ZIP 97233

97233 is one of 34 ZIP codes that lie mostly in Multnomah County, OR.

Shaded by typical home value, it ranks 29 of the 31 with a value.

9 school locations in 97233: 6 elementary, 1 middle, 1 high, 1 other.

In alphabetical order: Alder Elementary School, David Douglas High School, HOLLA School, Lincoln Park Elementary School, and more on the ZIP page. Locations only — no ratings are shown here.

In January 2000 the typical home in 97233 was worth $129,630.

Values peaked at $425,066 in June 2022. The latest reading is −6.2% from that peak.

As of August 2026: $398,673, −0.1% over twelve months.

Start with the typical home: $398,673. Put 20% down and borrow $318,938 at 7.40%, the 30-year fixed average as of October 8, 2026.

That is $2,208 a month in principal and interest.

The median household here earns $54,886 a year, $4,574 a month. So the payment takes 48.3% 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 15.7% 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 $776.

In December 2020, with rates at 2.68%, it was $1,120.

By August 2026, at 6.67%, it was $2,051 — +83% since December 2020, while the home's value moved +15%.

Reported values rose +208% 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 $255,838. So the real change is +56%, not +208%.

97233: +208% since January 2000.

Multnomah County: +210% since January 2000.

Oregon: +225% since January 2000 — 97233 ran behind it by 18 points.

Against 400 Oregon ZIP codes, 97233 sits at the 21st percentile for affordability (price vs local income).

24th for appreciation (recent value growth); 80th for rental yield (rent vs price).

Owning the typical home costs about $2,607 a month once taxes and insurance (estimated at 1.2% of price a year) are added. Renting runs about $1,506 a month.

Price divided by a year's rent: 22.1. 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 36 a month (Redfin, 3-month rolling data through August 2026). That is 61% of the 2015–2019 level for the same months.

On the shelf — homes for sale at the end of the period: 93.

Going out — closed sales: about 25 a month. That is 55% of the 2015–2019 level for the same months. The drain is drawn 53% narrower: the share of homes for sale that sell each month is 47% of its 2015–2019 level.

The ladder: homes for sale ÷ monthly sales = 3.7 months of supply — below the 4–6 month range Lotvox treats as balanced. In the basin, that is the water level against the shaded balanced band.

The net reading: about 11 more homes came on than sold each month, so inventory is growing. The basin is filling.

Homes sold: about 25 a month in August 2026 (Redfin).

The 2015–2019 level for the same month was 44 — so sales ran at 57% of it, and below it in 24 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: 93 in June 2026.

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