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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 2016, 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

2010

2011

2012

2013

2014

2015

2016

Bend

969

1012

1231

1110

1,221

1,354

1,438

Redmond/Terrebonne

863

911

975

952

1,014

1,094

1,246

Madras/Culver

849

817

800

765

859

646

951

Prineville

809

847

835

755

895

835

880

La Pine

905

861

889

838

880

900

1,000

Sunriver

991

896

1086

1066

1,180

1,241

1,221

Sisters

913

850

922

875

898

NA

2,850

Source: Central Oregon Rental Owners Association (COROA); May 2018

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 2017.

Redmond's current average home price is $305,456 and median price of $278,900.

Existing Single Family Home Prices (residential, less than one acre, $)
Median Sales Price
  2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Crook County 177,500 112,000 91,100 77,750 87,000 127,113 132,450 157,750 188,000 205,000 250,450
Bend 289,450 212,000 191,750 190,000 220,395 269,000 289,950 327,487 360,000 389,950 407,000
Redmond 216,000 147,500 123,450 116,000 132,000 175,000 196,275 223,266 255,000 280,000 278,900
La Pine 160,000 109,000 99,900 88,500 94,900 133,000 149,900 185,000 197,250 226,000 259,000
Sisters 367,450 286,250 223,750 198,500 245,000 300,000 269,078 330,000 372,000 379 376,030
Sunriver 555,738 402,000 417,500 375,000 347,500 364,000 367,500 375,000 390,500 485,000 402,500
Jefferson County 139,950 89,900 69,950 68,000 72,500 85,000 111,000 121,000 140,000 164,000 195,000
U.S. 196,600 172,100 173,200 166,200 180,200 197,100 208,300 222,400 244,800 245,600 309,700
Average Sales Price
Crook County 206,874 145,040 120,537 96,334 113,980 148,108 162,753 198,455 217,064 254,932  
Bend 353,142 266,319 245,069 238,186 263,556 317,735 344,694 385,657 421,405 453,304  
Redmond 245,204 170,739 142,402 137,214 148,086 197,015 217,263 244,904 275,938 305,456  
La Pine 180,153 126,606 110,632 108,438 100,940 146,802 159,070 187,896 214,578 249,788  
Sisters 437,636 372,483 295,488 248,953 292,960 317,442 316,253 376,894 420,843 397,854  
Sunriver 628,979 458,614 455,550 398,948 381,530 408,326 409,227 421,927 447,299 516,865  
Jefferson County 144,146 145,040 78,376 74,724 83,152 96,185 127,344 128,783 144,037 167,495  
U.S. 242,700 216,900 220,000 214,300 225,500 245,500 225,300 226,400 276,990 295,800  
Sources: Central Oregon Association of Realtors (COAR), National Association of Realtors, US Census Bureau (May 2018)