Housing Costs in Gresham by Type

The Housing Market in Gresham Today

Gresham, Oregon offers a diverse range of housing options for its residents, from cozy apartments to spacious single-family homes. In recent years, the local housing market has experienced some notable shifts. Inventory has tightened as more people discover the appeal of living in this vibrant Portland suburb. New housing developments are rising downtown and in other key areas, adding modern options to the mix.

One unique characteristic of Gresham’s housing landscape is the increasing number of apartments offering more green spaces and community amenities. Many complexes now feature walking trails, community gardens, and pet-friendly areas that cater to the active lifestyles of residents. This trend reflects the city’s commitment to livability and sustainability.

Despite the growth and development, Gresham remains relatively affordable compared to Portland proper. The city’s proximity to major employers, combined with its lower housing costs, makes it an attractive choice for professionals and families seeking a balance of urban amenities and suburban comfort.

Renting in Gresham: What’s Typical?

For those considering renting in Gresham, it’s helpful to know what to expect in terms of costs. As of 2025, the average rent for a one-bedroom apartment in Gresham is around $1,400 per month. Two-bedroom apartments typically range from $1,600 to $1,900, depending on location and amenities.

Popular renter areas in Gresham include downtown, where many newer apartment complexes are located, as well as established neighborhoods like Rockwood and Centennial. These areas tend to attract a mix of young professionals, couples, and small families who appreciate the balance of affordability and convenience.

Rent in Gresham has risen by about 5% in the last year, but areas like Rockwood still offer relatively affordable options for renters on a budget. Many apartments in these neighborhoods include utilities like water, trash, and sometimes even internet in the monthly rent, which can help keep costs manageable.

Owning a Home in Gresham

For those looking to purchase a home in Gresham, the median home price currently stands at around $450,000. With a 20% down payment and a 30-year fixed mortgage at 4% interest, buyers can expect a monthly mortgage payment of approximately $1,700.

In addition to the mortgage, homeowners in Gresham should budget for property taxes, which average about $3,500 per year for a median-priced home. Homeowners insurance typically runs around $1,000 annually, while HOA dues (for those in communities with shared amenities) can range from $200 to $400 per month.

For a median-priced home, buyers in Gresham can expect a total monthly housing cost of around $2,450, including mortgage, property taxes, insurance, and average HOA dues. While this is higher than the cost of renting, many see homeownership as a long-term investment in stability and equity.

Renters vs. Homeowners: Who Lives Where?

Gresham has a homeownership rate of around 55%, meaning slightly more than half of residents own their homes. The remaining 45% are renters. This split is influenced by a variety of factors, including age, income, and lifestyle preferences.

Younger individuals and couples, particularly those under 35, are more likely to rent in Gresham. Many are drawn to the flexibility and lower upfront costs of renting, especially as they establish their careers or save for a future home purchase. Families with children are more evenly split between renting and owning, often depending on their financial situation and long-term plans.

While renting is common among younger residents, a significant portion of older Gresham residents own their homes. Many have lived in the city for decades and have built equity over time. Retirees, in particular, often prefer the stability and predictability of homeownership.

Table: Typical Monthly Housing Costs in Gresham

Here’s what housing costs might look like each month in Gresham:

Estimates reflect mid-range properties and average usage.

What’s Driving Costs Up or Down?

Several factors influence the cost of housing in Gresham. On the demand side, the city’s growing population and strong job market are putting upward pressure on prices. As more people move to the area for work or to escape the higher costs of Portland, competition for available homes and apartments increases.

On the supply side, zoning regulations and the pace of new construction also play a role. While Gresham has seen an uptick in new housing developments in recent years, particularly in the form of apartment complexes, the supply has not always kept pace with demand. This can lead to higher prices, especially in desirable areas.

Policy decisions at the local and state level also have an impact. Rent control measures, for example, have been enacted in Oregon in an effort to stabilize prices for renters. While these policies can provide some relief, they may also have unintended consequences, such as disincentivizing new construction or upgrades to existing properties.

FAQs About Housing in Gresham

• Is Gresham affordable to live in? Compared to Portland, Gresham offers more affordable housing options. However, costs are still relatively high compared to some other parts of the country. Affordability often depends on individual circumstances, such as income, debt, and lifestyle preferences.
• Why are housing prices changing? Housing prices in Gresham are influenced by a combination of supply and demand factors, including population growth, job market conditions, zoning regulations, and construction trends. Policy decisions at the local and state level can also have an impact.
• How does Gresham compare to nearby cities? Gresham is generally more affordable than Portland, but prices are higher than in some smaller towns in the region. Compared to cities like Troutdale or Fairview, Gresham offers a wider range of housing options and amenities, but at a slightly higher cost.

Making Smart Housing Decisions in Gresham

Whether you’re renting or buying, housing costs are likely to be your largest monthly expense in Gresham. It’s important to consider not just the sticker price, but also the total cost of living, including utilities, transportation, and other necessities. Our Monthly Budget Examples for Gresham Residents can help you plan accordingly.

For renters, it’s wise to budget around 30% of your income for housing costs. This leaves room for other expenses and savings. When considering an apartment, factor in the cost of utilities, parking, and any additional fees. Many newer complexes in Gresham include some utilities in the rent, which can simplify budgeting.

Homebuyers should also aim to keep their total housing costs (including mortgage, taxes, insurance, and HOA fees) under 30% of their income. Keep in mind that while a fixed-rate mortgage offers stability, other costs like property taxes and insurance can rise over time. Our Cost of Living in Gresham (2025 Guide) provides a comprehensive overview of what to expect.

Ultimately, the right housing choice depends on your unique needs, preferences, and financial situation. By understanding the costs and trends in Gresham’s housing market, you can make an informed decision that balances your budget with your desired lifestyle.