Inside the world’s most famous floating home

A home near the water? Nice. A home on the water? That’s possible on the Aqua Star, Portland’s most famous floating home, which is currently for sale for $999,000.

Located on the Columbia River, this 2,737-square-foot home’s space-aged design and curvy aluminum walls have garnered appearances on Portlandia, the 1993 movie Hear No Evil, and HGTV’s Extreme Homes. It’s all but begging to be turned into an Airbnb, and as luck would have it, the Sundance Marina where the Aqua Star is moored allows for short-term rentals.

But what’s it like to actually own a floating home? To find out, I chatted with the listing broker Dan Comfort, who’s also a contractor for floating homes and has lived in them for 24 years. Here’s what he had to say about these unique living quarters and his hopes for the Aqua Star.

How were you first introduced to the idea of floating homes? “I was always a water person, a jet-skier going up and down the channel thinking, ‘Man, look at all these floating houses. If I just lived here, I wouldn’t have to deal with the boat ramp and I’d be here all the time.’ So I put up flyers around marinas: ‘Contractor wants to trade work for discounted rent’ kinda thing. Then I landed my first rental, then I bought one, then I bought another one. So it was kind of a destiny.”

How many floating homes are there in your area, and what’s the best part of living in one? “Around 2,400. A lot of residents say, ‘When I get home, I feel like I’m on vacation.’ People are smiling, and they say hello. You could be in a subdivision somewhere and never know your neighbors, but here it’s a different mindset.”

What are the biggest challenges of owning a floating home? For starters, how are they built? “The construction is done on the water, with cranes and barges. The foundation is typically logs, but the logs aren’t what floats the house. It’s big Styrofoam blocks wrapped in plastic that they drop in the water with weights, then swim into place. Each brick offsets 800 pounds of buoyancy. When people move in or out with a lot of furnishings like a piano or hot tub, then you may have to add or remove some.”

Is a floating home harder to maintain? “Above water, it’s the same. Below, the float degrades over time. You have to inspect them and add shims or make repairs. Labor costs are also higher because everything has to be carried down ramps and docks. And if a contractor shows up with a level, they don’t know what they’re doing—floating homes shift slightly, so you have to use your eyes.”

Are floating homes impacted by bad weather or floods? “Most floating homes are in flood zones but aren’t required to carry flood insurance because the homes and the docks are designed to rise and fall with the water. The 100-year flood of 1996 is a prime example. The parking lots were flooded, but all the floating homes were just sitting there just fine.”

How does financing work for floating homes? “They are considered personal property, not real estate. We have three or four floating home–specific lenders that offer 20- to 30-year loans based on the float’s condition. And 20% down is required.”

Are floating homes more or less expensive than land homes? “Per square foot, they’re usually similar, but resale depends heavily on location, the condition of the float, and whether the slip is owned or rented. For the Aqua Star, there is a separate $2,060-per-month fee to rent the slip.”

What do you think of the Aqua Star’s potential as a real estate investment? “It’s rare to find a floating home in a place that allows short-term rentals. There’s even room around the Aqua Star to add seven or eight more floating homes. It’s a mini-development opportunity.”

If these homes float your boat, scroll down to see more pics of the Aqua Star and Dan’s own water-worthy residence.