PORTLAND Ore. (KPTV) – A new report from LendingTree paints a grim picture for first-time homebuyers in the Pacific Northwest, ranking Portland as the metro with the worst housing crisis outlook among the nation’s largest 100 cities.
The study analyzed vacancy rates, housing unit approvals, and home value-to-income ratios, concluding that three of the five worst metros are in the Pacific Northwest.
- Portland – 1st
- Boise – 2nd
- Spokane – 4th
The study shows Portland has a median home value of $526,500, while the median household income is $94,573.
Matt Schultz, LendingTree’s chief consumer finance analyst, says there simply aren’t enough homes in the Pacific Northwest…