Cornelius, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Cornelius, OR Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Cornelius Housing Market Information

With 12,317 people, 3,327 houses or apartments, and a median cost of homes of $275,634, Cornelius real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Cornelius, accounting for 65.14% of the city's housing units. Other types of housing that are prevalent in Cornelius include mobile homes or trailers ( 14.81%), duplexes, homes converted to apartments or other small apartment buildings ( 10.89%), and a few large apartment complexes or high rise apartments ( 5.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Cornelius. Owner-occupied housing accounts for 74.70% of Cornelius's homes, and 74.75% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Cornelius 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 Cornelius built between 1940-1969 ( 13.70%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.34%). There's also some housing in Cornelius built before 1939 ( 5.17%).

Cornelius Home Appreciation Rates

Appreciation rates for homes in Cornelius have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.97%, which ranks in the top 30% nationwide. This equates to an annual average Cornelius house appreciation rate of 1.14%.

Appreciation rates are so strong in Cornelius that despite a nationwide downturn in the housing market, Cornelius real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Cornelius appreciation rates continue to be some of the highest in America, at 15.26%, which is higher than appreciation rates in 99.42% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Cornelius. Cornelius appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Cornelius 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 Cornelius's latest annual appreciation rate is higher than 90% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$275,634

Cornelius, OR HOME PRICES

Value Range
> $1,457,000 0.4
$1,093,001 - $1,457,000 0.3
$729,001 - $1,093,000 1.3
$583,001 - $729,000 0.6
$437,001 - $583,000 6.1
$291,001 - $437,000 32.1
$146,001 - $291,000 40.0
$73,001 - $146,000 4.8
$0 - $73,000 14.4

Average for OR
Very High for Nation

Value Relative to Nation Value Relative to State
18.9148013594281 44.9275362318841

Number Of Homes And Apartments:
3,327

Cornelius Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
82.98% 3.56% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,611 / per month

Homeownership Rate

Homeownership
Owners 74.70
Renters 25.30
Vacant 5.40

Housing Market Details

 

Age of Homes

AGE OF Cornelius HOMES
2000 or Newer 13.3
1970 - 1999 67.8
1940 - 1969 13.7
1939 or Older 5.2

Types of Homes

TYPE OF Cornelius HOMES
Single-Family 65.1
Townhomes 4.1
Small Apt. Buildings 10.9
Apt. Complexes 5.1
Mobile Homes 14.8
Other 0.0

Home Size

SIZE OF Cornelius HOMES
No Bedroom 0.31
1 Bedroom 3.58
2 Bedrooms 19.90
3 Bedrooms 59.91
4 Bedrooms 14.84
5 or more bedrooms 1.45

Popular Neighborhoods in Cornelius

Zip Codes in Cornelius, OR