Hermiston, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hermiston Neighborhoods Since 2000




Hermiston, 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

Hermiston Housing Market Information

With a population of 17,201, 6,222 total housing units (homes and apartments), and a median house value of $164,920, Hermiston real estate values are some of the lowest in Oregon, although compared to real estate around the nation, Hermiston homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Hermiston, accounting for 60.39% of the city's housing units. Other types of housing that are prevalent in Hermiston include large apartment complexes or high rise apartments ( 19.20%), duplexes, homes converted to apartments or other small apartment buildings ( 9.14%), and a few mobile homes or trailers ( 9.11%).

The most prevalent building size and type in Hermiston are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.44% owning and 44.56% renting.

There is a lot of housing in Hermiston 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 Hermiston built between 1940-1969 ( 22.75%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.14%). There's also some housing in Hermiston built before 1939 ( 4.08%).

Hermiston Home Appreciation Rates

In the last 10 years, Hermiston has experienced some of the highest home appreciation rates of any community in the nation. Hermiston real estate appreciated 21.76% over the last ten years, which is an average annual home appreciation rate of 1.99%, putting Hermiston in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hermiston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Hermiston's appreciation rate, at 4.52%, has been at or slightly above the national average. In the latest quarter, Hermiston's appreciation rate has been 0.46%, which annualizes to a rate of 1.84%.

Relative to Oregon, our data show that Hermiston's latest annual appreciation rate is lower than 90% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$164,920

Hermiston, OR HOME PRICES

Value Range
> $1,160,000 0.0
$870,001 - $1,160,000 0.0
$580,001 - $870,000 1.4
$464,001 - $580,000 2.1
$348,001 - $464,000 5.2
$232,001 - $348,000 15.2
$116,001 - $232,000 52.8
$58,001 - $116,000 14.1
$0 - $58,000 9.3

Very Low for OR
Average for Nation

Value Relative to Nation Value Relative to State
43.6657681940701 90.8212560386473

Number Of Homes And Apartments:
6,222

Hermiston 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
49.80% 2.37% 1 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$939 / per month

Homeownership Rate

Homeownership
Owners 55.44
Renters 44.56
Vacant 3.91

Housing Market Details

 

Age of Homes

AGE OF Hermiston HOMES
2000 or Newer 20.1
1970 - 1999 53.0
1940 - 1969 22.7
1939 or Older 4.1

Types of Homes

TYPE OF Hermiston HOMES
Single-Family 60.4
Townhomes 2.2
Small Apt. Buildings 9.1
Apt. Complexes 19.2
Mobile Homes 9.1
Other 0.0

Home Size

SIZE OF Hermiston HOMES
No Bedroom 2.75
1 Bedroom 8.76
2 Bedrooms 27.92
3 Bedrooms 46.90
4 Bedrooms 13.20
5 or more bedrooms 0.46

Zip Codes in Hermiston, OR