Right now, Portland is one of the more desired cities to live in, so there are some down sides to this: Parking is difficult to find, and tickets are frequent. Travel time out of the city to close areas is often upwards of an hour during peak traffic times. Housing is very expensive, moves quickly and is highly competitive. Also, be prepared for a ridiculous amount of hipsters and rain.
All this aside, Portland does have good qualities! Most people in the city are friendly and excepting of a variety of lifestyles. It is very LGBTQ friendly, and is safer than most cities I have visited. Lots of tattoos, coffee shops, good eats, and cat ladies (and gents). Not very far from the coast, with plenty of hiking and outdoors adventures nearby. Overall, a fun place to live.