How much is a home worth in ZIP code 97123?

The typical home in 97123 is worth $527,100, based on the Zillow Home Value Index.

Are home values rising in 97123?

Home values in 97123 are down 4.0% over the past year, and up 2.2% a year over five years.

What is the typical rent in 97123?

A typical home in 97123 rents for about $2,215 a month, a gross rental yield of 5.0%.

What is the property tax rate in 97123?

The effective property tax rate in 97123 is 0.8% — roughly $4,104 a year on a typical home.

ZIP code 97123 has a population of 48,410 and a median household income of $109,985.

HousingHandbookReference data

…

U.S. ZIP Code · OR97123

Washington County · Portland-Vancouver-Hillsboro, OR-WA

Typical home value

$527,100^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -4.0%
5-year / yr: +2.2%
10-year / yr: +5.2%

Relative price

vs U.S.: +85.6%
vs metro: -3.9%
vs state: +14.6%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 97123 is worth $527,100 — 3.9% below the Portland-Vancouver-Hillsboro, OR-WA median. Over the past year, values have fallen 4.0%. Homes here rent for a typical $2,215 a month — a 5.0% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $2,215^[2]
Gross yield: 5.0%^[2]
Cap rate: 3.0%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $4,104^[3]

#Climate risk

FEMA National Risk Index ratings for Washington County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively High
Coastal flood: No Rating
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively High
Hurricane: Not Applicable
Tornado: Relatively Low
Earthquake: Relatively High
Winter weather: Relatively Moderate

#Who lives here

Population: 48,410^[3]
Median household income: $109,985^[3]

#Migration

Household moves in and out of Washington County over a year, from IRS tax-return data.

Net migration: -1,540^[5]
Moved in: 18,900
Moved out: 20,440

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 13
Elementary: 9
Middle: 2
High: 2

Century High School
High · Grades 9–12 · Hillsboro SD 1J
1,565 students
Hillsboro High School
High · Grades 9–12 · Hillsboro SD 1J
1,343 students
R A Brown Middle School
Middle · Grades 7–8 · Hillsboro SD 1J
679 students
South Meadows Middle School
Middle · Grades 7–8 · Hillsboro SD 1J
598 students
Imlay Elementary School
Elementary · Grades K–6 · Hillsboro SD 1J
465 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.0%

Net yield (after ~40% expenses)3.0%

Annual rent$26,582

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,665

Loan principal$421,680

Down payment$105,420

Total interest paid$537,829

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.56

Monthly cost to own$3,447

Monthly rent$2,215

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 25th percentile^[1]
Rental yield: 96th percentile^[2]
Property tax: 45th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 97123?: The typical home in 97123 is worth $527,100, based on the Zillow Home Value Index.
Are home values rising in 97123?: Home values in 97123 are down 4.0% over the past year, and up 2.2% a year over five years.
What is the typical rent in 97123?: A typical home in 97123 rents for about $2,215 a month, a gross rental yield of 5.0%.
What is the property tax rate in 97123?: The effective property tax rate in 97123 is 0.8% — roughly $4,104 a year on a typical home.
Who lives in 97123?: ZIP code 97123 has a population of 48,410 and a median household income of $109,985.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

97116 vs 97123 →
Forest Grove, OR
Typical home
$528,956
Gross yield
3.8%
97114 vs 97123 →
Dayton, OR
Typical home
$531,791
Gross yield
—
97080
Gresham, OR
Typical home
$521,235
Gross yield
3.9%
97055
Mount Hood Villages CDP, OR
Typical home
$520,813
Gross yield
5.2%
97054
Deer Island CDP, OR
Typical home
$535,130
Gross yield
—
97027
Gladstone, OR
Typical home
$518,543
Gross yield
4.0%

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Pit ZIP 97123 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · OR97123

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