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 | Wallowa County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,136 | $406,286 | $242,182 |
| Price Trend (Annual %) | 16.7% | 10.7% | 8.2% |
| Median Gross Rent | $858 | $1,449 | $1,342 |
| Rent Trend (Annual %) | 3.3% | 6.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Wallowa County is about 57% lower than in Oregon. Rent is about 41% 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 Wallowa County, up about 16.7% and 3.3% a year respectively. Home prices are changing faster.
Median rent in Wallowa County rose about 30.8% between 2015 and 2023, from $656 to $858. Over the same span, rent in Oregon rose about 59.8%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Wallowa County.
Buying the median-priced home in Wallowa County costs roughly 17.1 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wallowa County. The price-to-rent ratio in Oregon is about 23.4.
| Metric | Wallowa County | Oregon Avg | US Average |
|---|---|---|---|
| Median Home Price | $176,136 | $406,286 | $242,182 |
| Median Household Income | $64,300 | $80,923 | $78,145 |
| Price-to-Income Ratio | 2.7 | 5.0 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Wallowa County fell about 43.3%, while median household income rose about 54.9% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Wallowa County | Oregon Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 59.2% | 58.6% | 58.2% |
| Rental Rate | 18.3% | 33.9% | 31.3% |
| Vacancy Rate | 22.6% | 7.5% | 10.6% |
| Median Tenure (years) | 16.0 | 13.0 | 15.0 |
| Median Year Moved In | 2010 | 2013 | 2011 |
Wallowa County has a homeownership rate of 59.2%, higher than the Oregon average of 58.6%. Its housing vacancy rate is 22.6%, compared with 7.5% in Oregon.
Housing Stock
| Metric | Wallowa County | Oregon Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.21 people | 2.44 people | 2.54 people |
| Median Structure Built Year | 1974 | 1980 | 1978 |
| Median Number of Rooms | 5.2 | 5.4 | 5.5 |
The typical housing unit in Wallowa County was built around 1974. On average, 2.2 people live in a home with about 5.2 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Wallowa County, Oregon.
What is the median home price in Wallowa County, Oregon?
The median home price in Wallowa County, Oregon is $176,136, lower than the Oregon average of $406,286.
What is the average home price in Wallowa 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 Wallowa County, Oregon?
The median gross rent in Wallowa County, Oregon is $858 per month, lower than the Oregon average of $1,449.
What was the median gross rent in Wallowa County in 2020?
In 2020, the median gross rent in Wallowa County, Oregon was $737 per month.
What is the price-to-rent ratio in Wallowa County, Oregon?
The price-to-rent ratio in Wallowa County, Oregon is about 17.1, meaning it would take roughly 17.1 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Wallowa County.
Are home prices or rent rising faster in Wallowa County, Oregon?
Both home prices and rent are rising in Wallowa County, up about 16.7% and 3.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Wallowa County, Oregon?
59.2% of households in Wallowa County, Oregon own their home, higher than the Oregon average of 58.6%.
What is the vacancy rate in Wallowa County, Oregon?
The housing vacancy rate in Wallowa County, Oregon is 22.6%, higher than the Oregon average of 7.5%.