Redmond, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Redmond, OR Real Estate Data

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 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Redmond Housing Market Information

With a population of 29,322, 10,696 total housing units (homes and apartments), and a median house value of $325,108, 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 65.55% 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 ( 13.55%), large apartment complexes or high rise apartments ( 8.80%), and a few row houses and other attached homes ( 6.52%).

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 52.63% owning and 47.37% 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 ( 39.68%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.01%). There's also some housing in Redmond built before 1939 ( 3.99%).

Redmond Home Appreciation Rates

Appreciation rates for homes in Redmond have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 16.38%, which ranks in the top 40% nationwide. This equates to an annual average Redmond house appreciation rate of 1.53%.

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 6.78%, which is higher than appreciation rates in 74.14% 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 2.44%, which equates to an annual appreciation rate of 10.11%.

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

Average Home Values

 

Median Home Value:
$325,108

Redmond, OR HOME PRICES

Value Range
> $1,543,000 0.1
$1,158,001 - $1,543,000 0.1
$772,001 - $1,158,000 3.8
$617,001 - $772,000 4.5
$463,001 - $617,000 9.2
$309,001 - $463,000 34.2
$154,001 - $309,000 31.7
$77,001 - $154,000 9.3
$0 - $77,000 6.9

High for OR
Very High for Nation

Value Relative to Nation Value Relative to State
16.2102189781022 34.7826086956522

Number Of Homes And Apartments:
10,696

Redmond Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
111.21% 4.12%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,319 / per month

Homeownership Rate

Homeownership
Owners 52.63
Renters 47.37
Vacant 6.31

Housing Market Details

 

Age of Homes

AGE OF Redmond HOMES
2000 or Newer 39.7
1970 - 1999 45.3
1940 - 1969 11.0
1939 or Older 4.0

Types of Homes

TYPE OF Redmond HOMES
Single-Family 65.5
Townhomes 6.5
Small Apt. Buildings 13.6
Apt. Complexes 8.8
Mobile Homes 5.6
Other 0.0

Home Size

SIZE OF Redmond HOMES
No Bedroom 1.65
1 Bedroom 3.83
2 Bedrooms 23.89
3 Bedrooms 59.87
4 Bedrooms 8.97
5 or more bedrooms 1.80

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Zip Codes in Redmond, OR