Portland Metro’s Fastest-Growing Real Estate Markets in 2024

If you own a home in the Portland, Oregon metro area or are thinking about buying one, you’re probably wondering which areas saw the biggest appreciation in 2024—and what that means for you in 2025!

In this post, we’ll break down the top-performing real estate markets around Portland, covering price trends, what’s driving growth, and what to expect in 2025. Whether you’re considering buying, selling, or just keeping an eye on market trends, you’ll want to pay attention to these hot spots!

Portland Real Estate Market Snapshot (2024 Recap)

Before we dive into the fastest-growing areas, let’s set the stage with some key market stats from the RMLS Market Action Report for December 2024:

• Median home price in the Portland metro: $543,000

• Average sale price: $568,500

• Year-over-year appreciation: 1.8%

While overall growth in the metro area was steady, some neighborhoods far outpaced that 1.8% appreciation rate. Let’s explore where prices surged the most.

1. Tigard & Wilsonville – The Fastest-Growing Market (16.1% Appreciation)

🔥 Median Home Price: $620,000
🔥 Average Sale Price: $653,000
🔥 Inventory: 2.4 months

No surprises here—Tigard and Wilsonville saw massive price increases in 2024, with home values jumping 16.1%!

So, why the growth? A few key reasons:

• Tech & job growth – Major companies are expanding in the area, bringing more professionals looking for housing.

• Prime location – Easy access to I-5 makes it a commuter-friendly choice.

• Great neighborhoods – These cities offer charming residential areas, strong school districts, and a balance between suburban and city life.

With low inventory and strong demand, expect these areas to remain competitive into 2025.

2. Lake Oswego & West Linn – High-End Market Growth (7.6% Appreciation)

🏡 Median Home Price: $831,000
🏡 Average Sale Price: $1,426,000
🏡 Inventory: 2.9 months

Lake Oswego and West Linn continue to be two of Portland’s most sought-after high-end markets. With 7.6% price appreciation, these areas remain strong thanks to:

• Luxury homes with breathtaking riverfront and lakefront views

• Top-rated school districts that draw families

• A strong, affluent buyer pool

If you’re looking for high-end living with strong long-term value, these are two of the most desirable places to be.

3. Gresham & Troutdale – The Affordability Factor (5.6% Appreciation)

💰 Median Home Price: $494,900
💰 Average Sale Price: $505,000
💰 Inventory: 3.0 months

Gresham and Troutdale might not have the highest price tags, but their 5.6% appreciation makes them an attractive option—especially for buyers looking for affordability in a high-priced metro.

What’s driving demand here?

• More affordable home prices compared to Portland

• Proximity to outdoor recreation – Close to Mount Hood, Columbia River Gorge, and hiking trails

• First-time homebuyer appeal – More space at a lower cost than inner Portland

If you’re priced out of inner-city Portland, this could be a great place to consider in 2025.

4. Columbia County – A Hidden Gem (4.2% Appreciation)

🏡 Median Home Price: $432,500
🏡 Average Sale Price: $451,500
🏡 Inventory: 2.4 months

Towns like Scappoose and St. Helens are seeing a surge in demand as buyers look for affordable housing options within commuting distance of Portland.

While Columbia County offers lower prices, it does come with trade-offs: ✅ More space, rural charm, and a small-town feel
⚠️ Longer commutes and fewer services nearby

If you’re looking for affordability with a country vibe, this might be the spot for you!

5. Canby & Oregon City – Small-Town Appeal (2.3% Appreciation)

🌳 Median Home Price: $577,500
🌳 Average Sale Price: $618,500
🌳 Inventory: 2.7 months

Canby and Oregon City remain highly desirable for buyers seeking small-town charm with easy access to Portland. People move here for:

• A strong sense of community

• Scenic surroundings and local farms

• Quieter neighborhoods with a relaxed pace of life

With steady price appreciation and continued demand, these areas are expected to stay competitive in 2025.

What’s Driving These Real Estate Trends?

Across all these areas, we’re seeing a few common factors fueling appreciation:

📈 Job Growth: Cities near major employment hubs (like Tigard, Wilsonville, and Hillsboro) are thriving.
💰 Affordability: More budget-friendly areas like Columbia County and Gresham are drawing first-time buyers.
🏡 Lifestyle Preferences: Buyers are prioritizing quality of life, whether that means an urban feel, suburban conveniences, or rural privacy.
📉 Low Inventory: Most areas have less than 3 months of inventory, keeping competition high and pushing home values upward.

Thinking About Buying or Selling in 2025?

Whether you’re looking to buy a home in one of these high-growth areas or you’re a homeowner wondering what your property is worth, I’d love to help you navigate the market.

📩 Let’s connect! Reach out for personalized real estate insights, market updates, or just to chat about your options.

Want to stay on top of Portland-area real estate trends? Subscribe to my YouTube channel, Living in Portland Suburbs, and follow along for more updates! 🎥