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 | Josephine County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,913 | $406,286 | $242,182 |
| Price Trend (Annual %) | 21.8% | 10.7% | 8.2% |
| Median Gross Rent | $1,156 | $1,449 | $1,342 |
| Rent Trend (Annual %) | 4.8% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Josephine County is about 54% higher than in Oregon. Rent is about 20% lower 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 Josephine County, up about 21.8% and 4.8% a year respectively. Home prices are changing faster.
Median rent in Josephine County rose about 38.2% between 2015 and 2023, from $837 to $1,156. Over the same span, rent in Oregon rose about 59.8%.
Affordability
On average, housing unit costs 10.6 yearly household incomes in Josephine County.
Buying the median-priced home in Josephine County costs roughly 45.0 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 Josephine County. The price-to-rent ratio in Oregon is about 23.4.
| Metric | Josephine County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $624,913 | $406,286 | $242,182 |
| Median Household Income | $59,126 | $80,923 | $78,145 |
| Price-to-Income Ratio | 10.6 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Josephine County rose about 268.9%, while median household income rose about 57.7% 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 | Josephine County | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 66.4% | 58.6% | 58.2% |
| Rental Rate | 26.2% | 33.9% | 31.3% |
| Vacancy Rate | 7.3% | 7.5% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Josephine County has a homeownership rate of 66.4%, higher than the Oregon average of 58.6%. Its housing vacancy rate is 7.3%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Josephine County | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1983 | 1980 | 1978 |
| Median Number of Rooms | 5.3 | 5.4 | 5.5 |
The typical housing unit in Josephine County was built around 1983. On average, 2.4 people live in a home with about 5.3 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Josephine County, Oregon.
What is the median home price in Josephine County, Oregon?
The median home price in Josephine County, Oregon is $624,913, higher than the Oregon average of $406,286.
What is the average home price in Josephine 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 Josephine County, Oregon?
The median gross rent in Josephine County, Oregon is $1,156 per month, lower than the Oregon average of $1,449.
What was the median gross rent in Josephine County in 2020?
In 2020, the median gross rent in Josephine County, Oregon was $930 per month.
What is the price-to-rent ratio in Josephine County, Oregon?
The price-to-rent ratio in Josephine County, Oregon is about 45.0, meaning it would take roughly 45.0 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 Josephine County.
Are home prices or rent rising faster in Josephine County, Oregon?
Both home prices and rent are rising in Josephine County, up about 21.8% and 4.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Josephine County, Oregon?
66.4% of households in Josephine County, Oregon own their home, higher than the Oregon average of 58.6%.
What is the vacancy rate in Josephine County, Oregon?
The housing vacancy rate in Josephine County, Oregon is 7.3%, lower than the Oregon average of 7.5%.