Home Insurance in Portland, Oregon
The median home value in Portland is $581,500, 5% higher than the Multnomah County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Portland was built around 1966. About 45% of homes were built before 1960, about 6 points above Multnomah County's 40%.
Housing in Portland breaks down to 57% single-family homes, 33% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 72% of owner-occupied homes in Portland have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 52% of occupied homes in Portland are owner-occupied.
49% of homes in Portland are primarily heated with electricity.
Multnomah County's top FEMA-rated hazard is earthquake (Relatively High), per FEMA's National Risk Index. Multnomah County had 4,419 active NFIP flood policies as of September 2026. See the full Multnomah County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Oregon carries a statewide average premium of $1,003 per year.
Key figures
| Median home value | $581,500 |
|---|---|
| Median year built | 1966 |
| Owner-occupied share | 52% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top county hazard | Earthquake (Relatively High) |
| Active NFIP policies in Multnomah County | 4,419 |
| Home insurance premium | $1,003 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)