Home to Crater Lake National Park, the Columbia River Gorge, and the stunning Oregon Coast, the Beaver State has a wealth of incredible natural beauty and recreation areas that make it a standout place to live. Together with Oregon’s healthy job market (which is expected to grow by 8 percent between 2023 and 2033), its higher education institutions, and a generally relaxed, eco-conscious reputation, the state has a roster of charming towns and vibrant cities that appeal to people looking to relocate.
While the housing market in Oregon is competitive—Zillow estimates the average home value is just under $500,000—there are several places that Oregon-based real estate agents and experts recommend for prospective home buyers and renters. Below, find their picks for 10 of the best places to live in Oregon.
If you’re looking for affordability, charm, access to the Blue Mountains, and a strong sense of community, Kenzie Carlstrom of RE/MAX Key Properties in Bend recommends La Grande. She calls it a “hidden gem” in Eastern Oregon, and says its historic district is particularly popular, thanks to its “classic homes with character and larger lots.” The average home value in La Grande is $277,988, and, given the fact that it’s home to Eastern Oregon University, Carlstrom says it’s ideal for anyone looking to invest in rental properties.
“La Grande is an appealing option for those seeking a slower pace of life, stunning natural surroundings, and lower home prices than many other Oregon cities,” she says. “Plus, it’s the easiest four-hour drive to Portland; hop on I-84, and that’s it for your weekend city fix.”
It’s not hard to understand why Bend has a competitive housing market; Jen Dillard, CEO and founder of the JDRE Team affiliated with Real Broker, calls it a “paradise for outdoor enthusiasts, offering year-round recreation from skiing at Mt. Bachelor to hiking, biking, and paddling down the Deschutes River.” Carlstrom adds that Bend has recently experienced a “strong demand for single-family homes,” which she credits to “remote work trends, the local biotech industry, and the city’s vibrant craft beer scene,” as well as its “excellent schools and year-round recreation.”
Dillard says that prices have “cooled slightly from pandemic highs,” but inventory remains on the lower end. Per Zillow, the average home price in Bend is over $733,000. Still, if you can find a home within your budget, you’ll enjoy all the adventure and modern amenities, including riverfront restaurants and live music venues, that Bend has to offer.
Anyone envisioning a classic Pacific Northwest lifestyle without the high prices associated with Portland should have Salem on their shortlist. While the capital of Oregon has a somewhat competitive housing market, Zillow records the average home value as $428,744—19 percent lower than Portland’s.
Whether you’re buying or renting, Salem is the type of place where there’s always something to do. The historic Elsinore Theatre hosts live music, comedy, and theater performances, and the Hallie Ford Museum of Art, which is part of Willamette University, has a series of rotating and permanent exhibitions to explore. And if you prefer to spend your free time outside? You’ll have your pick of nearby trails for biking, running, or walking.
There’s a high chance that oenophiles looking to invest in real estate will be swayed by this next statement. “Newberg is the gateway to wine country, and I liken it to buying real estate in Sonoma or Napa 50 years ago,” says Shannon Janssen, a Coldwell Banker Global Luxury Property Specialist and real estate broker affiliated with the Portland office of Coldwell Banker Bain. “The topography is stunning with a mix of rolling hills, farmlands, and vineyards, and the town itself has a quaint little downtown with excellent restaurants and a variety of tasting rooms.”
Located just south of Portland, Newberg is a more affordable option for those who want to be within driving distance of Oregon’s most populous city. According to Janssen, buyers are usually “able to find starter homes under $500,000,” and, simultaneously, Newberg “offers the kind of large acreage view properties that luxury buyers are looking for.”
“Nestled in the Columbia River Gorge, Hood River and the Hood River Valley is a paradise for outdoor enthusiasts, windsurfers, hikers, and wine drinkers, and it, hands down, has the most picturesque landscapes,” says Carlstrom. Unfortunately, though, she says Hood River’s appeal and its “small-town, close-knit community” have created a tight real estate market, largely driven by high demand for second homes. But, she says, the town’s “farm-to-table scene, craft breweries, and easy access to Portland” still make it a top place to live in the state.
