Forest Grove, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Forest Grove Neighborhoods Since 2000




Forest Grove, 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

Forest Grove Housing Market Information

With 23,897 people, 7,869 houses or apartments, and a median cost of homes of $296,939, Forest Grove real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Forest Grove, accounting for 58.87% of the city's housing units. Other types of housing that are prevalent in Forest Grove include large apartment complexes or high rise apartments ( 19.04%), duplexes, homes converted to apartments or other small apartment buildings ( 11.49%), and a few mobile homes or trailers ( 6.07%).

The most prevalent building size and type in Forest Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.92% owning and 45.08% renting.

There is a lot of housing in Forest Grove 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 Forest Grove built between 1940-1969 ( 23.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.47%). There's also some housing in Forest Grove built before 1939 ( 7.69%).

Forest Grove Home Appreciation Rates

Appreciation rates for homes in Forest Grove have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 5.04%, which ranks in the top 40% nationwide. This equates to an annual average Forest Grove house appreciation rate of 0.49%.

Appreciation rates are so strong in Forest Grove that despite a nationwide downturn in the housing market, Forest Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Forest Grove appreciation rates continue to be some of the highest in America, at 12.95%, which is higher than appreciation rates in 98.41% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Forest Grove. Forest Grove appreciation rates in the latest quarter were at 2.08%, which equates to an annual appreciation rate of 8.56%.

Importantly, this makes Forest Grove 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 Forest Grove's latest annual appreciation rate is higher than 90% 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 Forest Grove differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Forest Grove - 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 Forest Grove real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$296,939

Forest Grove, OR HOME PRICES

Value Range
> $1,352,000 0.7
$1,014,001 - $1,352,000 0.4
$676,001 - $1,014,000 2.7
$541,001 - $676,000 3.4
$405,001 - $541,000 10.9
$270,001 - $405,000 38.7
$135,001 - $270,000 22.0
$68,001 - $135,000 2.4
$0 - $68,000 18.8

High for OR
Very High for Nation

Value Relative to Nation Value Relative to State
16.5416617836634 37.1980676328502

Number Of Homes And Apartments:
7,869

Forest Grove 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
71.08% 3.16% 6 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,357 / per month

Homeownership Rate

Homeownership
Owners 54.92
Renters 45.08
Vacant 6.03

Housing Market Details

 

Age of Homes

AGE OF Forest Grove HOMES
2000 or Newer 16.5
1970 - 1999 51.9
1940 - 1969 24.0
1939 or Older 7.7

Types of Homes

TYPE OF Forest Grove HOMES
Single-Family 58.9
Townhomes 4.5
Small Apt. Buildings 11.5
Apt. Complexes 19.0
Mobile Homes 6.1
Other 0.0

Home Size

SIZE OF Forest Grove HOMES
No Bedroom 2.04
1 Bedroom 7.71
2 Bedrooms 29.01
3 Bedrooms 42.02
4 Bedrooms 14.75
5 or more bedrooms 4.47