Housing | Redmond Economic Development Inc.
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Average Monthly Rent

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

1,012

1,231

1,110

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

1,086

1,066

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 2019.

according to the most recent Beacon Report, Redmond's current median price mid year of 2019 is $330,000.

Existing Single Family Home Prices (residential, less than one acre, $)
Median Sales Price
  2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Crook County 91,100 77,750 87,000 127,113 132,450 157,750 188,000 205,000 250,450 250,000 257,000
Bend 191,750 190,000 220,395 269,000 289,950 327,487 360,000 389,950 407,000 432,000 440,000
Redmond 123,450 116,000 132,000 175,000 196,275 223,266 255,000 280,000 278,900 300,000 325,000
La Pine 99,900 88,500 94,900 133,000 149,900 185,000 197,250 226,000 259,000 270,000 234,000
Sisters 223,750 198,500 245,000 300,000 269,078 330,000 372,000 379,000 376,030 450,000 430,000
Sunriver 417,500 375,000 347,500 364,000 367,500 375,000 390,500 485,000 402,500 475,000 500,000
Jefferson County 69,950 68,000 72,500 85,000 111,000 121,000 140,000 164,000 195,000 224,000 228,000
U.S. 173,200 166,200 180,200 197,100 208,300 222,400 244,800 245,600 309,700 329,700 320,000
Sources: Beacon Report (Jan. 2020), National Association of Realtors, US Census Bureau (Dec 2019)