Dillard echoes her sentiment, sharing that there are also great schools and a lovely downtown lined with boutique shops, cafes, and restaurants. She says the most desired homes are typically found in downtown Hood River, the Westside of Hood River, and The Heights area—and you can expect to pay a pretty penny. Home prices in Hood River continue to increase; as of March 2025, the average home value is $694,592.
If you’re thinking about relocating to a suburb of Portland, consider Cedar Mill. “It’s closer to downtown Portland than any other suburb in Washington County, yet it feels like a different universe since the two are separated by Forest Park,” says Janssen. “It’s friendly, safe, unpretentious, and has a small-town feel with a weekly farmers market, its own library, and numerous locally owned businesses.”
Its list of green flags continues with relatively low property taxes (Oregon property taxes are capped at 1.5 percent) and highly rated schools. That said, she explains that home values have seen “consistent and steady growth for years and are about 53 percent higher than the greater Portland Metro average.” Zillow estimates the average home value in Cedar Mill is currently just over $835,000.
Living in a big city isn’t for everyone; some prefer to live where they can prioritize spending time outdoors, preferably by a river. If that rings true for you, Kristen Butz, principal broker at Sunriver Realty, suggests checking out Three Rivers, an area named after the three rivers that flow through it. “Three Rivers is located south of Bend??, southwest of Sunriver, and north of La Pine. The community comprises a diverse group of neighborhoods with varying price ranges,” she explains. Three Rivers is technically an unincorporated area, so you may find that you need to drive into Bend or a larger city for some things, but you don’t need to go far to enjoy the natural beauty this part of Oregon is known for. “From bird watching and boating to neighborhood gatherings, Three Rivers is a wonderful place to call home,” Butz adds.
There are both pros and cons to moving to Portland, but for some, the positives may outweigh the high cost of living, traffic, and crime rates. After all, it is one of the greenest cities in the U.S., it attracts a vibrant, creative community, and the job market is home to major employers including Nike, Adidas North America, and Columbia Sportswear. Additionally, the access to all kinds of outdoor recreation—rivers, beaches, and mountains—is hard to beat.
Granted, the real estate inventory tends to run low, and the average home value in the city is $531,463. While those looking to invest in real estate may have to be patient, renting is also an option. With average rent estimated to be $1,700, Portland is a solid choice for anyone who wants a mix of city amenities and a relaxed, outdoorsy lifestyle.
“The epicenter of the ‘Silicon Forest,’ Hillsboro has a lot more to offer than most realize and isn’t just about working at Intel,” says Janssen. Located on the west side of the Portland Metro area in the Tualatin Valley, Hillsboro has a strong job market; several large companies—including Applied Materials, Epson, and Thermo Fisher Scientific—join Intel in calling the city their home.
The average home value in Hillsboro comes in around $538,00, and Janssen specifically recommends looking at the Orenco Station neighborhood. She nods to its local farmers market, restaurants, shops, and access to the light rail system, and says that its “abundance of small to midsize townhomes and condos that cater to a low-maintenance, car-free, and carefree lifestyle” tend to appeal to both first-time home buyers and retirees.
What is Oregon Housing Market Forecast for 2024 and 2025?
For Sale Inventory:
According to Zillow, the average home value in Oregon stands at $487,244, reflecting a 1.5% increase over the past year. Homes in Oregon typically go to pending within approximately 35 days.
As of February 29, 2024, Oregon boasts 11,181 properties listed for sale. This figure provides a snapshot of the available housing stock in the state, influencing factors such as supply and demand dynamics and pricing trends.
New Listings:
Median Sale to List Ratio:
During the same period, 2,567 new listings entered the Oregon housing market. New listings are indicative of market activity and can influence buyer sentiment and competitive dynamics.
The median sale to list ratio, standing at 0.989 as of January 31, 2024, reflects the relationship between the final sale price of homes and their listed prices. This metric offers insights into pricing strategies and negotiation dynamics within the Oregon housing market.
Median Sale Price and Median List Price:
Percent of Sales Over and Under List Price:
As of January 31, 2024, the median sale price in Oregon stands at $461,958, while the median list price as of February 29, 2024, is $497,667. Understanding the disparity between these figures provides insights into pricing trends and market competitiveness.
