New Listing
23
$111,300
16300 SE Highway 224 Unit 10
Happy Valley, OR 97089
2 bd2 ba1,296 sqft$86/ft²
Mobile home
Marjorie Baker · McKenzie-Baker Properties
View photos & details
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Happy Valley, OR Housing Market
Seller's market-1.6% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Happy Valley, OR is worth $678,674, fell 1.6% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $679,988, +1.1% year over year (through May 2026). With 2.8 months of supply and homes going under contract in about 17 days, Happy Valley is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $678,674 home is about $3,623/mo in principal and interest.
Key numbers for Happy Valley, OR
Typical home value
$678,674
-1.6% in 12 months
Zillow, August 2026
Typical asking rent
$1,958/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$679,988
+1.1% year over year
Redfin, through May 2026
Days on market
17
Fast-moving
Redfin, through May 2026
Active listings
120
2.8 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$120,324
Home costs 5.6x income
U.S. Census ACS, 2023
Sale-to-list ratio
99.4%
Selling below asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Happy Valley a buyer's or seller's market?
Seller's market2.8 months of supply17 days on market99.4% of asking
Happy Valley, OR is a seller's market, based on 2.8 months of supply and homes selling in about 17 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Happy Valley housing market data show?
Every row below is Redfin's final published month for Happy Valley, OR. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $679,988 |
| Median list price | $688,290 |
| Year-over-year price change | +1.1% |
| Median price per sq ft | $273/sq ft |
| Median days on market | 17 days |
| Active inventory | 120 listings |
| Months of supply | 2.8 months |
| Sale-to-list price ratio | 99.4% |
| Homes sold (that month) | 43 |
| New listings (that month) | 60 |
| Listings with a price cut | 38.3% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Happy Valley is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Happy Valley is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Happy Valley home prices moved?
Over the last three years the median sale price in Happy Valley, OR fell 1.4%, from $689,500 to $679,988. The live Zillow value series has fell 1.6% in the last 12 months, which is the more current read now that Redfin's series has stopped. 38.3% of Happy Valley listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay. For prices to fall meaningfully from here, supply would have to keep building past 2.8 months while the sale-to-list ratio slips below its current 99.4%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Happy Valley?
Priced off the typical home value of $678,674 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $135,735 | $542,939 | $3,623/mo |
| 5% | $33,934 | $644,740 | $4,302/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $3,623, that implies roughly $155,277 a year before you add taxes and insurance. The median household in Happy Valley earns $120,324, about $34,953 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 5.6x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Happy Valley in the next 12 months?
Tell us your timeline. We send the Happy Valley market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Happy Valley?
Typical asking rent in Happy Valley, OR is $1,958/mo, against a typical home value of $678,674. That is a price-to-rent ratio of 28.9x, which means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Compared head to head, 20% down puts principal and interest at $3,623 a month — $1,665 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Happy Valley?
Active listings in Happy Valley, OR went from 154 in May 2025 to 120 in May 2026, a -22.1% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 144 | 51 |
| July 2025 | 154 | 47 |
| August 2025 | 150 | 46 |
| September 2025 | 148 | 44 |
| October 2025 | 132 | 38 |
| November 2025 | 121 | 26 |
| December 2025 | 96 | 12 |
| January 2026 | 93 | 42 |
| February 2026 | 100 | 55 |
| March 2026 | 98 | 49 |
| April 2026 | 112 | 65 |
| May 2026 | 120 | 60 |
Redfin, through May 2026
How does Happy Valley compare to Oregon and the U.S.?
Happy Valley homes sell for $679,988 — 29% above the Oregon median of $525,500. Against the national median of $410,700, Happy Valley runs 66% higher. Year-over-year, Happy Valley moved +1.1% against Oregon's -0.0% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Happy Valley, OR | $679,988 | +1.1% | 17 days |
| Oregon statewide | $525,500 | -0.0% | 28 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Happy Valley
What buyers should watch
- Months of supply, currently 2.8. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 38.3%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $679 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $678,674 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Happy Valley listing goes under contract in 17 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 99.4% of asking. Price to that ratio from day one rather than chasing the market down in cuts.
- In the last published month Happy Valley added 60 new listings against 43 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved -1.6% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Happy Valley varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Happy Valley
There are currently 120 homes listed for sale in Happy Valley, Oregon. The median listing price is $688K. Featured listings range from $111,300 to $5,500,000.
