Top 5 Best Real Estate Investment Markets in Oregon

Ben Mizes

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Ben Mizes

May 11th, 2022
Updated May 11th, 2022

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The Oregon real estate market has been hot since the end of the Great Recession, with prices around the state skyrocketing. But there are still some great Oregon markets for investors to consider, from big cities to small rural towns.

Top 5 Best Real Estate Investment Markets in Oregon

There are a lot of things to love about Oregon. From its natural wonder to its urban playgrounds, Oregon has something for everyone.

The Oregon market has grown rapidly over the last several years; from 2015 to 2019, the median home value skyrocketed from $239,000 to $345,000. Oregon home values went up 5.6% in 2018 and are expected to rise another 3.9% in 2019.

Zillow currently calls the Oregon market “neutral,” but there are definitely parts of the state where real estate investors can expect to get a solid return on their investment. From small towns with exceptionally well-priced real estate to some of the fastest-growing cities in the U.S., Oregon has a lot to offer real estate investors.

If you’ve been thinking about investing in Oregon, we've listed five markets that are a good starting point, and offer tips on how to find profitable deals.

1. Salem Metro Area

Salem is the capital of Oregon and has a reliable real estate market. Demand exceeds supply in the city, yet Salem is still relatively affordable, as far as Oregon markets go.

Rental properties, and single-family homes, in particular, are a great investment in Salem. The Salem area has seen steady growth in the first part of 2019 and that is expected to continue throughout the year. Salem has a steady economy and demand for homes exceeds supply, driving prices up. And new residents keep coming.

One of the best parts about investing in Salem real estate is that it won’t come at the high premium of other Oregon cities. The median home value is $282,900 in Salem versus $312,800 in Eugene or $425,500 in Portland.

2. Douglas County

Douglas County real estate is swiftly going up in price, but still very affordable for Oregon, with a median home value of $202,800. Prices in Douglas County went up 11.4% over the last year and are expected to increase another 5.6% over the next year.

Douglas County includes Roseburg, Reedsport, Sutherlin,the entire Umpqua River watershed, and extends from the Pacific Ocean to the Cascade Range. The average monthly mortgage payment is significantly lower than the average monthly rent and the average buyer is able to break even on their investment in just 3.2 years. Demand outpaces supply, making Douglas County an attractive place for rental properties, particularly single-family homes.

3. Clatsop County

Clatsop County is in the northwest corner of Oregon and home to a beautiful coastline, Cannon Beach, Gearhart, Seaside, and the Astoria metro area. The median home value in Clatsop Countyis $310,000, and the median home value in Astoria is $269,800, well below the statewide median of $346,000.

The median Clatsop County home value went up 10.9% last year and is expected to increase more modestly, at 4.6%, throughout 2019. Like Douglas County, Clatsop County sees average mortgage payments significantly lower than average monthly rent, making it a good place to look for traditional rental properties and single-family homes.

4. Curry County

Including Port Orford, Gold Beach, and Brookings, Curry County is a charming area in the southwest corner of Oregon, that includes Oregon Islands National Wildlife Refuge, part of Siskiyou National Forest, Gold Beach, and the Brookings metro area.

Curry County is both affordable and has a steadily increasing property value. The median home value in Curry County is $312,700, significantly lower than the statewide median. Curry County is home to natural beauty, a solid economy, and solid real estate investment opportunities.

5. Portland

Home to nearly 650,000 residents, Portland is the largest city in Oregon, the second largest city in the Pacific Northwest, and the 26th largest city in the country.

In most of Oregon, investors should look towards single-family homes, but in Portland, the market is right for people looking to buy multiple and larger apartment buildings.

Portland real estate exploded between 2012 and 2018, going from a $228,000 median home value in 2012 to $424,000 by the end of 2018. However, the Portland market has finally started to cool, making 2019 an exciting year for investors.

For the last few years, apartment rental property in Portland had among the highest purchase prices in the nation, but with the market finally cooling and more properties becoming available, now could be a good time to make the decision to invest in Portland.

How to find Oregon investment properties

The best deals in Oregon are usually found on homes with motivated sellers, and homes that need extensive repairs or cosmetic updates.

Types of homes that make for good flips often include foreclosures, pre-forecloses, short-sales, and abandoned or neglected properties. Here's how to find them.

1. Use real estate investment software

One of the biggest challenges of flipping homes or finding rental properties in Oregon is finding great deals. But the DealMachine app is one tool that can really help you.

DealMachine's real estate software helps Oregon investors find and research distressed homes (think: pre-foreclosures, foreclosures, short sales, etc), and get in touch with owners fast via batch skip tracing and direct mail campaigns.

DealMachine's driving for dollars app is fast and easy to use. When you're driving around town and spot a home that could be a great deal, you can send the owner direct mail through the app for huge time savings (no post office visits required).

Download the DealMachine app to find undervalued Oregon properties as you drive. DealMachine offers a 7-day free trial and $15 in free credits that can be used towards marketing (like sending out direct mail to homeowners).

2. Partner with an investor-friendly realtor

Partnering with an investor-friendly realtor is the best way to ensure a favorable, easy home purchase.

Agents have expertise in Oregon's variety of markets, understand real estate laws and practices specific to the state, and can provide access to lesser-known neighborhoods and properties that just may be your dream investment.

Clever's real estate agents can guide you through your local real estate market and make your house hunting journey a breeze - and eligible buyers can get back 0.5% of their home's purchase price after closing, potentially saving you thousands on your home purchase.

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