Moving to Portland, Oregon

Quick insights
- Portland is known for its exciting food scene, wineries and beer breweries, proximity to nature and character-heavy homes.
- The city’s robust pedestrian, cycling and public transportation infrastructure helps make it easy to get around without a car.
- Prospective Portland residents should be aware of the higher cost of living and property tax rates.ec-portland-payscale,ec-taxfoundation-oregon
If you’re considering moving to Portland, Oregon, you may be wondering what it’s like to live there and become a homeowner. In this guide to moving to Portland, we’ll describe features of the city and need-to-know insights for homebuyers.
Living in Portland, Oregon
Nestled along the Columbia and Willamette Rivers, this eco-friendly city in the Pacific Northwest has a quirky, hand-crafted reputation. Residents can explore microbreweries, brunch spots and the city's many parks for leisure activities. Here are some key aspects of living in Portland, Oregon.
Portland’s climate and geography
Less than 100 miles from the Pacific coast, Portland has an oceanic climate with wet, cool winters and dry, warm summers. Temperatures in the coldest months can drop to the mid-30s. In the summer, it’s typical for the hottest days to peak in the low-80s. To the east, the city faces Mt. Hood, a towering volcanic mountain. Nearby access to the Mount Hood National Forest, Tillamook State Forest and the Gifford Pinchot National Forest makes Portland attractive to hiking and camping enthusiasts.
Things to do in Portland
Whether you ultimately move to Portland or simply stop by for a visit, there’s much to see and do. Consider checking out these landmarks, museums and events in Portland:
- Inner-city landmarks: The iconic Portlandia statue and historic Pittock Mansion provide glimpses into the city’s artistic inclinations and pioneering past. The International Rose Test Garden features hundreds of varieties of roses and gives Portland its nickname, “Rose City.”
- Museums: The Portland Art Museum has a large international collection of classic and modern works, including decorative art and photography. The Oregon Museum of Science and Industry (OMSI) has kid-friendly interactive exhibits, lecture series and special evening events.
- Sports teams: When it comes to professional sports, residents of Portland can root for the Portland Trail Blazers (NBA) or the Portland Timbers (MLS). Providence Park is a popular venue to catch an MLS or college football game.
Getting around Portland
The city is known to be uniquely pedestrian, cyclist and transit-rider friendly. The city’s TriMet system provides extensive bus, light rail and streetcar services throughout the Metropolitan area. Drivers should take note of Broadway, Burnside Street and Martin Luther King Jr. Boulevard, three major streets.
Pros and cons of living in Portland
Keeping potential homeowners in mind, here are some of the aspects to consider when moving to Rose City.
Why move to Portland, Oregon?
- Proximity to natural beauty: Portlanders have good access to multiple natural forests for hiking and camping, proximity to the Pacific Ocean and stunning mountain views.
- Less car-dominant: The city’s variety of transportation options, including focus on pedestrian and bike-friendly infrastructure, makes it easier to get around without a car.
- Vibrant food and beverage scene: A strong brunch culture, food cart pods (vending collectives), farmer’s markets, and beer brewing and wine making enhance Portland’s flavor.
Potential considerations
- High cost of living: The cost of living in Portland, Oregon is 19% above the national average with housing, groceries and transportation being standout categories.ec-portland-payscale
- Income taxes: Oregon has a progressive individual income tax system, with a top marginal rate of 9.9%. The City of Portland has the highest combined local income tax rate in the nation (4%).ec-taxfoundation-oregon
- Natural hazards: Portland is somewhat prone to earthquakes and occasional flooding. Homeowners may want to consider examining flood maps and investing in quake retrofitting.
Neighborhoods in Portland
Wondering what the best neighborhood in Portland may be for your lifestyle? Here are a few options to start your search.
Downtown Portland
Downtown Portland living is characterized by visits to trendy shops, restaurants and cultural fixtures including city museums. The downtown area also provides access to public transportation. Properties in this area include high-rise condominiums, contemporary waterfront constructions and a smattering of historic buildings.
Laurelhurst
This residential neighborhood near downtown is known for its charming twentieth-century homes, lush lawns and activity-packed public parks. Laurelhurst has a small group of eateries offering French cuisine, a movie theater and a historic K-8 school which opened its doors in 1918.
Sellwood-Mooreland
This family-oriented neighborhood is located three miles south of downtown Portland. There are some modern homes. However, properties in this area tend to be older (some dating to the early 1900s) Craftsman-style homes with unique character. Residents can take advantage of the nearby Springwater Corridor for biking and jogging.
Alameda
This residential area north of the downtown area also features older homes, lush greenery and cozy eateries. Three parks are within walking distance for residents, including a challenging 4-mile loop hike with hidden staircases and views of historic homes. While Alameda is a short drive to the city center, the neighborhood is also connected by multiple bus stops.
Housing resources in Portland, Oregon
If you’re buying a home in Portland, you may qualify for certain programs. The following are offered Oregon Housing and Community Services (OHCS) that can help offset costs (information and availability subject to change).
- The Down Payment Assistance Loan Program (DPA): This down payment assistance program can cover up to 100% of the borrower’s cash requirements at closing. In addition to other requirements, homebuyers must be first-time (or first-generation) with income at or below 100% of the area median income. Applicants must also complete first-time homebuyer education and meet with a certified housing counselor.
- Flex Lending: The Flex Lending program includes two mortgage loan products, FirstHome and NextStep, each intended to provide favorable terms for buyers. For qualifying applicants, these mortgages can be paired with DPA. Both FirstHome and NextStep loans have generous credit score requirements (minimum 620), with no minimum investment required. For each type of loan, borrowers must complete homebuyer education courses.
In summary
For those who prioritize dining, nature walks and unique homes, moving to Portland may be a good option. Before committing to a move, it may be helpful to estimate your cost of living in this city and compare income tax rates with where you currently live. If you’re ready to begin exploring your mortgage options, consider reaching out to an experienced Chase Home Lending Advisor.