Oregon Housing Market Trends

Real-time market data powered by Zillow Research. Last updated: 2026-04-02

Portland's housing market has moderated from its rapid growth period, and the city has faced challenges from concerns about homelessness, public safety, and corporate departures that have dampened some buyer enthusiasm. However, Portland's fundamental appeal — food culture, outdoor access, and creative economy — continues to attract buyers, and prices remain well below Seattle and San Francisco. Bend has been one of Oregon's strongest markets, driven by remote workers and outdoor recreation enthusiasts. Salem and Eugene offer more affordable alternatives with university and government employment stability.

By BuyAHomeIn Editorial | Updated 2026-03-02 | Sources: Zillow Research, U.S. Census

Is Now a Good Time to Buy in Oregon?

The Oregon housing market is showing balanced conditions.

home values have been essentially flat (-0.9%) over the past year. there are currently 391 homes on the market.

Median Home Value

$492,347

Zillow Home Value Index

Year-over-Year

-0.9%

Home value change

5-Year Change

+19.4%

Since 2021

Median Rent

$1,670/mo

Zillow Observed Rent Index

Active Listings

391

Homes for sale

Home Value Trends

5-year Zillow Home Value Index (ZHVI) for Oregon vs. national average. ZHVI reflects the typical home value in the 35th-65th percentile range.

Rent Trends

Average rent in Oregon: $1,670/mo (+4.5% YoY)

Rent vs. Buy Analysis

With a median home value of $492,347 and average rent of $1,670/mo, the price-to-rent ratio in Oregon is 24.6. A ratio above 21 suggests renting may be more cost-effective.

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