Corvallis appreciation rates and housing market information
Corvallis housing market information
With a population of 54,674, 22,283 total housing units (homes and apartments), and a median house value of $231,692, 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 46.90% of the city's housing units. Other types of housing that are prevalent in Corvallis include large apartment complexes or high rise apartments (32.89%), duplexes, homes converted to apartments or other small apartment buildings (12.02%), and a few row houses and other attached homes (4.46%).
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 (29.48%). A lesser amount of the housing stock also hails from between 2000 and later (13.26%). There's also some housing in Corvallis built before 1939 (9.04%).
Corvallis home appreciation rates
Appreciation rates for homes in Corvallis have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.60%, which ranks in the top 40% nationwide. This equates to an annual average Corvallis house appreciation rate of 0.55%.
NeighborhoodScout's data show that during the latest twelve months, Corvallis's appreciation rate, at 1.19%, has been at or slightly above the national average. In the latest quarter, Corvallis's appreciation rate has been 1.68%, which annualizes to a rate of 6.89%.
Importantly, this makes Corvallis one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
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.