How much is a home worth in ZIP code 97223?

The typical home in 97223 is worth $593,941, based on the Zillow Home Value Index.

Are home values rising in 97223?

Home values in 97223 are down 2.5% over the past year, and up 2.6% a year over five years.

What is the typical rent in 97223?

A typical home in 97223 rents for about $1,945 a month, a gross rental yield of 3.9%.

What is the property tax rate in 97223?

The effective property tax rate in 97223 is 0.9% — roughly $5,241 a year on a typical home.

ZIP code 97223 has a population of 50,527 and a median household income of $106,757.

HousingHandbookReference data

…

U.S. ZIP Code · OR97223

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

Typical home value

$593,941^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.5%
5-year / yr: +2.6%
10-year / yr: +4.8%

Relative price

vs U.S.: +109.1%
vs metro: +8.3%
vs state: +29.1%

Price history

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

The typical home in 97223 is worth $593,941 — 8.3% above the Portland-Vancouver-Hillsboro, OR-WA median. Over the past year, values have fallen 2.5%. Homes here rent for a typical $1,945 a month — a 3.9% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

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

Monthly rent: $1,945^[2]
Gross yield: 3.9%^[2]
Cap rate: 2.4%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $5,241^[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: 50,527^[3]
Median household income: $106,757^[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: 6
Elementary: 4
Middle: 1
High: 0

Thomas R Fowler Middle School
Middle · Grades 6–8 · Tigard-Tualatin SD 23J
743 students
Metzger Elementary School
Elementary · Grades PK–5 · Tigard-Tualatin SD 23J
545 students
Charles F Tigard Elementary School
Elementary · Grades K–5 · Tigard-Tualatin SD 23J
453 students
Mary Woodward Elementary School
Elementary · Grades K–5 · Tigard-Tualatin SD 23J
451 students
Montclair Elementary School
Elementary · Grades K–5 · Beaverton SD 48J
282 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 yield3.9%

Net yield (after ~40% expenses)2.4%

Annual rent$23,335

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$3,003

Loan principal$475,152

Down payment$118,788

Total interest paid$606,031

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 ratio2.02

Monthly cost to own$3,934

Monthly rent$1,945

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: 43rd percentile^[1]
Rental yield: 37th percentile^[2]
Property tax: 68th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

8th for most populous in ORView list →

Frequently asked

How much is a home worth in ZIP code 97223?: The typical home in 97223 is worth $593,941, based on the Zillow Home Value Index.
Are home values rising in 97223?: Home values in 97223 are down 2.5% over the past year, and up 2.6% a year over five years.
What is the typical rent in 97223?: A typical home in 97223 rents for about $1,945 a month, a gross rental yield of 3.9%.
What is the property tax rate in 97223?: The effective property tax rate in 97223 is 0.9% — roughly $5,241 a year on a typical home.
Who lives in 97223?: ZIP code 97223 has a population of 50,527 and a median household income of $106,757.

#Comparable ZIPs

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

98686 vs 97223 →
Mount Vista CDP, WA
Typical home
$595,079
Gross yield
4.5%
97015 vs 97223 →
Happy Valley, OR
Typical home
$591,507
Gross yield
3.7%
98685
Salmon Creek CDP, WA
Typical home
$596,695
Gross yield
4.9%
97013
Canby, OR
Typical home
$596,902
Gross yield
4.1%
97007
Beaverton, OR
Typical home
$600,598
Gross yield
4.0%
97045
Oregon City, OR
Typical home
$604,905
Gross yield
3.8%

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Pit ZIP 97223 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · OR97223

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