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Average Monthly Rent

The Central Oregon rental market began tightening in 2010 and faces heightened demand in the midst of constrained supply.  According to the Central Oregon Rental Owners Association, current vacancy rates have shrunk to 1.04% as of March 2015, down from 12.4% in 2009.  

As in-migration to Central Oregon continues, demand for rental housing outstrips supply.  This exerts pressure on prices and generates a growing interest in multi-family residential construction, particularly in Redmond.  In the last year, two and three bedroom rental houses increased more on a percentage basis than apartments and duplexes; until supply increases, expect the rental market in the next few years to be persistently tight.

Average Monthly Rent (3 Bedroom House, listed in $)

Area

2009

2010

2011

2012

2013

2014

2015

Bend

1003

969

1012

1231

1110

1,221

NA

Redmond/Terrebonne

884

863

911

975

952

1,014

NA

Madras/Culver

834

849

817

800

765

859

NA

Prineville

790

809

847

835

755

895

NA

La Pine

890

905

861

889

838

880

NA

Sunriver

1000

991

896

1086

1066

1,180

NA

Sisters

n/a

913

850

922

875

898

NA

Source: Central Oregon Rental Owners Association (COROA); March 2015

Home Prices

Redmond’s residential housing sales, as with much of the country, peaked to all-time highs in 2006, declined in 2009, and now are continuously rebounding in 2016.

In addition to being focused on business friendliness, local leaders work to keep housing affordable as demonstrated by Redmond's current average home price of $244,904 and median price of $223,266.

Existing Single Family Home Prices (residential, less than one acre, $)

Median Sales Price

 

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

Crook County

195,500

199,450

177,500

112,000

91,100

77,750

87,000

127,113

132,450

157,750

Bend

351,978

345,000

289,450

212,000

191,750

190,000

220,395

269,000

289,950

327,487

Redmond

262,749

250,000

216,000

147,500

123,450

116,000

132,000

175,000

196,275

223,266

La Pine

183,500

215,000

160,000

109,000

99,900

88,500

94,900

133,000

149,900

185,000

Sisters

460,000

415,000

367,450

286,250

223,750

198,500

245,000

300,000

269,078

330,000

Sunriver

575,000

548,547

555,738

402,000

417,500

375,000

347,500

364,000

367,500

375,000

Jefferson County

165,080

177,950

139,950

89,900

69,950

68,000

72,500

85,000

111,000

121,000

U.S.

221,900

217,900

196,600

172,100

173,200

166,200

180,200

197,100

208,300

222,400

Average Sales Price

Crook County

212,173

224,151

206,874

145,040

120,537

96,334

113,980

148,108

162,753

198,455

Bend

406,122

426,044

353,142

266,319

245,069

238,186

263,556

317,735

344,694

385,657

Redmond

292,268

286,543

245,204

170,739

142,402

137,214

148,086

197,015

217,263

244,904

La Pine

202,331

237,665

180,153

126,606

110,632

108,438

100,940

146,802

159,070

187,896

Sisters

514,259

526,626

437,636

372,483

295,488

248,953

292,960

317,442

316,253

376,894

Sunriver

627,345

637,734

628,979

458,614

455,550

398,948

381,530

408,326

409,227

421,927

Jefferson County

170,228

187,367

144,146

145,040

78,376

74,724

83,152

96,185

127,344

128,783

U.S.

268,200

266,000

242,700

216,900

220,000

214,300

225,500

245,500

225,300

226,400

Sources: Central Oregon Association of Realtors (COAR), National Association of Realtors