8 Ways to Save Money in Portland, Oregon (2024)

FAQs

How can I save money living in Portland? ›

(KOIN) — If you're a single Portland resident making less than $52.90 per hour, you're not living comfortably, according to a 2024 study published by the financial tech company SmartAsset. That hourly pay equates to $110,032 per year.

The cost of living in Portland, OR is 10% higher than the state average and 20% higher than the national average. Portland, OR housing is 50% more expensive than the U.S average, while utilities are about 4% less pricey.

A family of four estimated monthly costs are 4,812.5$ without rent. A single person estimated monthly costs are 1,355.8$ without rent. Portland is 19.3% less expensive than New York (without rent). Rent in Portland is, on average, 53.1% lower than in New York.

— Homebuyers need to earn an income of $161,624 to comfortably afford a mortgage in Portland — about $65,664 more than they needed in 2020 — according to new data from Zillow. The data looked at the nationwide trend of home prices outpacing income gains over the last four years.

Study: $74,088 required to live comfortably in Portland, after taxes | News | portlandtribune.com.

The median salary in Portland, OR is $62,640, with 80% of salaries falling between $31,320 and $139,200. Salaries in Portland, OR are generally above the national average.

In total, 9,300 Portland area household moved north to Washington (30% of all out-migrants), including 5,500 to Clark County specifically (18%). Another 5,900 households moved south to California (19%), with about a 60/40 split between northern and southern California destinations.

Are more people moving out of Portland? ›

Portland Population Decreased in 2021

Then the U.S. Census Bureau for Portland showed that Portland city proper (not its suburbs) lost 11,000 residents from July 2020 to July 2021 (numbers are not yet updated for 2022).

The metro area as a whole, which includes Vancouver, Portland and Hillsboro, Ore., lost about 2 percent of its population, or about 4,700 people, between 2020 and July 2023. However, the loss has slowed, with a net loss of less than 1,000 people in 2023. However, Clark County's population is rising.

Monthly electric bills are a product of how much electricity you use per month and your electric rate. In Portland, OR, the average monthly electric bill for residential customers is $165/month, which is calculated by multiplying the average monthly consumption by the average electric rate: 1,009 kWh * 16 ¢/kWh.

Baker City is one of the cheapest places to live in the state; it stacks up favorably vs. the cost of living in Oregon. It is located in the northwestern corner of the state and is known for the Elkhorn Mountains, Anthony Lakes Ski Area, and the Eagle Cap Wilderness Area.

$539,524. The average Portland home value is $539,524, up 0.9% over the past year and goes to pending in around 24 days.

Housing is why. Portland residents pay more for food, transportation, health care and homes than typical American households, according to a broad survey of regional prices.

The cost of living in Portland, Oregon, is 22% higher than the national average—with housing costs that exceed the national average by a whopping 56%. So, if you're considering a move to Portland, know that living there is really expensive.

A: Yes, Portland, Oregon, is a great place to move. There are plenty of jobs, a high quality of life, and access to lots of natural areas. Q: Is it expensive to move to Portland? A: Your cost for moving to Portland, Oregon, will depend on the distance you're traveling and how much stuff you have.