Portland Oregon vs. Vancouver BC

I just returned from a trip to Portland Oregon and thought it would be interesting to compare this specific US market to Vancouver. Portland is the 3rd largest city in the pacific northwest, after Vancouver and Seattle. Like most place Portland has seen a large increase in house prices, but has seen the market cool or drop recently.

According to the most recent numbers I can find:

Vancouver median family income for 2004: $56,200. (source)
Portland median income for 2003: $67,900 usd. (source)

Vancouver average house price March 2006: $705,000. (source)
Portland average house price: $318,200 usd. (source)

Converting the Portland numbers to $CAD at today exchange rate gives you an average household income of $77,107 CAD to buy the average house costing $361,347.

Here's a specific example on house prices in Portland: The house I was staying in was located in North Portland, 15-20 minutes out of the downtown core. In Vancouver terms I think it would be approximately like southeast vancouver. This is an older 2 story 'fixer upper' house on a double lot with full basement and some renovations on a quiet street near a major road. The house was recently assessed at $230,000.