According to a new report from Redfin, Portland, Ore., regained a spot in the top 10 list of metro areas with the highest net inflow of Redfin users, coming in at seventh after falling out of the list in Q1 of 2019.
“The ability to work remotely is a huge factor in people relocating, especially within the same time zone,” said Portland Redfin agent Megan Warren. “I just met with a homebuyer who is moving here from Oakland in the spring. Working remotely is allowing him to sell his condo in a less desirable part of the Bay Area for over $500,000 and buy a serious upgrade in space, safety, and neighborhood in the Portland area.”
For the same $500K-$1M price tag, another attractive upgrade option for out of state buyers is to purchase a fourplex or fiveplex. Portland, Oregon is an ideal city to enter the multifamily real estate investment game at a relatively affordable price tag. Apartments in Portland can generate great monthly cash flow and are an excellent tool for building long-term wealth.