ZIP 97221 vs ZIP 97231

97221 is one of 34 ZIP codes that lie mostly in Multnomah County, OR.

Shaded by typical home value, it ranks 2 of the 31 with a value.

2 school locations in 97221: 1 elementary, 1 middle.

In alphabetical order: Bridlemile Elementary School, Hayhurst Elementary School. Locations only — no ratings are shown here.

97231 is one of 34 ZIP codes that lie mostly in Multnomah County, OR — 80% of its own area is in the county.

Shaded by typical home value, it ranks 3 of the 31 with a value.

2 school locations in 97231: 2 middle.

In alphabetical order: Sauvie Island School, Skyline Elementary School. Locations only — no ratings are shown here.

In January 2000 the typical home in 97221 was worth $258,614.

Values peaked at $824,021 in June 2022. The latest reading is −8.4% from that peak.

As of August 2026: $754,682, +0.5% over twelve months.

Start with the typical home: $754,682. Put 20% down and borrow $603,746 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $4,180 a month in principal and interest.

The median household here earns $146,017 a year, $12,168 a month. So the payment takes 34.4% of income — rated “stretched” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 11.8% in 2000.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in January 2000 (8.21%) the payment was $1,548.

In December 2020, with rates at 2.68%, it was $2,130.

By August 2026, at 6.67%, it was $3,883 — +82% since December 2020, while the home's value moved +15%.

Reported values rose +192% since January 2000.

General prices (CPI-U) rose +97% over the same span.

Divide one by the other: in August 2026 dollars, the 2000 home was worth $510,401. So the real change is +48%, not +192%.

97221: +192% since January 2000.

Multnomah County: +210% since January 2000.

Oregon: +225% since January 2000 — 97221 ran behind it by 34 points.

Against 400 Oregon ZIP codes, 97221 sits at the 71st percentile for affordability (price vs local income).

44th for appreciation (recent value growth); 57th for rental yield (rent vs price).

Owning the typical home costs about $4,935 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,936 a month.

Price divided by a year's rent: 32.5. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

In January 2000 the typical home in 97231 was worth $251,139.

Values peaked at $759,516 in June 2022. The latest reading is −7.3% from that peak.

As of August 2026: $704,450, +1.4% over twelve months.

Start with the typical home: $704,450. Put 20% down and borrow $563,560 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $3,902 a month in principal and interest.

The median household here earns $122,063 a year, $10,172 a month. So the payment takes 38.4% of income — rated “severe” (Lotvox ZIP bands: under 28% affordable · 28–36% stretched · 36%+ severe).

The line holds today's rate fixed and moves only the price: at that rate, the same share was 13.7% in 2000.

Take the typical home's price each month, borrow 80% at that month's actual 30-year average rate: in January 2000 (8.21%) the payment was $1,504.

In December 2020, with rates at 2.68%, it was $2,017.

By August 2026, at 6.67%, it was $3,624 — +80% since December 2020, while the home's value moved +13%.

Reported values rose +181% since January 2000.

General prices (CPI-U) rose +97% over the same span.

Divide one by the other: in August 2026 dollars, the 2000 home was worth $495,649. So the real change is +42%, not +181%.

97231: +181% since January 2000.

Multnomah County: +210% since January 2000.

Oregon: +225% since January 2000 — 97231 ran behind it by 45 points.

Against 400 Oregon ZIP codes, 97231 sits at the 52nd percentile for affordability (price vs local income).

66th for appreciation (recent value growth); 12th for rental yield (rent vs price).

Owning the typical home costs about $4,606 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,458 a month.

Price divided by a year's rent: 40.3. Lotvox reads under 15 as favoring buying and 20 or more as favoring renting.

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 22 a month (Redfin, 3-month rolling data through August 2026). That is 81% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 68.

Going out — closed sales: about 16 a month. The drain is drawn 37% narrower: the share of homes for sale that sell each month is 63% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 4.2 months of supply — inside the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 6 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 16 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 20 — so sales ran at 80% of it, and below it in 19 of the last 24 months.

Across Multnomah County, builders pulled permits for 1,594 new homes in 2025.

Of those, 62% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

Picture the Listings Flow Ladder as a basin: new listings pour in from the faucet, the homes for sale are the water, and closed sales run out the drain. Coming in — new listings: about 8 a month (Redfin, 3-month rolling data through August 2026).

On the shelf — homes for sale at the end of the period: 47.

Going out — closed sales: about 4 a month. The drain is drawn 59% narrower: the share of homes for sale that sell each month is 41% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 10.8 months of supply — above the 4–6 month balanced range. In the basin, that is the water level against the shaded balanced band.

The net reading: about 4 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 4 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 7 — so sales ran at 57% of it, and below it in 17 of the last 24 months.

Across Multnomah County, builders pulled permits for 1,594 new homes in 2025.

Of those, 62% were in 1-unit buildings (the Census Bureau's category for detached and attached single homes).

This ZIP sits in Multnomah County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 14,284 moved in. Among the ten receiving the most, 16,162 moved out.

Net across those counties: −1,878 households. Beside it, homes for sale in this ZIP: 68 in June 2026.

Most arrivals came from Washington, OR (4,318 households); most departures went to Clackamas, OR (4,847).

This ZIP sits in Multnomah County. IRS tax returns for 2022-2023: among the ten counties sending the most households, 14,284 moved in. Among the ten receiving the most, 16,162 moved out.

Net across those counties: −1,878 households. Beside it, homes for sale in this ZIP: 47 in June 2026.

Most arrivals came from Washington, OR (4,318 households); most departures went to Clackamas, OR (4,847).