Multnomah County, Oregon, Features 6,197 Vacant Properties, Primarily Off-Market
This inventory represents 27.1% of Oregon's total, offering distinct investor opportunities.
Multnomah County, Oregon, stands out as a prime target for real estate investors seeking value-add opportunities, reporting 6,197 vacant properties in July 2026. This figure positions Multnomah County at #1 among Oregon's 36 counties, accounting for a substantial 27.1% of the state's total vacant inventory of 22,847 properties. According to BatchData's Vacancy Rates & Investment Opportunities Report, this concentration of vacant properties highlights the county's potential for those looking to acquire and revitalize neglected assets.
County Overview
Multnomah County's 6,197 vacant properties represent a significant portion of its total 6,876 parcels, signaling a distinct landscape for real estate investing. A key characteristic of this market is the overwhelming prevalence of off-market properties among its vacant inventory. A remarkable 95.0% of these vacant properties, totaling 5,886 units, are currently off-market, presenting a challenge and an opportunity for investors who excel in sourcing properties outside traditional channels. Conversely, only 5.0%, or 311 properties, are listed on the open market.
Further analysis of the MLS status for these vacant properties underscores this off-market trend. While 2,111 properties are explicitly marked as 'Off Market' (34.1% of the total vacant inventory), a significant 1,851 (29.9%) are categorized as 'Unknown' in their MLS status, suggesting they are not actively listed. Additionally, 1,819 properties (29.4%) are flagged as 'Sold,' indicating recent transactions that may still involve a period of vacancy or renovation. Only a small fraction of vacant properties are currently 'Active' on the MLS, with 213 units (3.4%), 'Pending' at 98 units (1.6%), 'Canceled' at 78 units (1.3%), or 'Expired' at 27 units (0.4%). This market structure means that investors targeting vacant properties in Multnomah County will largely need to employ proactive strategies such as skip tracing and direct outreach to uncover opportunities.
Local Market Context
The composition of vacant properties in Multnomah County is predominantly residential, reflecting the broader housing landscape of the region. Residential properties account for 4,919 of the 6,197 vacant units, representing a significant 79.4% share. This high concentration in residential assets suggests a strong potential for fix-and-flip projects, rental conversions, or rehabilitation tailored to housing demand. Beyond residential, commercial properties make up the next largest segment of vacant inventory, with 915 units (14.8%). Industrial properties contribute 270 units (4.4%), while Office properties represent 37 units (0.6%). Miscellaneous properties, Vacant Land, Unknown, and Exempt categories each constitute less than 0.5% of the total, with 16 (0.3%), 15 (0.2%), 9 (0.1%), and 7 (0.1%) units respectively.
Multnomah County's vacancy profile, particularly its #1 ranking within Oregon with 27.1% of the state's 22,847 vacant properties, indicates a distinct market environment. While the state of Oregon itself holds 22,847 vacant properties, a relatively small portion of the national total of 2,199,634, Multnomah County’s substantial share within the state suggests it is a hub for these types of investment opportunities. The county’s mix of vacant properties, heavily weighted towards residential, aligns with patterns seen in densely populated urban centers, where residential turnover and distress can be more pronounced. However, the sheer volume of vacant properties here, compared to other counties in Oregon, makes it an outsized contributor to the state's overall distressed inventory.
For investors, this data points to Multnomah County as a critical market for identifying properties with potential for revitalization. The high proportion of off-market vacant properties (95.0%) means that success hinges on advanced property search and data-driven strategies, such as leveraging property data API solutions to uncover these hidden assets. While the county's composition of vacant properties by type generally tracks with an urban profile, its leading position in the state for total vacant units underscores its unique significance for those targeting value-add real estate. Investors focused on pre-foreclosure data or REO report insights will find that the large pool of vacant properties offers ample grounds for detailed due diligence and strategic acquisition within this dynamic Oregon market.