Bend, Oregon Housing Market Prices
Bend Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 74% above the Oregon median$708,676
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Median rent 21% above the Oregon median$1,840
Housing Market Overview
| Metric | Bend | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $708,676 | $406,603 | $248,835 |
| Price Trend (Annual %) | 10.5% | 9.4% | 7.5% |
| Median Gross Rent | $1,840 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 8.1% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Bend is about 74% higher than in Oregon. Rent is about 21% higher than the Oregon average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Bend, up about 10.5% and 8.1% a year respectively. Home prices are changing faster.
Median rent in Bend rose about 99.3% between 2015 and 2024, from $924 to $1,840. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 7.5 yearly household incomes in Bend.
Buying the median-priced home in Bend costs roughly 32.1 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bend. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Bend | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $708,676 | $406,603 | $248,835 |
| Median Household Income | $94,140 | $83,617 | $80,455 |
| Price-to-Income Ratio | 7.5 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Bend rose about 198.9%, while median household income rose about 61.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Bend | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.9% | 58.6% | 58.5% |
| Rental Rate | 36.5% | 33.9% | 31.2% |
| Vacancy Rate | 7.6% | 7.5% | 10.2% |
| Median Tenure (years) | 9.0 | 13.0 | 15.0 |
| Median Year Moved In | 2017 | 2013 | 2011 |
Bend has a homeownership rate of 55.9%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 7.6%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Bend | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.30 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1998 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.3 | 5.5 |
The typical housing unit in Bend was built around 1998. On average, 2.3 people live in a home with about 5.2 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Bend, Oregon.
What is the median home price in Bend, Oregon?
The median home price in Bend, Oregon is $708,676, higher than the Oregon average of $406,603.
What is the average home price in Bend, Oregon?
The typical home price in Bend, Oregon, reported as the median sale price, is $708,676. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Bend, Oregon?
The median gross rent in Bend, Oregon is $1,840 per month, higher than the Oregon average of $1,525.
What was the median gross rent in Bend in 2020?
In 2020, the median gross rent in Bend, Oregon was $1,357 per month.
What is the price-to-rent ratio in Bend, Oregon?
The price-to-rent ratio in Bend, Oregon is about 32.1, meaning it would take roughly 32.1 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Bend.
Are home prices or rent rising faster in Bend, Oregon?
Both home prices and rent are rising in Bend, up about 10.5% and 8.1% a year respectively. Home prices are changing faster.
What is the homeownership rate in Bend, Oregon?
55.9% of households in Bend, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Bend, Oregon?
The housing vacancy rate in Bend, Oregon is 7.6%, higher than the Oregon average of 7.5%.
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