more listings than before the pandemic. What's more, prices aren't declining in this area as fast as they are everywhere else.
That makes Portland properties ripe for the picking if you're looking to expand your real estate investment portfolio, particularly if you're interested in venturing into the rental market.
Keep reading to discover the best neighborhoods in Portland for investors right now.
Portland is still wrestling with the rental shortage that started in 2017, so you'll find no shortage of tenants wherever you buy a house in this area.
Yet, owning a house close to downtown gives you an extra edge when it comes to finding upwardly mobile tenants with stable jobs.
Laurelhurst is a charming neighborhood, just four miles from the city. Here, houses sell for an average of $975,000, an increase of 17% from last year.
On average, tenants pay around $2,910 per month for single-family Portland rental homes in this area.
If Laurelhurst prices are a little out of your league, Maywood Park is one of the more affordable Portland neighborhoods. Here, homes sell for between $450,000 to $665,000.
You can expect to collect around $1,147 per month in rentals when you own a property in this small city within a city.
Maywood Park is one of the best places to live in Portland if you enjoy a relaxed community vibe in a lovely, tree-lined setting where classic homes are the order of the day.
Although Maywood Park has everything you need, it's just six miles from the center of town, making for an easy commute.
Nob Hill is one of the best places in Portland to invest in property if you'd like a fixer-upper home. There are many older homes in this part of the Northwest District.
Most of these date back to the 19th century and sell for anything between $157,000 and $259,000. This makes them ideal for fix-and-flippers, or investors wanting to refurbish and rent a home.
Rental prices in this area are around $995 for an apartment to over $3,000 for a three-bedroom house.
Located a little southwest of Portland's downtown area, Goose Hollow is an up-and-coming neighborhood where you'll pay around $429,500 for a home in this area.
This is one of the oldest developed areas in the city and boasts a diverse array of home styles suited to a variety of renters. Typically, these tenants pay around $1,555 for a two-bedroom apartment in this neighborhood.
Despite its proximity to the city, Goose Hollow has a quiet atmosphere, lovely views over the trees, and a friendly, quirky vibe.
Making the Most of the Best Neighborhoods in Portland
Now that you know where to find the best neighborhoods in Portland, all you need is the best property management company in town to help you maximize your returns.
We can assist with a wide range of services to give you peace of mind concerning your rental property in Portland.
Get in touch, and we'll help you discover your ideal solution.