Rent vs Buy in Portland, OR
Monthly cost of renting vs owning a median-priced home · 30-yr fixed, 20% down
Renting looks favorable in Portland, OR
Price-to-rent ratio is 23.3 (under 15 favors buying, over 21 favors renting). Renting costs $1,878/mo; owning runs about $3,978/mo — $2,100/mo more to own.
| Monthly cost to own | Amount |
|---|---|
| Mortgage (P&I, 7.18% rate) | $2,842 |
| Property tax | $481 |
| Home insurance | $218 |
| Maintenance | $437 |
| Total to own | $3,978 |
| Average 2BR rent | $1,878 |
Based on a median home value of $524,318 with a $104,864 down payment. Owning also builds equity over time, which a monthly comparison doesn't capture. Estimates use national averages for taxes, insurance and maintenance — your actual costs will vary.