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 Q4 2020. 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

Redmond, OR Housing Market Trends

With a population of 32,421, 11,369 total housing units (homes and apartments), and a median house value of $347,621, Redmond real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Redmond, accounting for 71.38% 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 ( 10.69%), large apartment complexes or high rise apartments ( 7.26%), and a few row houses and other attached homes ( 5.89%).

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 59.49% owning and 40.51% 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 ( 38.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.55%). There's also some housing in Redmond built before 1939 ( 3.50%).

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 138.20% over the last ten years, which is an average annual home appreciation rate of 9.07%, 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 6.77%, which is higher than appreciation rates in 83.63% 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 2.04%, which equates to an annual appreciation rate of 8.43%.

Relative to Oregon, our data show that Redmond's latest annual appreciation rate is higher than 80% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$347,621

Redmond, OR HOME PRICES

> $1,287,000
0.3%
0.3%
$965,001 - $1,287,000
1.4%
1.4%
$643,001 - $965,000
6.2%
6.2%
$515,001 - $643,000
9.4%
9.4%
$386,001 - $515,000
19.9%
19.9%
$257,001 - $386,000
37.5%
37.5%
$128,001 - $257,000
17.1%
17.1%
$64,001 - $128,000
2.3%
2.3%
$0 - $64,000
5.9%
5.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for OR

Value Relative To Nation

Number Of Homes And Apartments:
11,369

Redmond Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
143.58% 4.33%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,301 / per month

Homeownership Rate

Owners
59.5%
59.5%
Renters
40.5%
40.5%
Vacant
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
38.4%
38.4%
1970 - 1999
46.5%
46.5%
1940 - 1969
11.6%
11.6%
1939 or Older
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
71.4%
71.4%
Townhomes
5.9%
5.9%
Small Apt. Buildings
10.7%
10.7%
Apt. Complexes
7.3%
7.3%
Mobile Homes
4.6%
4.6%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1.6%
1.6%
1 Bedroom
5.7%
5.7%
2 Bedrooms
21.5%
21.5%
3 Bedrooms
58.8%
58.8%
4 Bedrooms
10.1%
10.1%
5 or more bedrooms
2.3%
2.3%
0.0% 100.0%
% OF HOMES

Popular Communities Near Redmond, OR

Zip Codes in Redmond, OR