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Sarah Mitchell

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Compass Real Estate · Oregon

“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”

Oregon(512) 555-0184TX License #0512847

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Oregon housing market

The typical home in Oregon is worth $496,113, down 0.1% over the past year. Homes that actually closed went for a median of $525,500 after 28 days on market. On supply, pricing discipline, and speed of sale, Oregon currently reads as a balanced market at 3.5 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $2,649 a month in principal and interest with 20.0% down.

Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026

Oregon housing market at a glance

Every tile carries the provider and the month it was published

Typical home value

$496,113

-0.1% YoY · Zillow, August 2026

Median sale price

$525,500

Redfin, through May 2026

Typical asking rent

$1,775/mo

Median of 74 cities · Zillow, August 2026

30-yr fixed rate

7.03%

Freddie Mac via FRED, September 2026

Monthly P&I

$2,649

20.0% down, 30-yr fixed

Days on market

+1 days YoY

Active listings

15,036

-8.2% YoY

Median household income

$80,426

U.S. Census ACS, 2023

Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

Where Oregon home prices are heading

Oregon's typical home value is $496,113, down 0.1% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are currently 1.6% below their two-year high, which means sellers who bought at the top may need to bring money to closing rather than take equity out of it.

Against the national picture, Oregon runs 34.6% above the U.S. typical home value of $368,697, and its 12-month move of -0.1% is trailing the national pace of +1.2%.

What would have to change for Oregon prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Oregon is carrying 3.5 months of supply — below the four-month line, so inventory would have to roughly double before sellers lose pricing power. Active listings are -8.2% year over year and new listings -10.6%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.

Market trends

Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

What it costs to buy in Oregon at today's rate

Down payment

$99,223

20.0% of value

Loan amount

$396,890

30-yr fixed

Monthly P&I

$2,649

at 7.03%

Income needed

$113,529

28.0% front-end ratio

A buyer purchasing the typical Oregon home at $496,113 puts $99,223 down, finances $396,890, and pays $2,649 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.

Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $113,529. Oregon's median household earns $80,426 (Census ACS 2023) — a gap of $33,103 above what the median household brings in. Put differently, the median household would spend 39.5% of gross income on principal and interest alone — above the ratio most lenders underwrite to, which is why buyers here typically need a larger down payment, a co-borrower, or a cheaper city than the statewide typical home.

The value-to-income ratio in Oregon is 6.2x. Anything above 5x means prices have run well ahead of local earnings; buyers are relying on dual incomes, prior equity, or outside capital rather than local wages. Model your own numbers in the affordability calculator or the mortgage calculator.

Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023

Buying in Oregon in the next 12 months?

Tell us your timeline. We send the Oregon market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.

Rent or buy in Oregon?

Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 74 largest Oregon cities that carry it: $1,775 a month. Set against a typical home value of $496,113, that is a price-to-rent ratio of 23.3x.

Above 20x, the arithmetic favours renting over short horizons: the purchase premium takes years of appreciation to recover, and that appreciation is not guaranteed. Principal and interest on the typical home runs $874 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.

For a second read on the same question, the Census ACS puts median gross rent across all Oregon households — every unit type, not just what is currently listed — at $1,450 a month (2023), with 63.4% of Oregon households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.

Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.

Supply: what is on the market in Oregon

Oregon inventory, new listings, sales, and supply, latest month versus the same month a year earlier
Measure	Latest	Year earlier	Change
Active listings	15,036	16,384	-8.2%
New listings	6,558	7,334	-10.6%
Homes sold	4,310	4,424	-2.6%
Months of supply	3.5	3.7	-0.2
Sale-to-list ratio	99.5%	99.5%	Below asking

What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.

Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.

Where Oregon home values are moving fastest

12-month change in typical home value · Zillow, August 2026

Rising fastest

Falling

Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 150 largest Oregon cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.

The most and least expensive cities in Oregon

Typical home value across the 150 largest cities · Zillow, August 2026

Most expensive

1.Raleigh Hills$918,294
2.Lake Oswego$884,631
3.Sisters$782,742
4.West Linn$775,545
5.West Slope$768,870
6.Beavercreek$763,504
7.Bend$729,189
8.Hood River$713,733
9.Mulino$705,348
10.Happy Valley$678,674

Most affordable

1.Nyssa$278,791
2.Oakridge$285,273
3.Myrtle Creek$294,633
4.Umatilla$295,284
5.La Grande$301,372
6.Pendleton$301,886
7.Union$305,458
8.Klamath Falls$306,973
9.Ontario$307,769
10.Milton-Freewater$312,255

The spread between Raleigh Hills and Nyssa is 3.3x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Raleigh Hills was the quickest of these markets to clear at 4 days on market (Redfin, through May 2026).

How Oregon compares

Oregon typical home value, 12-month change, median household income, and value-to-income ratio compared with the United States and neighboring states
Market	Typical value	12-mo change	Median income	Value / income
Oregon	$496,113	-0.1%	$80,426	6.2x
United States	$368,697	+1.2%	—	—
Washington	$591,879	-0.3%	$94,952	6.2x
California	$764,158	+0.4%	$96,334	7.9x
Idaho	$478,744	+2.0%	$74,636	6.4x

The three states above are Oregon's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. Idaho carries a lower typical home value than Oregon, which is what makes it the usual destination for equity-funded moves out of Oregon.

Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.

Oregon housing markets by city

358 cities tracked — the 60 largest by population shown

Portland

$527,359

Eugene

$475,563

Salem

$435,095

Gresham

$464,687

Hillsboro

$512,474

Bend

$729,189

Beaverton

$523,970

Medford

$408,210

Springfield

$416,581

Corvallis

$560,117

Albany

$434,335

Tigard

$602,382

Aloha

Pop. 53K

Lake Oswego

$884,631

Grants Pass

$399,421

Keizer

$447,557

Oregon City

$597,974

Redmond

$510,854

McMinnville

$479,385

Bethany

Pop. 32K

Tualatin

$631,967

West Linn

$775,545

Woodburn

$424,089

Forest Grove

$519,764

Wilsonville

$623,949

Newberg

$525,119

Happy Valley

$678,674

Roseburg

$364,061

Hayesville

Pop. 22K

Klamath Falls

$306,973

Ashland

$550,674

Milwaukie

$517,998

Sherwood

$623,223

Altamont

Pop. 20K

Cedar Mill

Pop. 19K

Hermiston

$345,761

Central Point

$418,391

Lebanon

$392,911

Canby

$592,233

Oak Grove

Pop. 17K

Dallas

$477,214

Pendleton

$301,886

Four Corners

Pop. 16K

Troutdale

$484,480

The Dalles

$392,008

Coos Bay

$326,136

St. Helens

Pop. 14K

Cornelius

$476,026

La Grande

$301,372

Sandy

$520,435

Oatfield

Pop. 13K

Gladstone

$512,432

Ontario

$307,769

Oak Hills

Pop. 11K

Prineville

$430,226

Monmouth

$475,714

White City

$355,611

Damascus

$668,453

Cottage Grove

$399,713

Santa Clara

Pop. 11K

Browse all 358 Oregon cities Compare every state →

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What to do next in Oregon

If you are buying

Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Oregon home is $2,649/mo in P&I today.
Pick the city, not the state. Values across Oregon run from $278,791 in Nyssa to $918,294 in Raleigh Hills.
Put two finalists head to head in the city comparison tool before you tour anything.
Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.

If you are selling

Price against your city, not the statewide figure — the spread between Oregon markets is wider than the year-over-year move in any of them.
Read the supply table above. At 3.5 months of supply, you still set the terms — but only if the home is priced to the comps on day one.
Watch days on market in your city, not the state. The statewide median was 28 days (Redfin, through May 2026); your city page carries its own.
Time the listing against new-listing volume. New listings are -10.6% year over year — less competition than a year ago.

Oregon housing market questions

What is the typical home value in Oregon?

The typical home value in Oregon is $496,113 (Zillow, August 2026). That is a -0.1% change over the past 12 months. The median price of homes that actually sold was $525,500 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.

Are Oregon home prices going up or down?

Oregon home values are down 0.1% year over year (Zillow, August 2026). Values sit 1.6% below their highest reading in the past two years.

How much income do you need to buy a home in Oregon?

At the current 30-year fixed rate of 7.03%, a $496,113 home with 20.0% down carries roughly $2,649 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $113,529 before taxes, insurance, HOA dues, or mortgage insurance are added. Oregon's median household income is $80,426 (Census ACS, 2023), a gap of $33,103 above the median household. These figures are illustrative, not a quote or a pre-approval.

Is it cheaper to rent or buy in Oregon?

Typical asking rent across the largest Oregon cities Zillow publishes rent data for is $1,775 a month (median of 74 cities, Zillow, August 2026). Against a typical home value of $496,113, that is a price-to-rent ratio of 23.3x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $874 more than that typical rent each month, before taxes, insurance, and maintenance.

Which Oregon cities are the most affordable?

Among the largest cities we track in Oregon, the lowest typical home values are in Nyssa ($278,791), Oakridge ($285,273), Myrtle Creek ($294,633), Umatilla ($295,284), La Grande ($301,372). Values are Zillow's typical-home-value index for August 2026.

Which Oregon cities are the most expensive?

The highest typical home values among the largest Oregon cities are in Raleigh Hills ($918,294), Lake Oswego ($884,631), Sisters ($782,742), West Linn ($775,545), West Slope ($768,870). Price per square foot, inventory, and days on market for each are on the individual city pages.

Which Oregon cities are appreciating the fastest?

Over the past 12 months the largest home-value gains among Oregon cities we track were in Union (+6.8%), Vale (+4.0%), Milton-Freewater (+3.8%), Myrtle Point (+3.0%), Nyssa (+3.0%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.

How long do homes take to sell in Oregon?

Homes in Oregon spent a median of 28 days on market in the last month Redfin published (Redfin, through May 2026). That is 1 days slower than the same month a year earlier. The quickest market among the state's largest cities was Raleigh Hills at 4 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

How does Oregon compare to neighboring states?

Oregon's typical home value of $496,113 compares with Washington at $591,879, California at $764,158, Idaho at $478,744. The U.S. typical home value is $368,697, putting Oregon 34.6% above the national figure. Idaho is cheaper on a typical-value basis.

Is now a good time to buy in Oregon?

That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 3.5 months of supply statewide (Redfin, through May 2026), active listings -8.2% year over year, and home values -0.1% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.

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