New BuildPrice Drop −$10K
21
$464,960
16806 SE Ardenwald Park Ter
Happy Valley, OR 97086
3 bd3 ba1,520 sqft$306/ft²
Townhouse
View photos & details
New Build
22
$589,995
9396 SE 162nd Ave
Happy Valley, OR 97086
4 bd3 ba2,025 sqft$291/ft²
House
View photos & details
New Build
22
$594,995
9474 SE 162nd Ave
Happy Valley, OR 97086
4 bd3 ba2,025 sqft$294/ft²
House
View photos & details
New Build
27
$609,995
9463 SE Crystal Rose St
Happy Valley, OR 97086
5 bd3 ba2,045 sqft$298/ft²
House
View photos & details
New Build
21
$614,995
9456 SE 162nd Ave
Happy Valley, OR 97086
4 bd3 ba2,278 sqft$270/ft²
House
View photos & details
New Build
30
$658,210
Address unavailable
Happy Valley, OR 97086
3 bd2 ba1,594 sqft$413/ft²
House
Douglas Samson · Holt Homes Realty, LLC
View photos & details
New Build
19
$687,995
9391 SE Crystal Rose St
Happy Valley, OR 97086
5 bd3 ba2,704 sqft$254/ft²
House
View photos & details
New Listing
34
$785,000
11546 SE Lincoln Heights St
Happy Valley, OR 97086
4 bd3 ba2,500 sqft$314/ft²
House
Courtney Mcaulay · Real Broker
View photos & details
New Listing
48
$899,900
15315 SE Lewis St
Happy Valley, OR 97086
5 bd3 ba3,002 sqft$300/ft²
House5,663 sqft lot
Charles Grant · MORE Realty
View photos & details
New Listing
47
$899,900
10072 SE Wyndham Way
Happy Valley, OR 97086
4 bd3 ba3,088 sqft$291/ft²
House
Korrie Hicks · KOR Realty
View photos & details
New Listing
6
$5,500,000
9155 SE Sunnyside Rd
Happy Valley, OR 97015
Land1.96 acres
Vince Cortese · LUXE Forbes Global Properties
View photos & details
Looking to buy in Happy Valley?
Get connected with a local real estate expert — free, no obligation.
Active listings
120
Homes on market
Median list price
$688K
Avg. days on market
17
Days until sale
New this week
60
Newly listed
Price drops:38.3%of listings
Sale-to-list:99.4%
How much do homes cost in Happy Valley by property type?
How the Happy Valley, OR market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $710,000 | $273/sq ft | 35 | 19 days |
| Condo / co-op | $392,000 | $324/sq ft | 1 | 52 days |
| Townhouse | $412,480 | $275/sq ft | 8 | 14 days |
Who lives in Happy Valley?
American Community Survey estimates for Happy Valley. U.S. Census ACS, 2023
Population
25,572
Households
8,701
Median income
$120,324/yr
Median age
39.7 years
Owner-occupied
82.0%
Median home value
$671,800
Median gross rent
$2,025/mo
Mean commute
28.1 min
82.0% of occupied homes in Happy Valley are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $671,800 against Zillow's $678,674 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $2,025/mo, below Zillow's $1,958/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Happy Valley?
8 schools tracked · 5,019 students
The largest public schools serving Happy Valley, OR by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Adrienne C. Nelson High School
Grades 9-12 · 1,430 students
Happy Valley Middle School
Grades 6-8 · 1,111 students
Scouters Mountain Elementary
Grades K-5 · 551 students
Happy Valley Elementary School
Grades K-5 · 484 students
Mount Scott Elementary School
Grades K-5 · 418 students
Verne A Duncan Elementary School
Grades K-5 · 390 students
Spring Mountain Elementary School
Grades K-5 · 353 students
Clackamas Middle College
Grades 9-12 · 282 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Happy Valley, OR?
Ordered by distance from Happy Valley, not by size. Compare Happy Valley side by side with any of them.
Which ZIP codes are in Happy Valley?
These are the ZIP codes we see on active Happy Valley listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Happy Valley housing market FAQ
Is Happy Valley a buyer's or seller's market?
Happy Valley, OR is currently a seller's market. That read comes from 2.8 months of supply, homes going under contract in about 17 days, and sellers getting 99.4% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Happy Valley?
The typical home in Happy Valley, OR is worth $678,674 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $679,988, about $273 per square foot.
Is Happy Valley cheaper than the rest of Oregon?
Happy Valley's median sale price of $679,988 is 29% higher than the Oregon statewide median of $525,500, and 66% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Happy Valley?
Homes in Happy Valley, OR spent a median of 17 days on market before going under contract, versus 28 days statewide. Under three weeks means well-priced listings move before most buyers can schedule a second showing. (Redfin, through May 2026.)
What income do you need to buy a home in Happy Valley?
At the current 30-year fixed rate of 7.03%, 20% down on a $678,674 home is about $3,623 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $155,277 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $120,324.
Are home prices rising in Happy Valley?
The typical home value in Happy Valley, OR fell 1.6% over the last 12 months, from $690,040 to $678,674 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Happy Valley?
Happy Valley ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Happy Valley?
That depends on your timeline, not on a headline. What the data says today: Happy Valley, OR is a seller's market with 2.8 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 28.9x means renting tends to be the cheaper monthly option unless you stay long enough for appreciation to close the gap. Properties Incorporated publishes the data; it does not give financial advice.
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