Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Deschutes County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $531,270 | $406,286 | $242,182 |
| Price Trend (Annual %) | 10.4% | 10.7% | 8.2% |
| Median Gross Rent | $1,674 | $1,449 | $1,342 |
| Rent Trend (Annual %) | 7.9% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Deschutes County is about 31% higher than in Oregon. Rent is about 16% higher than the Oregon average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Deschutes County, up about 10.4% and 7.9% a year respectively. Home prices are changing faster.
Median rent in Deschutes County rose about 78.3% between 2015 and 2023, from $939 to $1,674. Over the same span, rent in Oregon rose about 59.8%.
Affordability
On average, housing unit costs 6.0 yearly household incomes in Deschutes County.
Buying the median-priced home in Deschutes County costs roughly 26.4 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 Deschutes County. The price-to-rent ratio in Oregon is about 23.4.
| Metric | Deschutes County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $531,270 | $406,286 | $242,182 |
| Median Household Income | $89,039 | $80,923 | $78,145 |
| Price-to-Income Ratio | 6.0 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Deschutes County rose about 176.4%, while median household income rose about 65.1% between 2009 and 2023 — 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 | Deschutes County | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 60.6% | 58.6% | 58.2% |
| Rental Rate | 25.1% | 33.9% | 31.3% |
| Vacancy Rate | 14.3% | 7.5% | 10.6% |
| Median Tenure (years) | 12.0 | 13.0 | 15.0 |
| Median Year Moved In | 2014 | 2013 | 2011 |
Deschutes County has a homeownership rate of 60.6%, higher than the Oregon average of 58.6%. Its housing vacancy rate is 14.3%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Deschutes County | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1996 | 1980 | 1978 |
| Median Number of Rooms | 5.4 | 5.4 | 5.5 |
The typical housing unit in Deschutes County was built around 1996. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 12.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Deschutes County, Oregon.
What is the median home price in Deschutes County, Oregon?
The median home price in Deschutes County, Oregon is $531,270, higher than the Oregon average of $406,286.
What is the average home price in Deschutes County, Oregon?
The typical home price in %s, reported as the median sale price, is %s. 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 Deschutes County, Oregon?
The median gross rent in Deschutes County, Oregon is $1,674 per month, higher than the Oregon average of $1,449.
What was the median gross rent in Deschutes County in 2020?
In 2020, the median gross rent in Deschutes County, Oregon was $1,306 per month.
What is the price-to-rent ratio in Deschutes County, Oregon?
The price-to-rent ratio in Deschutes County, Oregon is about 26.4, meaning it would take roughly 26.4 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 Deschutes County.
Are home prices or rent rising faster in Deschutes County, Oregon?
Both home prices and rent are rising in Deschutes County, up about 10.4% and 7.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Deschutes County, Oregon?
60.6% of households in Deschutes County, Oregon own their home, higher than the Oregon average of 58.6%.
What is the vacancy rate in Deschutes County, Oregon?
The housing vacancy rate in Deschutes County, Oregon is 14.3%, higher than the Oregon average of 7.5%.