Boardman is home to the best residential real estate investment market in Oregon.
The 97818 zip code in Boardman presents the greatest opportunity for the best real estate investments among the 632 individual real estate markets in Oregon we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
5 best places to invest in Oregon
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Boardman | 100 | 6.1 | 65.86% |
| 2 | Reedsport | 99.4 | 5.8 | 70.80% |
| 3 | Baker City | 98 | 5.0 | 73.35% |
| 4 | Klamath Falls | 97.9 | 4.8 | 57.41% |
| 5 | Sheridan | 95.1 | 5.3 | 50.53% |
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1. Boardman
We've identified the 97818 zip code in Boardman as Oregon's best real estate investment market. Here's why.
🔎 Key data about Boardman
| Data point | Value | Rank in state (of 632 markets) |
|---|---|---|
| Zip code | 97818 | N/A |
| InvestScore | 100 | Highest |
| Typical property value | $336,442[1] | 19th lowest |
| Five-year appreciation | 65.86%[2] | 9th highest |
| Household income | $54,976[3] | 141st highest |
| Affordability ratio | 6.1 | 75th most affordable |
| Five-year population growth | 21.9%[4] | 9th highest |
| Unemployment rate | 1.4%[5] | lowest |
| Property taxes | $1,603[6] | 3rd lowest |
| Educational attainment | 7.9%[7] | 158th highest |
Boardman (zip code 97818) is the best residential real estate investment market in Oregon. It has the 9th highest property value appreciation among markets we evaluated, with a 65.86% appreciation of the typical property over the last five years.
Boardman is the 75th most affordable market among the 632 Oregon markets we evaluated, with an affordability ratio of 6.1.
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2. Reedsport
The 97467 zip code in Reedsport is the runner-up spot for the best real estate investments in Oregon.
🔎 Key data about Reedsport
| Data point | Value | Rank in state (of 632 markets) |
|---|---|---|
| Zip code | 97467 | N/A |
| InvestScore | 99.4 | 2nd highest |
| Typical property value | $312,015[8] | 15th lowest |
| Five-year appreciation | 70.80%[9] | 4th highest |
| Household income | $54,219[10] | 145th highest |
| Affordability ratio | 5.8 | 54th most affordable |
| Five-year population growth | 8.6%[11] | 48th highest |
| Unemployment rate | 2.7%[12] | 6th lowest |
| Property taxes | $1,841[13] | 13th lowest |
| Educational attainment | 12.8%[14] | 154th highest |
The 97467 zip code in Reedsport features a typical property value of $312,015, the 15th lowest in the state.
Property values have appreciated 70.80% over the past five years, the 4th highest increase among evaluated markets in the state. Reedsport homes have an affordability ratio of 5.8, the 54th most affordable in the state.
3. Baker City
The 97814 zip code in Baker City comes in at No. 3 in our ranking of the best residential real estate investment markets in Oregon.
🔎 Key data about Baker City
| Data point | Value | Rank in state (of 632 markets) |
|---|---|---|
| Zip code | 97814 | N/A |
| InvestScore | 98 | 3rd highest |
| Typical property value | $276,390[15] | 4th lowest |
| Five-year appreciation | 73.35%[16] | 3rd highest |
| Household income | $55,361[17] | 138th highest |
| Affordability ratio | 5.0 | 11th most affordable |
| Five-year population growth | 2.5%[18] | 100th highest |
| Unemployment rate | 5.6%[19] | 85th lowest |
| Property taxes | $2,223[20] | 26th lowest |
| Educational attainment | 25.5%[21] | 90th highest |
With a typical property value of $276,390, Baker City's 97814 zip code features the 4th lowest property values in the state.
Baker City homes have an affordability ratio of 5.0, the 11th most affordable among the markets we evaluated.
4. Klamath Falls
The 97603 zip code in Klamath Falls ranks No. 4 among Oregon's residential real estate investment markets.
🔎 Key data about Klamath Falls
| Data point | Value | Rank in state (of 632 markets) |
|---|---|---|
| Zip code | 97603 | N/A |
| InvestScore | 97.9 | 4th highest |
| Typical property value | $301,489[22] | 11th lowest |
| Five-year appreciation | 57.41%[23] | 24th highest |
| Household income | $62,328[24] | 24th highest |
| Affordability ratio | 4.8 | 6th most affordable |
| Five-year population growth | 11.3%[25] | 35th highest |
| Unemployment rate | 7.5%[26] | 136th lowest |
| Property taxes | $1,716[27] | 9th lowest |
| Educational attainment | 22.7%[28] | 102nd highest |
Property values in Klamath Falls's 97603 zip code have seen the 24th highest increase among evaluated markets in the state, with an appreciation of 57.41% over the past five years.
Klamath Falls's affordability ratio of 4.8 makes it the 6th most affordable among the 632 markets we evaluated.
5. Sheridan
The 97378 zip code in Sheridan rounds out our top five residential real estate investment markets in Oregon.
🔎 Key data about Sheridan
| Data point | Value | Rank in state (of 632 markets) |
|---|---|---|
| Zip code | 97378 | N/A |
| InvestScore | 95.1 | 5th highest |
| Typical property value | $384,587[29] | 31st lowest |
| Five-year appreciation | 50.53%[30] | 47th highest |
| Household income | $72,121[31] | 47th highest |
| Affordability ratio | 5.3 | 24th most affordable |
| Five-year population growth | 25.5%[32] | 4th highest |
| Unemployment rate | 5.5%[33] | 80th lowest |
| Property taxes | $2,220[34] | 24th lowest |
| Educational attainment | 14.3%[35] | 147th highest |
Property values in Sheridan's 97378 zip code rose 50.53% over the last five years, ranking the city 47th highest among evaluated markets in Oregon.
Sheridan homes have an affordability ratio of 5.3, the 24th most affordable among the markets we evaluated.
Investing in residential real estate can be one of the best passive real estate investments in Oregon.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in Oregon
To determine the best real estate investments in Oregon we evaluated 632 markets on eight metrics, and then assigned an InvestScore based on their weighted and combined rankings. Each market corresponds to a specific zip code in Oregon.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase. We assign a weight of 20% to typical property values.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results. We assign a weight of 20% to property value appreciation.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing. We assign a weight of 10% to median household income.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand. We assign a weight of 15% to the affordability ratio.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip. We assign a weight of 10% to population growth.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes. We assign a weight of 15% to unemployment rate.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates. We assign a weight of 10% to property tax.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes. We assign a weight of 15% to educational attainment.
🚨 Disclaimer: The information contained in this article isn't intended as, and shall not be understood or constituted as, financial advice. The information in this article isn't a substitute for financial advice from an investment professional or real estate agent who is aware of the facts and circumstances of your financial situation or the specifics of any individual property.
