97214, Portland, OR

The 97214 zip code of Portland, OR is one of the most popular and expensive zip codes in the United States. Home prices in this area have increased rapidly over the past several years, making it a desirable place to live.

According to Zillow, the median home value in the 97214 zip code was $527,500 as of September 2017. This is significantly higher than the national median home value of $217,000. The average home price in this area has also increased rapidly over the past few years, reaching an all-time high of $619,000 in December 2017.

One reason for this rapid increase in home prices is that there are a large number of affluent residents living in the 97214 zip code. Many wealthy individuals and families have moved into this area over the past few years because it offers excellent schools and access to many amenities, including a strong economy and a high quality of life.

Another factor contributing to rising home prices in the 97214 zip code is low inventory levels. As demand for homes increases, fewer homes become available for sale due to restrictions on building new homes or due to restrictions imposed by zoning laws. In addition, many wealthy individuals prefer to live near other affluent residents rather than live in areas with more moderate-income families. As a result, there are relatively few homes available for purchase or rent within walking distance of downtown Portland.