Redmond, Oregon Housing Market Prices
Redmond 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 41% below the Oregon median$240,125
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Median rent About the same as the Oregon median$1,519
Housing Market Overview
| Metric | Redmond | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $240,125 | $406,603 | $248,835 |
| Price Trend (Annual %) | 68.9% | 9.4% | 7.5% |
| Median Gross Rent | $1,519 | $1,525 | $1,407 |
| Rent Trend (Annual %) | 7.7% | 6.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Redmond is about 41% lower than in Oregon. Rent follows a similar pattern, running close to 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 Redmond, up about 68.9% and 7.7% a year respectively. Home prices are changing faster.
Median rent in Redmond rose about 81.0% between 2015 and 2024, from $839 to $1,519. Over the same span, rent in Oregon rose about 68.2%.
Affordability
On average, housing unit costs 2.9 yearly household incomes in Redmond.
Buying the median-priced home in Redmond costs roughly 13.2 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Redmond. The price-to-rent ratio in Oregon is about 22.2.
| Metric | Redmond | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $240,125 | $406,603 | $248,835 |
| Median Household Income | $82,769 | $83,617 | $80,455 |
| Price-to-Income Ratio | 2.9 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Redmond rose about 743.0%, while median household income rose about 79.1% 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 | Redmond | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.6% | 58.6% | 58.5% |
| Rental Rate | 35.6% | 33.9% | 31.2% |
| Vacancy Rate | 2.8% | 7.5% | 10.2% |
| Median Tenure (years) | 10.0 | 13.0 | 15.0 |
| Median Year Moved In | 2016 | 2013 | 2011 |
Redmond has a homeownership rate of 61.6%, higher than the Oregon average of 58.6%. Its housing vacancy rate is 2.8%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Redmond | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.41 people | 2.53 people |
| Median Structure Built Year | 1996 | 1980 | 1978 |
| Median Number of Rooms | 5.1 | 5.3 | 5.5 |
The typical housing unit in Redmond was built around 1996. On average, 2.6 people live in a home with about 5.1 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Redmond, Oregon.
What is the median home price in Redmond, Oregon?
The median home price in Redmond, Oregon is $240,125, lower than the Oregon average of $406,603.
What is the average home price in Redmond, Oregon?
The typical home price in Redmond, Oregon, reported as the median sale price, is $240,125. 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 Redmond, Oregon?
The median gross rent in Redmond, Oregon is $1,519 per month, about the same as the Oregon average.
What was the median gross rent in Redmond in 2020?
In 2020, the median gross rent in Redmond, Oregon was $1,086 per month.
What is the price-to-rent ratio in Redmond, Oregon?
The price-to-rent ratio in Redmond, Oregon is about 13.2, meaning it would take roughly 13.2 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Redmond.
Are home prices or rent rising faster in Redmond, Oregon?
Both home prices and rent are rising in Redmond, up about 68.9% and 7.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Redmond, Oregon?
61.6% of households in Redmond, Oregon own their home, higher than the Oregon average of 58.6%.
What is the vacancy rate in Redmond, Oregon?
The housing vacancy rate in Redmond, Oregon is 2.8%, lower than the Oregon average of 7.5%.
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