Pendleton, OR Housing Market Trends
With 17,289 people, 6,185 houses or apartments, and a median cost of homes of $357,455, Pendleton real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Pendleton, accounting for 59.07% of the city's housing units. Other types of housing that are prevalent in Pendleton include large apartment complexes or high rise apartments ( 16.09%), duplexes, homes converted to apartments or other small apartment buildings ( 12.07%), and a few mobile homes or trailers ( 6.36%).
People in Pendleton primarily live in small (one, two or no bedroom) single-family detached homes. Pendleton has a mixture of owner-occupied and renter-occupied housing.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Pendleton's housing was primarily built during this period, from the '40s through the '60s. A full 36.52% of the city's housing hails from this era. Other housing ages represented in Pendleton include homes built between 1970-1999 ( 27.82%) and housing constructed before 1939 ( 21.34%). There's also some housing in Pendleton built between 2000 and later ( 14.32%).
Vacant housing appears to be an issue in Pendleton. Fully 12.92% of the housing stock is classified as vacant. Left unchecked, vacant Pendleton homes and apartments can be a drag on the real estate market, holding Pendleton 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.
Pendleton Home Appreciation Rates
Appreciation rates for homes in Pendleton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 97.89%, which ranks in the top 50% nationwide. This equates to an annual average Pendleton house appreciation rate of 7.06%.
Over the last year, Pendleton appreciation rates have trailed the rest of the nation. In the last twelve months, Pendleton's appreciation rate has been 3.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Pendleton were at -1.99%, which equates to an annual appreciation rate of -7.71%.
Notably, Pendleton's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Oregon, our data show that Pendleton's latest annual appreciation rate is higher than 60% 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 Pendleton differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pendleton - 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 Pendleton real estate investment or home purchase decisions.
Median Home Value
$357,455
Low
for Oregon
High
for nation
Number of Homes And Apartments:
6,185
OR
America
2024 Q3 - 2024 Q4
2023 Q4 - 2024 Q4
2022 Q4 - 2024 Q4
2019 Q4 - 2024 Q4
2014 Q4 - 2024 Q4
2000 Q1 - 2024 Q4
Average Market Rent:
$1,269 / per month