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 | Union County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,789 | $406,286 | $242,182 |
| Price Trend (Annual %) | 22.3% | 10.7% | 8.2% |
| Median Gross Rent | $982 | $1,449 | $1,342 |
| Rent Trend (Annual %) | 5.0% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Union County is about 10% lower than in Oregon. Rent is about 32% 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 Union County, up about 22.3% and 5.0% a year respectively. Home prices are changing faster.
Median rent in Union County rose about 39.3% between 2015 and 2023, from $705 to $982. Over the same span, rent in Oregon rose about 59.8%.
Affordability
On average, housing unit costs 5.7 yearly household incomes in Union County.
Buying the median-priced home in Union County costs roughly 31.1 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 Union County. The price-to-rent ratio in Oregon is about 23.4.
| Metric | Union County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $365,789 | $406,286 | $242,182 |
| Median Household Income | $64,121 | $80,923 | $78,145 |
| Price-to-Income Ratio | 5.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Union County rose about 288.1%, while median household income rose about 57.9% 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 | Union County | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.5% | 58.6% | 58.2% |
| Rental Rate | 32.6% | 33.9% | 31.3% |
| Vacancy Rate | 7.9% | 7.5% | 10.6% |
| Median Tenure (years) | 15.0 | 13.0 | 15.0 |
| Median Year Moved In | 2011 | 2013 | 2011 |
Union County has a homeownership rate of 59.5%, higher than the Oregon average of 58.6%. Its housing vacancy rate is 7.9%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Union County | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.36 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1968 | 1980 | 1978 |
| Median Number of Rooms | 5.6 | 5.4 | 5.5 |
The typical housing unit in Union County was built around 1968. On average, 2.4 people live in a home with about 5.6 rooms, staying for about 15.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Union County, Oregon.
What is the median home price in Union County, Oregon?
The median home price in Union County, Oregon is $365,789, lower than the Oregon average of $406,286.
What is the average home price in Union 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 Union County, Oregon?
The median gross rent in Union County, Oregon is $982 per month, lower than the Oregon average of $1,449.
What was the median gross rent in Union County in 2020?
In 2020, the median gross rent in Union County, Oregon was $846 per month.
What is the price-to-rent ratio in Union County, Oregon?
The price-to-rent ratio in Union County, Oregon is about 31.1, meaning it would take roughly 31.1 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 Union County.
Are home prices or rent rising faster in Union County, Oregon?
Both home prices and rent are rising in Union County, up about 22.3% and 5.0% a year respectively. Home prices are changing faster.
What is the homeownership rate in Union County, Oregon?
59.5% of households in Union County, Oregon own their home, higher than the Oregon average of 58.6%.
What is the vacancy rate in Union County, Oregon?
The housing vacancy rate in Union County, Oregon is 7.9%, higher than the Oregon average of 7.5%.