Cost of Living in Portland, OR
Housing
The housing market plays a significant role in determining the cost of living in Portland, OR.
- Housing Index: 120.0 / 100
- Median Home Price is: $494000
- Average Rent (2 BR Apartment): $2200 per month
- Average Rent (2 BR House): $2240 per month
Analyzing the real estate data for Portland, OR, we see that the housing index stands at 120.0, indicating a relatively high cost of living compared to the national average. The median home price is recorded at 494000, which suggests a competitive market for home purchasing. Additionally, the average rent for a 2-bedroom apartment is 2200, while a 2-bedroom house averages 2240. Prospective residents should take into account these figures in relation to average income levels and employment opportunities in the area, ensuring a sound decision for living arrangements.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Portland, OR.
- Electricity Price: $15.12 USD (median by state)
- Natural Gas Price: $16.5 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $250 per month
Living in Portland, OR could entail higher utility costs. Electricity costs sit at $15.12, while natural gas is priced at $16.5 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $250 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Portland is a financially viable option for your relocation.