Quick facts: Portland, NY

Quick Facts

113.7
Cost of Living
above US average
4,827
Population
10.36
Crime Rate per 1000
below US average
$65,000
Median Income
below US average
$149,900
Median House Price
above US average
$2943
Average Rent
above US average
8%
Poverty Rate
below US average
5.0%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $65,000.

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Income Needed to Buy

βœ“ Affordable
$47k/year
Based on $149,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($65,000) exceeds requirement
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Income Needed to Rent

⚠ Stretch
$126k/year
Based on $2943/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $126k vs median $65,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Portland, NY

Portland, New York, is a small town located in Chautauqua County, rich in natural beauty and rural charm. Nestled along the shores of Lake Erie, Portland offers stunning waterfront views and a serene atmosphere ideal for outdoor enthusiasts. The town is characterized by its picturesque landscapes, including rolling hills and lush greenery, making it a perfect spot for hiking, fishing, and simply enjoying nature. The community in Portland is tight-knit, with a population that values its rural roots and local traditions. The town hosts various events throughout the year that bring residents together, fostering a strong sense of community. Key features include nearby parks, local farms, and proximity to wine trails, reflecting the agricultural richness of the region. Portland is also known for its history, dotted with charming historic sites and local landmarks that tell the story of the area. With its blend of natural beauty, community spirit, and local attractions, Portland, NY, is a quaint and inviting place to visit or call home.

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