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Redmond, 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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

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

Redmond, OR Housing Market Trends

With a population of 33,274, 11,850 total housing units (homes and apartments), and a median house value of $465,065, real estate costs in Redmond 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 Redmond, accounting for 73.12% of the city's housing units. Other types of housing that are prevalent in Redmond include duplexes, homes converted to apartments or other small apartment buildings ( 9.97%), large apartment complexes or high rise apartments ( 7.90%), and a few row houses and other attached homes ( 4.87%).

The most prevalent building size and type in Redmond are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 61.96% owning and 38.04% renting.

There is a lot of housing in Redmond 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 Redmond built between 2000 and later ( 41.27%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.43%). There's also some housing in Redmond built before 1939 ( 2.20%).

Redmond Home Appreciation Rates

In the last 10 years, Redmond has experienced some of the highest home appreciation rates of any community in the nation. Redmond real estate appreciated 254.71% over the last ten years, which is an average annual home appreciation rate of 13.50%, putting Redmond in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Redmond 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 Redmond that despite a nationwide downturn in the housing market, Redmond real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Redmond appreciation rates continue to be some of the highest in America, at 18.68%, which is higher than appreciation rates in 78.58% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Redmond. Redmond appreciation rates in the latest quarter were at 2.56%, which equates to an annual appreciation rate of 10.64%.

Relative to Oregon, our data show that Redmond's latest annual appreciation rate is higher than 70% 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 Redmond differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Redmond - 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 Redmond real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$465,065

Redmond, OR HOME PRICES

> $1,615,000
$1,212,001 - $1,615,000
$808,001 - $1,212,000
$646,001 - $808,000
$485,001 - $646,000
$323,001 - $485,000
$161,001 - $323,000
$81,001 - $161,000
$0 - $81,000
0.0%
0.0%
0.9%
0.9%
5.5%
5.5%
9.2%
9.2%
27.2%
27.2%
38.6%
38.6%
11.8%
11.8%
2.8%
2.8%
4.0%
4.0%
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:
11,850

Redmond Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
235.13% 5.52%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,999 / per month

Homeownership Rate

Owners
Renters
Vacant
62.0%
62.0%
38.0%
38.0%
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
41.3%
41.3%
44.1%
44.1%
12.4%
12.4%
2.2%
2.2%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
73.1%
73.1%
4.9%
4.9%
10.0%
10.0%
7.9%
7.9%
4.0%
4.0%
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.8%
0.8%
6.3%
6.3%
22.4%
22.4%
58.4%
58.4%
10.6%
10.6%
1.5%
1.5%
0.0% 100.0%
% OF HOMES