Quick facts: Portland, IN

Quick Facts

95.3
Cost of Living
below US average
6,234
Population
12.35
Crime Rate per 1000
below US average
$44,292
Median Income
below US average
$165,000
Median House Price
above US average
$900.0
Average Rent
below US average
11%
Poverty Rate
above US average
3.5%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $44,292.

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Income Needed to Buy

βœ— Stretch
$52k/year
Based on $165,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $52k vs median $44,292
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Income Needed to Rent

βœ“ Affordable
$39k/year
Based on $900.0/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($44,292) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Portland, IN

Portland, Indiana, is a small city located in Jay County, with a rich history and a tight-knit community. The city was founded in the mid-19th century and has retained much of its historical charm, featuring a blend of classic architecture and modern amenities. Known for its agricultural roots, Portland is surrounded by farmland, contributing to a serene, rural atmosphere. The downtown area showcases unique local shops, cafes, and restaurants, making it a pleasant spot for residents and visitors alike. The city hosts several annual events that celebrate its heritage and community spirit, including the Jay County Pigskin Classic and the Portland Freedom Festival. Portland also offers access to outdoor activities, with parks and recreational areas for walking, fishing, and picnicking. The city is conveniently located near larger urban centers, providing residents with a blend of small-town life and access to metropolitan amenities. Overall, Portland, IN, is characterized by its warm community, historical significance, and a peaceful environment, making it a charming place to live or visit.

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