What do economic and social indicators tell us about Portland?
Before purchasing real estate in Portland, check out economic and social indicators to determine if a metro is the right one for you. Running down a list of quick facts about an area can give you insight into its demographics.
According to the U.S. Census Bureau, Portland’s population included 583,776 residents in 2010 - a 10 percent improvement from 2000. The city is growing at an increased rate despite the negative influence of the Great Recession. This could mean that those employed feel comfortable in their careers and are having children or that more people are moving to the city for the increased job growth. In 2010, 50.5 percent of the population were female - a potential plus for men.
In addition, a large percentage of the population over the age of 25 have attained a bachelor’s degree or higher. From 2006 to 2010, 41.1 percent of Portland’s population had an advanced degree, which could signify that the pursuit of higher education is important to many residents.
The median value of owner-occupied homes from 2006 to 2010 was $292,000, while the median household income for that time frame was $48,831. These figures indicate housing affordability for a majority of Portland's residents.