The Oregonian’s recent infographic on Portland home values shows an increase from 2011’s lows, but a market that is just now reaching 2006’s highs. In Foster-Powell, the chart appears to have us hovering around the $215-220k mark for median home values; Mt. Scott-Arleta shows similar numbers, though maybe a tad below. This is an improvement from the $175k range just two years ago.
While that jump is good news for the homeowners out there, it also suggests the cost to live along the western stretch of Foster is increasing.
Is that good news for a neighborhood that appears on the verge of breaking out?
Many will say yes, but the implications of a more expensive neighborhood should be considered, too.
What are your thoughts? Do you own a home? Do you rent and have concerns about the neighborhood’s affordability? Is this just a city-wide trend that makes us no different than other neighborhoods?