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 $) |
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|
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 |
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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 2022 is $505,000.
| Existing Single Family Home Prices (residential, less than one acre, $) | |||||||||||
| Median Sales Price | |||||||||||
| 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
| Crook County | 87,000 | 127,113 | 132,450 | 157,750 | 188,000 | 205,000 | 250,450 | 250,000 | 257,000 | 372,000 | 390,000 |
| Bend | 220,395 | 269,000 | 289,950 | 327,487 | 360,000 | 389,950 | 407,000 | 432,000 | 440,000 | 580,000 | 683,000 |
| Redmond | 132,000 | 175,000 | 196,275 | 223,266 | 255,000 | 280,000 | 278,900 | 300,000 | 325,000 | 377,000 | 500,000 |
| La Pine | 94,900 | 133,000 | 149,900 | 185,000 | 197,250 | 226,000 | 259,000 | 270,000 | 234,000 | 315,000 | 452,000 |
| Sisters | 245,000 | 300,000 | 269,078 | 330,000 | 372,000 | 379,000 | 376,030 | 450,000 | 430,000 | 479,000 | 667,000 |
| Sunriver | 347,500 | 364,000 | 367,500 | 375,000 | 390,500 | 485,000 | 402,500 | 475,000 | 500,000 | 784,000 | 885,000 |
| Jefferson County | 72,500 | 85,000 | 111,000 | 121,000 | 140,000 | 164,000 | 195,000 | 224,000 | 228,000 | 277,000 | 356,000 |
| U.S. | 180,200 | 197,100 | 208,300 | 222,400 | 244,800 | 245,600 | 309,700 | 329,700 | 320,000 | 357,100 | 392,600 |
| Sources: Beacon Report (Jan. 2023), National Association of Realtors (Jan. 2023) | |||||||||||
