Madras, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Madras, OR Real Estate Data


Madras Housing Market Information

With a population of 6,662, 2,363 total housing units (homes and apartments), and a median house value of $154,878, Madras real estate values are some of the lowest in Oregon, although compared to real estate around the nation, Madras homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Madras, accounting for 53.40% of the city's housing units. Other types of housing that are prevalent in Madras include large apartment complexes or high rise apartments ( 15.12%), mobile homes or trailers ( 14.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 13.42%).

The most prevalent building size and type in Madras are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 42.02% owning and 57.98% renting.

There is a lot of housing in Madras 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 Madras built between 1940-1969 ( 24.53%). A lesser amount of the housing stock also hails from between 2000 and later ( 22.85%).

Vacant housing appears to be an issue in Madras. Fully 12.19% of the housing stock is classified as vacant. Left unchecked, vacant Madras homes and apartments can be a drag on the real estate market, holding Madras real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Madras Home Appreciation Rates

Homes have actually lost value in Madras over the last then years, as home values have seen a decline of 20.25% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Madras home appreciation rates at 1.08%, which equates to an annual appreciation rate of 4.40%.

Appreciation rates are so strong in Madras that despite a nationwide downturn in the housing market, Madras real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Madras appreciation rates continue to be some of the highest in America, at 7.84%, which is higher than appreciation rates in 90.62% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Madras. Madras appreciation rates in the latest quarter were at 1.08%, which equates to an annual appreciation rate of 4.40%.

Relative to Oregon, our data show that Madras's latest annual appreciation rate is lower than 50% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$154,878

Madras, OR HOME PRICES

Value Range
> $1,306,000 1.8
$979,001 - $1,306,000 0.4
$653,001 - $979,000 3.7
$522,001 - $653,000 1.8
$392,001 - $522,000 2.8
$261,001 - $392,000 18.3
$131,001 - $261,000 28.7
$65,001 - $131,000 31.8
$0 - $65,000 10.6

Very Low for OR
Average for Nation

Value Relative to Nation Value Relative to State
48.6209521578732 95.1690821256039

Number Of Homes And Apartments:
2,363

Rent & Ownership

 

Average Market Rent:
$891 / per month

Homeownership Rate

Homeownership
Owners 42.02
Renters 57.98
Vacant 12.19

Housing Market Details

 

Age of Homes

AGE OF Madras HOMES
2000 or Newer 22.9
1970 - 1999 51.7
1940 - 1969 24.5
1939 or Older 0.9

Types of Homes

TYPE OF Madras HOMES
Single-Family 53.4
Townhomes 2.0
Small Apt. Buildings 13.4
Apt. Complexes 15.1
Mobile Homes 14.3
Other 1.7

Home Size

SIZE OF Madras HOMES
No Bedroom 3.72
1 Bedroom 10.48
2 Bedrooms 28.84
3 Bedrooms 47.27
4 Bedrooms 9.33
5 or more bedrooms 0.37

Madras Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
21.17% 1.14% 1 2
* 10 is highest

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Zip Codes in Madras, OR