Examining the percentage of sales over and under list price offers valuable insights into market demand and pricing dynamics. As of January 31, 2024, 22.3% of sales in Oregon were over list price, while 57.1% were under list price. These figures shed light on competitive pressures and buyer-seller negotiations.
How is the Housing Market Doing Currently?
In February 2024, the median home price in Oregon saw a modest increase of 1.1% compared to the previous year, reaching a median price of $488,300. According to the data from Redfin, however, this uptick in prices was accompanied by a slight decrease in the number of homes sold, down by 3.3% year over year. Interestingly, despite the decrease in sales volume, the median days on the market increased by 2 days, totaling 56 days on average.
How Competitive is the Oregon Housing Market?
The competitiveness of the Oregon housing market is evident from the data on sales prices. Notably, 23.7% of homes sold above their list price in February 2024, albeit a slight decrease from the previous year. Conversely, the percentage of homes with price drops rose to 25.4%, indicating a shift in negotiation dynamics.
Moreover, certain cities within Oregon stand out for their competitive nature. Wood Village, Clackamas, River Road, and others emerge as the top 10 most competitive cities in the state, where buyers often find themselves navigating multiple offers and bidding wars.
Are There Enough Homes for Sale to Meet Buyer Demand for Oregon?
Examining inventory levels provides insight into the balance between supply and demand in the housing market. In February 2024, Oregon saw an increase in the number of homes for sale, up by 1.5% compared to the previous year. Additionally, the number of newly listed homes rose by 7.7% year over year. Despite this increase in inventory, the average months of supply remained steady at 3 months.
What is the Future Market Outlook?
Forecasting the future of the Oregon housing market requires consideration of various factors, including economic indicators and demographic trends. While it's challenging to predict with certainty, analyzing current data can offer some insights.
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Furthermore, examining the top 10 metros in Oregon with the fastest-growing sales prices sheds light on emerging trends within the state. Cities like Roseburg, Tigard, and Lake Oswego lead the pack, experiencing notable increases in sales prices, indicating potential areas for future investment.
Top 10 Metros in Oregon with the Fastest Growing Home Price
The Oregon housing market's dynamics vary across different metros. The top 10 metros with the fastest-growing sales prices include:
Roseburg, OR35.3% Tigard, OR18.5% Lake Oswego, OR13.2% West Linn, OR11.5% Gresham, OR10.7% Redmond, OR9.7% Beaverton, OR7.0% Albany, OR6.1% Eugene, OR3.9% Hillsboro, OR
Located in the state of Oregon, Ontario is a metro area with a promising housing market. According to Zillow's forecast, home prices in Ontario are expected to grow from 0.1% in October 2023 to a significant 5.8% by September 2024. This indicates a positive trend in the real estate market, making it an attractive location for both buyers and sellers.
Klamath Falls, another Oregon metro, shows a healthy outlook in terms of housing market growth. Home prices are projected to increase from 0.4% in October 2023 to 3.6% by September 2024. This suggests a steady demand for homes in the area and potential opportunities for real estate investors.
Newport, Oregon, is a metro area where home prices are expected to see growth. Zillow's forecast indicates a rise from 0.1% in October 2023 to 3.3% by September 2024. This indicates a positive trajectory for the Newport housing market and may attract those looking for property investment opportunities.
The metro area of Bend, Oregon, presents an appealing real estate landscape. Zillow predicts that home prices in Bend will increase from 0.5% in October 2023 to 2.9% by September 2024. This suggests a stable and potentially profitable market for both buyers and sellers in Bend.
Hermiston, Oregon, is another metro area to watch. While it shows a slight decline of -0.1% in October 2023, Zillow's forecast indicates a potential rebound with a 2.5% increase in home prices by September 2024. This means that Hermiston may offer opportunities for those interested in real estate in the coming year.
Coos Bay, Oregon, is a metro area showing a stable housing market. As of September 30, 2023, home prices remained unchanged, and Zillow's forecast predicts a modest increase of 0.1% by September 2024. This indicates a balanced and potentially favorable real estate market in Coos Bay.
Astoria, another Oregon metro, experienced a slight decline in home prices with a -0.2% change as of September 30, 2023. However, the forecast suggests that Astoria will see a stabilization with a -0.2% change in home prices by September 2024. While it's not experiencing significant growth, it may provide opportunities for those seeking a more affordable market.
