Corvallis, Oregon Housing Market Prices
Corvallis 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 30% above the Oregon median$528,509
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Median rent 13% below the Oregon median$1,326
Housing Market Overview
| Metric | Corvallis | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $528,509 | $406,603 | $248,835 |
| Price Trend (Annual %) | 32.7% | 9.4% | 7.5% |
| Median Gross Rent | $1,326 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Corvallis is about 30% higher than in Oregon. Rent is about 13% lower 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 Corvallis, up about 32.7% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Corvallis rose about 58.6% between 2015 and 2024, from $836 to $1,326. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 8.9 yearly household incomes in Corvallis.
Buying the median-priced home in Corvallis costs roughly 33.2 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 Corvallis. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Corvallis | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $528,509 | $406,603 | $248,835 |
| Median Household Income | $59,353 | $83,617 | $80,455 |
| Price-to-Income Ratio | 8.9 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Corvallis rose about 181.0%, while median household income rose about 84.8% 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 | Corvallis | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 35.5% | 58.6% | 58.5% |
| Rental Rate | 57.6% | 33.9% | 31.2% |
| Vacancy Rate | 6.9% | 7.5% | 10.2% |
| Median Tenure (years) | 9.0 | 13.0 | 15.0 |
| Median Year Moved In | 2017 | 2013 | 2011 |
Corvallis has a homeownership rate of 35.5%, lower than the Oregon average of 58.6%. Its housing vacancy rate is 6.9%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Corvallis | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.19 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1976 | 1980 | 1978 |
| Median Number of Rooms | 4.8 | 5.3 | 5.5 |
The typical housing unit in Corvallis was built around 1976. On average, 2.2 people live in a home with about 4.8 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Corvallis, Oregon.
What is the median home price in Corvallis, Oregon?
The median home price in Corvallis, Oregon is $528,509, higher than the Oregon average of $406,603.
What is the average home price in Corvallis, Oregon?
The typical home price in Corvallis, Oregon, reported as the median sale price, is $528,509. 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 Corvallis, Oregon?
The median gross rent in Corvallis, Oregon is $1,326 per month, lower than the Oregon average of $1,525.
What was the median gross rent in Corvallis in 2020?
In 2020, the median gross rent in Corvallis, Oregon was $1,087 per month.
What is the price-to-rent ratio in Corvallis, Oregon?
The price-to-rent ratio in Corvallis, Oregon is about 33.2, meaning it would take roughly 33.2 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 Corvallis.
Are home prices or rent rising faster in Corvallis, Oregon?
Both home prices and rent are rising in Corvallis, up about 32.7% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Corvallis, Oregon?
35.5% of households in Corvallis, Oregon own their home, lower than the Oregon average of 58.6%.
What is the vacancy rate in Corvallis, Oregon?
The housing vacancy rate in Corvallis, Oregon is 6.9%, lower than the Oregon average of 7.5%.
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