Portland real estate vs inflation: did it beat the dollar?
133% × 46%
Updated June 1, 2026 · Redfin · BLS / FRED (CPIAUCNS)
Since 2013, Portland real estate is up 133% while U.S. consumer prices rose 46%. Portland real estate far outpaced inflation — but the ride was brutal: its worst drop was 16%. Figures in U.S. dollars.
Base 100 since 2013
Why compare Portland home prices (US$/m²) and U.S. inflation (CPI-U)
Portland is a mid-to-upper-tier Pacific Northwest market that grew quickly through the 2010s as it drew residents priced out of larger West Coast metros, drawn by a comparatively lower cost of living and a distinct urban character. Its economy mixes technology, manufacturing and a strong creative and small-business base. Prices rose substantially over the decade, slowed by the urban growth boundary that limits sprawl and tightens supply. It fell during the 2008 downturn and recovered over the following years, settling well below neighboring Seattle and the California coast in price.
Returns by window
| Window | Portland home prices (US$/m²) | U.S. inflation (CPI-U) |
|---|---|---|
| 1 year | 1% | 4% |
| 5 years | 5% | 24% |
| 10 years | 39% | 39% |
| since 2013 | 133% | 46% |
The price of return: risk
| Asset | Annual volatility | Worst drop |
|---|---|---|
| Portland real estate | 9% | -16% |
| Inflation (CPI) | 1% | -2% |
$10,000 in each, since 2013
| Asset | Value today |
|---|---|
| Portland real estate | $23,328 |
| Inflation (CPI) | $14,553 |
Frequently asked questions
Did Portland real estate beat inflation?
Over the period, Portland real estate returned 133% while U.S. consumer prices rose 46%. The gap is what the asset earned beyond simply keeping pace with the dollar.
Does this account for the dollar losing value?
Yes. The inflation line is U.S. CPI, the measure of how much purchasing power the dollar lost over the same period. Returns above that line are gains in real terms.
Does a higher return mean a better investment?
Not on its own. A higher return came with higher risk here — the volatility and the largest drop on this page show how much the value swung along the way.
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Descriptive, educational content computed from official public data. Not investment advice. Past performance does not guarantee future results.