Should You Rent or Own Your Floating Home Slip in Portland?

If you’re dreaming of life on the water in Portland, Oregon, buying a floating home is a lifestyle choice that brings peace, nature, and community. But a crucial decision lies beneath the surface—should you rent or own your slip? This choice affects not only your monthly expenses, but also your long-term financial security and lifestyle flexibility.

Here’s a breakdown of what Portland-area homebuyers should consider in June 2025.

What Is a Slip, and Why Does It Matter?

A slip is the water space and dock where your floating home is permanently moored. In Portland, there are two main types of slip arrangements:

• Owned Slips (typically part of a co-op or HOA)

• Rented Slips (leased from a private moorage owner)

Both have their pros and cons, but your decision can influence everything from financing options to community culture.

Benefits of Owning Your Slip

1. Stability and Control

Owning your slip means you’re part-owner of the moorage, giving you long-term security. You're not subject to sudden rent increases or changes in moorage ownership that might force a move.

2. Long-Term Investment Potential

In popular moorages like Jantzen Beach or Macadam Bay, owned slips can appreciate in value—especially as moorage space becomes scarcer in Portland.

3. Lower Monthly Costs

Though upfront costs are higher, HOA dues (averaging $350/month in Portland) are typically lower than slip rent, which often ranges from $600 to $1,100/month.

4. More Say in Community Rules

Slip owners can vote on moorage rules, maintenance projects, and budgets—giving you more say in your living environment.

Reasons to Consider Renting Your Slip

1. Lower Upfront Costs

Renting a slip means you’re only purchasing the floating home, not a share in the moorage. This can lower your initial financial hurdle.

2. Flexibility

If you’re unsure whether floating home living is your long-term lifestyle, renting allows you to try it without committing to moorage ownership.

3. Simplified Process

Rented slips often involve less complex paperwork, though you’ll still need to comply with moorage-specific rules.

What’s Right for Portland Buyers in 2025?

Here in Portland, about half of all floating homes are in owned-slip moorages. In neighborhoods like Sellwood and Hayden Island, ownership is often preferred for long-term residents, while Multnomah Channel and parts of Vancouver offer more rental options.

If you're planning to stay for years and want predictability and equity growth, owning your slip is often the smarter financial move. However, if flexibility or a lower price point is more important right now, renting may offer an easier entry into this unique lifestyle.

Final Thought

Owning or renting your floating home slip is one of the most impactful decisions you'll make. As Portland continues to embrace waterfront living, understanding this distinction will help you choose the path that aligns with your goals.

Still unsure? Consult with a Portland-based floating home specialist to assess your options, finances, and desired lifestyle. With the right guidance, you’ll be anchored in the perfect spot.

Thinking about a floating home in Portland this summer? Let us help you weigh your options - on land or water. Download the full version here.