How much money is needed to comfortably afford a home in Portland?

According to a new study from Zillow, the income needed to comfortably afford a home in the Portland metro area is $161,624. That's up about $65,664 from 2020.
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[@All-due-respect-I-disagree]

“House hacking” you mean room mates??

[@TVHouseHistorian]

Yep. It means rent out your bedrooms.

[@BZB33]

What happened to the days when banks simply financed houses and didn't buy them up outright outbidding actual people. Housing is a basic need, it should not be a business venture for the wealthy.

[@vallee7966]

But DOnT RENT IT OUT!!!! Landlords HAVE NO RIGHTS!!

[@TVHouseHistorian]

You’re not completely wrong there. I rent out two of my bedrooms, and have had a couple of bad eggs. You *can* evict, but it’s a long process, and there are guidelines to follow. Screw one thing up, and it can take even longer to get them out. It’s scary.

[@TVHouseHistorian]

It’s worse in other states, believe it or not.

[@christianviiperi]

Um is China new? wow

[@tybread2997]

So glad I bought a house at the end of 2018 to afford a mortgage, but with the price of everything else, I still feel like I'm barely getting by.

[@emilysmith259]

As a current Portland homeowner - the biggest problem (regarding the housing market...) here are two things: Houses that do become available are often on the market less than a week. This is because private investors - usually from out of state - (don't mean to pick on you, California but...they're usually from there...) buy them up so quickly that they few people who ARE in the market to buy a home are locked out before they get a chance and if they get to put a bid down, the investors outbid them easily. These homes either sit empty and become havens for squatters which bring down the property values of all the surrounding homes or they are quickly flipped and turned into rental properties that are outrageously overpriced. The second problem are other homes that COULD be available if only the banks that own them would release them. Many homes have been in foreclosure and are currently owned by banks and again sit empty drawing squatters and crime. Left neglected to the point they fall apart. Often, the homes aren't even safe for squatters because they have been forgotten and ignored. And if anyone dares inquire about the property, banks refuse to let go of them. These problems are not limited to Portland but are an issue nationwide. But with our current homeless crisis and drug epidemic, the neglected homes become eyesores or worse when they could be made useful and to raise the surrounding value of the area and perhaps, make Portland desirable again.

[@babiesfartingfire6007]

Ehhh but blackrock has been selling piles of properties, mainly apartments. It’s changing

[@karlabritfeld7104]

All true. I lived in Portland for 27 years. Got out before it went crazy bad

[@BrazenBull001]

What a totally uncool city So lame

[@Azazel2024]

And you have realtor after realtor with edited videos on Portland lying their behinds off .

[@warrenconnick1949]

Still living with grandma😂

[@onegreatstarfish]

NAR shills

[@YourMom-vl2sp]

Lol house hacking 😂

[@rerun3283]

And for that privilege you get to have a hobo throw needles in your yard.

[@chancepaladin]

so like 5 roommates, and everyone compete for the few places left employing anyone, then door dash/uber on the side for people who don't think its safe enough to leave the house?

[@RottenPopReviews]

We need to overhaul this system. Who wants to start paying me more?

[@chancepaladin]

I gotta say yall handled this story about as tactfully as possible, lol

[@kasforai]

what about las vegas, salt lake and boise?

[@enjoiboy24]

In other news the sky is blue 🤷‍♂️

[@RoadWarrior48]

It used to be a nice place to live and work. SMH It sure doesn’t reflect the desirability living in a nice city, the stats are too high for crime, homelessness, etc! Couldn’t pay me enough to live there like I did, back in the day! 😮

[@les0101s]

Just like everywhere else, crime and homelessness aren't in every part of the city. That's why homes are so expensive. If you watch the news, they like to show a couple of bad spots in Portland, leading people to believe it's like that everywhere.

[@TVHouseHistorian]

@@les0101sit is absolutely “like that” everywhere. Bums travel to and fro, leaving behind gifts of needles and feces. You can’t get away from it anymore.

[@les0101s]

@@TVHouseHistorian So why do you think the homes are so expensive? Why is rent expensive? Why aren't enough places available to buy and rent? What about Beaverton and Lake Oswego?

[@prolifelatterdaysaint0000]

The fed needs to lower rates

[@Scroll_Lock]

What do you think would be the result of that?

[@forgottenman8629]

rates will be lowered, real close to election day...

[@maryhensley2597]

​@@forgottenman8629Exactly!

[@mookfarr]

Yes, but that will just inflate prices as people rush to get in.

[@Scroll_Lock]

@@mookfarr Also, if the rates get lowered (before inflation comes down to 2%) just to influence the election then rapid inflation will continue as all those new home loans get issued.

[@Michael-bh9ss]

Make me wanna leave this state. It's a joke. If my job wants me to stay, I need a big raise. I doubt it'll happen.

[@goatrockhunters8000]

Biden’s America

[@45prowler]

Who would pay that much to live in such a crap-hole of a city!!!

[@maryhensley2597]

I would imagine it has a lot to do with the priority of housing drug addicts. Instead of helping those that have fallen through the cracks and need a hand up.

[@jonathanevenboer]

I think that would have more of an impact on rentals. This was strictly regarding buying a home (house, condo, etc.). There are actually quite a few places in Portland that offer cheap apartments for low income (but employed) folks to rent. It's pretty impressive compared to other larger cities, to be honest.

[@DavidSmith-sf4rl]

You couldn’t pay me to live in Portland. Lol.

[@cashradwhite]

😂😂😂😂

[@edwinlipton]

Truth; you came into existence crying and screaming,,, you'll go out the same way. "Comfort",, is an illusion of desire. Make better choices when offered to do it again. If infact we are Given multiple lives.