Tillamook, OR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Tillamook, OR Real Estate Data


Tillamook Housing Market Information

With 4,997 people, 1,953 houses or apartments, and a median cost of homes of $250,691, Tillamook real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Tillamook, accounting for 57.22% of the city's housing units. Other types of housing that are prevalent in Tillamook include large apartment complexes or high rise apartments ( 27.02%), duplexes, homes converted to apartments or other small apartment buildings ( 9.77%), and a few row houses and other attached homes ( 3.39%).

The most prevalent building size and type in Tillamook are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 39.44% owning and 60.56% renting.

There is a lot of housing in Tillamook 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 Tillamook built before 1939 ( 30.06%). A lesser amount of the housing stock also hails from between 1940-1969 ( 27.51%). There's also some housing in Tillamook built between 2000 and later ( 8.01%).

Vacant housing appears to be an issue in Tillamook. Fully 14.04% of the housing stock is classified as vacant. Left unchecked, vacant Tillamook homes and apartments can be a drag on the real estate market, holding Tillamook 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.

Tillamook Home Appreciation Rates

Appreciation rates for homes in Tillamook have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.65%, which ranks in the top 50% nationwide. This equates to an annual average Tillamook house appreciation rate of 0.46%.

Appreciation rates are so strong in Tillamook that despite a nationwide downturn in the housing market, Tillamook real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tillamook appreciation rates continue to be some of the highest in America, at 8.28%, which is higher than appreciation rates in 92.89% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tillamook. Tillamook appreciation rates in the latest quarter were at 4.15%, which equates to an annual appreciation rate of 17.68%.

Importantly, this makes Tillamook 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 Tillamook's latest annual appreciation rate is higher than 50% of the other cities and towns in Oregon.

Average Home Values

 

Median Home Value:
$250,691

Tillamook, OR HOME PRICES

Value Range
> $1,227,000 0.5
$920,001 - $1,227,000 0.3
$613,001 - $920,000 2.1
$491,001 - $613,000 3.9
$368,001 - $491,000 14.6
$245,001 - $368,000 23.9
$123,001 - $245,000 44.5
$62,001 - $123,000 5.1
$0 - $62,000 5.1

Average for OR
High for Nation

Value Relative to Nation Value Relative to State
23.0485448263747 57.487922705314

Number Of Homes And Apartments:
1,953

Rent & Ownership

 

Average Market Rent:
$1,117 / per month

Homeownership Rate

Homeownership
Owners 39.44
Renters 60.56
Vacant 14.04

Housing Market Details

 

Age of Homes

AGE OF Tillamook HOMES
2000 or Newer 8.0
1970 - 1999 34.4
1940 - 1969 27.5
1939 or Older 30.1

Types of Homes

TYPE OF Tillamook HOMES
Single-Family 57.2
Townhomes 3.4
Small Apt. Buildings 9.8
Apt. Complexes 27.0
Mobile Homes 2.6
Other 0.0

Home Size

SIZE OF Tillamook HOMES
No Bedroom 4.18
1 Bedroom 19.23
2 Bedrooms 22.01
3 Bedrooms 40.49
4 Bedrooms 9.46
5 or more bedrooms 4.62

Tillamook Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OR*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
56.06% 2.65% 3 7
* 10 is highest

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Zip Codes in Tillamook, OR