Last winter, I heard a story about a retired couple living in Portland who were shocked when they saw their gas bill. They had turned on the heating in December as usual, but the amount on the bill was noticeably higher than in previous years. This was the point where they began to wonder whether they should continue living in a single-family home or move to a condo that requires less maintenance.

The first question that comes to mind is this: How much have heating costs actually increased in Portland? If the proposed rate increase by NW Natural is implemented, the average winter gas bill for single-family homes is estimated to be $138 per month, while for multi-family homes, it is around $136 (based on Oregon CUB, reflecting the proposed increase effective November 2025). Electricity rates are also on the rise, with Portland General Electric planning a 5% increase starting March 31, 2026, adding about $8 to the average household bill (according to OPB).

So, why is there a difference in heating and cooling costs between single-family homes and condos? Single-family homes have a larger surface area of walls that are directly exposed to the outside, leading to greater heat loss, while multi-family buildings share walls with neighboring units, reducing heat loss. This is why the average gas bill for multi-family homes appears lower than that of single-family homes in NW Natural's data.

The next question is about the difference in home prices and maintenance fees. The median listing price for condos in Portland is $395,000, while for single-family homes, it is $668,000, resulting in a difference of over $250,000 between the two types (based on 2025 data). This means that with the same budget, moving to a condo could free up funds for living expenses or medical costs.

However, it is important to consider that condos come with HOA fees. The median HOA fee in Portland has risen to $111 per month (up from $98 in 2024), and for specific types, mid-rise condos range from $350 to $600 per month, while townhomes range from $200 to $450. Ultimately, to determine which option is more advantageous, one must calculate the total costs, including monthly maintenance fees.

Some may also consider active adult communities, which typically require residents to be 55 or older. These communities often include landscaping, snow removal, and community center fees in their maintenance costs, but they tend to have higher HOA fees compared to regular condos. There are still not many of these types of communities near Portland, so if you're interested, it's a good idea to check if there is a waiting list.

Insurance is another often-overlooked item. In condos, the HOA manages the building's insurance, but individuals must obtain separate insurance for their personal belongings, while single-family homes require comprehensive homeowners insurance that covers both fire and natural disasters.

• Single-family homes - Higher heating costs due to greater heat loss, but ample space and privacy.
• Townhomes - Lower heating costs and relatively lower HOA fees.
• Condos - Best heating efficiency but the highest HOA fee burden.

Questions about property taxes also arise. Oregon operates a Senior and Disabled Property Tax Deferral program instead of a separate senior exemption. Homeowners aged 62 and older who have lived in their homes for at least five years are eligible, and those with a household income of $70,000 or less in 2026 can apply. It is important to note that this is not a tax exemption; rather, the state pays the property tax on behalf of the homeowner, which must be repaid later with 6% interest (according to the Oregon Department of Revenue).

School districts may not be a top priority after retirement, but they remain an important factor when considering resale. Areas preferred by Korean families often have a relatively limited supply of condos, so if you have a specific community in mind, be sure to check the school district boundaries in advance.

In summary, when considering housing types in Portland, the questions to ask in order are: First, how much is the annual difference in winter heating costs? Second, even with HOA fees included, is the total cost still more favorable for condos? Third, if using programs like the Senior Deferral, can you handle the burden of interest that will need to be repaid later? This article does not constitute investment or legal advice, and it is recommended to consult with real estate and tax professionals before making any contracts or applications.