Roseburg, Oregon, presents a more positive picture in terms of housing market growth. Home prices increased by 0.2% as of September 30, 2023, and Zillow's forecast predicts a further rise of 0.4% by September 2024. This indicates a potentially healthy real estate market in Roseburg.
The Dalles, Oregon, is showing stability in its housing market. Home prices remained unchanged as of September 30, 2023, and the forecast predicts a growth of 0.3% by September 2024. This suggests that The Dalles is maintaining its market strength and may offer opportunities for real estate investments.
Prineville, Oregon, experienced a slight decline of -0.1% in home prices as of September 30, 2023. The forecast indicates a stabilization with a -0.2% change in home prices by September 2024. While it's not a robust growth, Prineville remains a steady market that may attract buyers seeking more affordable options.
It's important to remember that these are forecasts and actual market conditions may vary. Prospective buyers and investors should closely monitor these metro areas to make informed decisions regarding Oregon's real estate market.
1. Milwaukie, OR 16.1% 2. Sherwood, OR 10.4% 3. St. Helens, OR 10.1% 4. Beaverton, OR 8.5% 5. Forest Grove, OR 8.4% 6. Albany, OR 8.3% 7. Coos Bay, OR 8.2% 8. Klamath Falls, OR 7.7% 9. Oregon City, OR 6.8% 10. Bethany, OR 6.7%
As of July 31, 2023, the average home value in Oregon is $496,690, which reflects a 3.3% decrease over the past year. Homes in Oregon are seeing quick activity, going pending in approximately 11 days.
Here are key home value indicators:
It's difficult to predict with certainty whether the Oregon housing market will crash or not in response to rising interest rates. While higher interest rates can have a cooling effect on the housing market, it's important to consider other factors that could impact the market as well.
One such factor is the strength of Oregon's economy. According to the latest data from the Bureau of Labor Statistics, Oregon's unemployment rate was 3.4% in July 2023, which was lower than the national average. Additionally, the state has seen strong job growth in recent years, particularly in industries like technology and healthcare.
Another factor to consider is the supply and demand dynamics of the housing market. While interest rates are rising, there is still a significant shortage of housing inventory in many parts of Oregon, particularly in urban areas like Portland. This can help support home prices even as interest rates increase.
It's also worth noting that while interest rates have risen in recent months, they are still historically low compared to previous decades. This means that while some buyers may be priced out of the market due to higher rates, there will still be many who can afford to buy homes.
Population growth can also have a significant impact on the housing market. Oregon has been experiencing steady population growth in recent years, with many people moving to the state for its natural beauty, job opportunities, and quality of life. According to the United States Census Bureau, Oregon's population grew by 9.3% between 2010 and 2020, making it the ninth-fastest-growing state in the country.
This population growth has increased the demand for housing, which has helped to drive up home prices in many areas of the state. However, it has also led to a shortage of affordable housing, particularly in urban areas like Portland. As a result, policymakers are exploring ways to address this issue, such as increasing funding for affordable housing programs and encouraging the development of more housing units.
Overall, population growth is likely to continue to have an impact on the Oregon housing market in the coming years. While it will help to sustain demand for housing, it may also exacerbate affordability challenges and put pressure on local governments to address these issues. As such, it is important for investors and homebuyers alike to carefully monitor population trends and their impact on the housing market.
Ultimately, whether the Oregon housing market crashes or not will depend on a complex interplay of factors, including the strength of the economy, supply and demand dynamics, and interest rates. While rising interest rates can have an impact on the market, it's important to consider these other factors as well when making predictions about the future of the housing market
Looking at Metropolitan Statistical Areas (MSAs) in Oregon, we can identify the top 10 areas projected to experience home price growth by July 2024:
The Oregon housing market demonstrates varying dynamics across its MSAs, with some areas projected to experience notable growth while others maintain stability. Despite the decrease in average home value over the past year, the projected growth in select areas points toward a potential rebound. These insights can guide potential buyers and sellers in making informed decisions based on their preferences and goals, and keeping an eye on these projected trends can provide valuable insights into the trajectory of Oregon's real estate market in the coming months.