Corvallis appreciation rates and housing market information
Corvallis housing market information
With a population of 55,062, 22,283 total housing units (homes and apartments), and a median house value of $247,727, Corvallis real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Corvallis, accounting for 46.63% of the city's housing units. Other types of housing that are prevalent in Corvallis include large apartment complexes or high rise apartments (32.66%), duplexes, homes converted to apartments or other small apartment buildings (12.31%), and a few row houses and other attached homes (4.66%).
People in Corvallis primarily live in small (one, two or no bedroom) single-family detached homes. Corvallis has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Corvallis built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Corvallis built between 1940-1969 (28.42%). A lesser amount of the housing stock also hails from between 2000 and later (13.75%). There's also some housing in Corvallis built before 1939 (8.22%).
Corvallis home appreciation rates
In the last 10 years, Corvallis has experienced some of the highest home appreciation rates of any community in the nation. Corvallis real estate appreciated 50.72% over the last ten years, which is an average annual home appreciation rate of 4.19%, putting Corvallis in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Corvallis definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Corvallis that despite a nationwide downturn in the housing market, Corvallis real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Corvallis appreciation rates continue to be some of the highest in America, at 6.27%, which is higher than appreciation rates in 79.61% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Corvallis. Corvallis appreciation rates in the latest quarter were at -2.35%, which equates to an annual appreciation rate of -9.07%.
Notably, Corvallis's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Oregon, our data show that Corvallis's latest annual appreciation rate is lower than 60% of the other cities and towns in Oregon.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Corvallis differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Corvallis - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Corvallis real estate investment or home purchase decisions.