Prineville, OR Real Estate Market

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 Q3 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Prineville, OR Housing Market Trends

With 10,736 people, 4,309 houses or apartments, and a median cost of homes of $437,678, real estate costs in Prineville 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 Prineville, accounting for 65.12% of the city's housing units. Other types of housing that are prevalent in Prineville include duplexes, homes converted to apartments or other small apartment buildings ( 11.88%), large apartment complexes or high rise apartments ( 11.30%), and a few mobile homes or trailers ( 8.34%).

The most prevalent building size and type in Prineville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 54.26% owning and 45.74% renting.

There is a lot of housing in Prineville 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 Prineville built between 1940-1969 ( 26.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 19.34%). There's also some housing in Prineville built before 1939 ( 9.82%).

Prineville Home Appreciation Rates

In the last 10 years, Prineville has experienced some of the highest home appreciation rates of any community in the nation. Prineville real estate appreciated 167.11% over the last ten years, which is an average annual home appreciation rate of 10.32%, putting Prineville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Prineville 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 Prineville that despite a nationwide downturn in the housing market, Prineville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Prineville appreciation rates continue to be some of the highest in America, at 20.81%, which is higher than appreciation rates in 94.68% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Prineville. Prineville appreciation rates in the latest quarter were at 7.80%, which equates to an annual appreciation rate of 35.06%.

Importantly, this makes Prineville 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 Prineville's latest annual appreciation rate is higher than 60% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$437,678

Prineville, OR HOME PRICES

> $1,563,000
1.9%
1.9%
$1,173,001 - $1,563,000
5.6%
5.6%
$782,001 - $1,173,000
7.6%
7.6%
$625,001 - $782,000
7.3%
7.3%
$469,001 - $625,000
13.7%
13.7%
$313,001 - $469,000
27.4%
27.4%
$157,001 - $313,000
25.4%
25.4%
$78,001 - $157,000
5.1%
5.1%
$0 - $78,000
5.9%
5.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

High for OR

Value Relative To Nation

Number Of Homes And Apartments:
4,309

Prineville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2021 Q2 - 2021 Q3
Last 12 Months:
2020 Q3 - 2021 Q3
Last 2 Years:
2019 Q3 - 2021 Q3
Last 5 Years:
2016 Q3 - 2021 Q3
Last 10 Years:
2011 Q3 - 2021 Q3
Since 2000:
2000 Q1 - 2021 Q3
193.05% 5.07%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,437 / per month

Homeownership Rate

Owners
54.3%
54.3%
Renters
45.7%
45.7%
Vacant
4.9%
4.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
19.3%
19.3%
1970 - 1999
44.6%
44.6%
1940 - 1969
26.2%
26.2%
1939 or Older
9.8%
9.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
65.1%
65.1%
Townhomes
2.5%
2.5%
Small Apt. Buildings
11.9%
11.9%
Apt. Complexes
11.3%
11.3%
Mobile Homes
8.3%
8.3%
Other
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.5%
3.5%
1 Bedroom
11.1%
11.1%
2 Bedrooms
27.5%
27.5%
3 Bedrooms
46.4%
46.4%
4 Bedrooms
10.8%
10.8%
5 or more bedrooms
0.8%
0.8%
0.0% 100.0%
% OF HOMES

Popular Communities Near Prineville, OR

Zip Codes in Prineville, OR