Happy Valley, OR housing market
Typical home value
$676K
▼ 0.2% 1 yr
Typical rent
$1,871/mo
▲ 0.3% 1 yr
Gross rent yield
3.3%
U.S. 6.3%
5-year home value change
+7%
U.S. +20%
Key takeaways
- 1The typical home in Happy Valley is worth $675,784, down 0.2% over the past year and up 7% over five years.
- 2Typical rent is $1,871 a month (+0.3% YoY), a gross rent yield of 3.3% (below the Portland, OR metro's 4.0%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $3,714/mo, $1,843 more than typical rent.
- 4Zillow forecasts the Portland, OR metro's home values to change −0.1% over the next 12 months.
Market temperature (Portland, OR metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 33/100, #388 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Happy Valley compares
| Measure | Happy Valley | Portland, OR metro | United States |
|---|---|---|---|
| Typical home value | $675,784 | $539,403 | $366,157 |
| Home value, 1-yr change | −0.2% | −0.2% | +1.2% |
| Typical rent | $1,871 | $1,803 | $1,932 |
| Rent, 1-yr change | +0.3% | +1.1% | +2.7% |
| Gross rent yield | 3.3% | 4.0% | 6.3% |
| Price-to-rent ratio | 30.1 | 24.9 | 15.8 |
| Mortgage P&I, typical home | $3,714 | $2,964 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Happy Valley rental, pre-filled.
Rent vs buy in Happy Valley
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $676K home.
Other cities in the Portland, OR metro
Portland, OR
$524K home$1,719 rent
▲ 0.5% 1 yr
Vancouver, WA
$498K home$1,803 rent
▼ 0.1% 1 yr
Beaverton, OR
$520K home$1,871 rent
▼ 1.9% 1 yr
Gresham, OR
$462K home$1,601 rent
▼ 0.5% 1 yr
Hillsboro, OR
$510K home$1,969 rent
▼ 2.3% 1 yr
Tigard, OR
$599K home$1,798 rent
▼ 0.9% 1 yr
Oregon City, OR
$591K home$2,006 rent
▲ 0.5% 1 yr
Milwaukie, OR
$509K home$1,809 rent
▲ 1.0% 1 yr
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.