WHAT IS "AFFORDABLE"
To us, 'affordable' means a commitment from the developer to care as much about achieving a mission as earning a profit. Here at Renewal Housing, that part’s easy—our partners have been building affordable housing since 1949. In practice, our commitment means that every decision on this project was made with two key principles in mind—maintain the highest possible quality while keeping the price affordable to the typical Portland resident.
Prices for a one-bedroom condo at Onejoy start in the low $200s and the average price across all 12 units is $270,000. When was the last time you saw a new construction, one-bedroom condo for sale on the Portland peninsula for less than $275,000? (Spoiler alert: it doesn’t exist.)
Check out our price list to find the house that’s right for you—and your budget.
RENT OR BUY?
Do you make an average Portland income and wondering if now’s the time to buy versus rent? Here’s a great link to help you do the math.
Bottom line: while each person’s financial situation will yield slightly different results, this analysis shows that, generally, you would need to rent an apartment for less than $1,200 a month to be a better financial deal than buying a $260,000 one-bedroom condominium at Onejoy.
Are you renting a market rate, one-bedroom apartment in the West End for less than $1,200?