Corvallis, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Corvallis Neighborhoods Since 2000




Corvallis, OR Real Estate Data


Corvallis Housing Market Information

With 55,780 people, 21,588 houses or apartments, and a median cost of homes of $314,642, real estate costs in Corvallis are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Oregon communities.

Single-family detached homes are the single most common housing type in Corvallis, accounting for 47.26% of the city's housing units. Other types of housing that are prevalent in Corvallis include large apartment complexes or high rise apartments ( 32.59%), duplexes, homes converted to apartments or other small apartment buildings ( 11.47%), and a few row houses and other attached homes ( 5.00%).

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 ( 28.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.43%). There's also some housing in Corvallis built before 1939 ( 6.61%).

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 18.64% over the last ten years, which is an average annual home appreciation rate of 1.72%, putting Corvallis in the top 20% 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 7.46%, which is higher than appreciation rates in 83.15% 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 2.37%, which equates to an annual appreciation rate of 9.83%.

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 70% 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 2000, to assist you in making the best Corvallis real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$314,642

Corvallis, OR HOME PRICES

Value Range
> $1,187,000 1.7
$890,001 - $1,187,000 0.5
$593,001 - $890,000 5.6
$475,001 - $593,000 8.3
$356,001 - $475,000 21.0
$237,001 - $356,000 38.0
$119,001 - $237,000 15.3
$59,001 - $119,000 2.4
$0 - $59,000 7.1

High for OR
Very High for Nation

Value Relative to Nation Value Relative to State
14.7427633891949 28.0193236714976

Number Of Homes And Apartments:
21,588

Rent & Ownership

 

Average Market Rent:
$975 / per month

Homeownership Rate

Homeownership
Owners 39.61
Renters 60.39
Vacant 9.43

Housing Market Details

 

Age of Homes

AGE OF Corvallis HOMES
2000 or Newer 14.4
1970 - 1999 50.3
1940 - 1969 28.6
1939 or Older 6.6

Types of Homes

TYPE OF Corvallis HOMES
Single-Family 47.3
Townhomes 5.0
Small Apt. Buildings 11.5
Apt. Complexes 32.6
Mobile Homes 3.7
Other 0.0

Home Size

SIZE OF Corvallis HOMES
No Bedroom 4.64
1 Bedroom 13.35
2 Bedrooms 33.24
3 Bedrooms 32.92
4 Bedrooms 11.55
5 or more bedrooms 4.30

Corvallis Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
87.75% 3.72% 9 10
* 10 is highest