City Profile: Portland, OR
Portland is the biggest city in the state of Oregon, and the second most populated city in the Pacific Northwest, following Seattle. The city itself comprises just under 145 square miles, with the surrounding urban area sprawling for over 520 square miles. With over 600,000 residents within the city and over 2.4 million in the surrounding metropolitan statistical area, about 47% of Oregon’s population lives in the Portland MSA. The median resident age is about 37 years. Portland’s population is 70% White (Non-Hispanic), with the three next largest ethnic groups being Asian, Hispanic, and Black or African American. Portland has one of the biggest Vietnamese populations per capita in the United States, with over 12,000 Vietnamese residents.
The city of Portland is well-known for its progressive political attitudes and unique energy. In the 1960’s, after an industrial economic boom during WWII, the city earned a reputation as a progressive hub for counterculture. In 2012, Portland was deemed the least religious city in the nation, with more than 42% of residents identifying as unaffiliated to any religion or faith. It also has historically had a relatively high percentage of LGBT-identifying residents, at one point holding the second highest percentage in the United States. The city strongly prioritizes protecting free speech, environmental consciousness, and individual citizen rights. With the popular slogan, “keep Portland weird,” the city also has developed a reputation for being home to some of the most interesting attractions and events. One great example is Mill Ends Parkis, known as the world’s smallest park, which sits in a median strip and has a total area of 452 square inches. There are endless oddities to discover within Portland’s city limits.
Throughout the 21st century, Portland has experienced strong and steady economic growth. Of course, the pandemic caused a surge in job loss in 2020, but Oregon’s unemployment rate remained below the national average, at 5.9% for men and 7.9% for women at the end of the year. Portland’s economy largely relies on the commercial shipping and technology industries. The Port of Portland is the largest freshwater port on the US West Coast and is a major contributor to the city’s economic productivity. The city also is sometimes referred to as “Silicon Forest” because of its expansive tech industry. There are over 1,200 tech companies within the metro area. The largest employer in Portland is Intel, providing over 15,000 jobs for residents.
As of 2021, the median home value in the Portland metro area is around $525,000, and the median household income is about $73,000. Portland is currently a seller’s market, with most housing selling for 100% or slightly more than asking price. The average monthly rent in Portland is about $1500, and the average apartment size is 755 square feet.
The city of Portland is a vibrant and exciting place to live for people of all ages, from college students to families. There are endless cultural attractions, such as the Oregon Museum of Science and Industry and the Portland Art Museum. The city is extremely well known for its wide variety of street food, and has often been named one of the best cities in the country in terms of food quality. Food carts are immensely popular, as well as breweries and coffeehouses. Some of the top ranked neighborhoods in the metro area are the Pearl District, Nob Hill, West End, Arlington Heights, and Laurelhurst.
Get Portland Oregon Property Management
For Portland Oregon Property Management Contact Utopia Management today by calling us at (800) 294-4656 or click here to connect with us online.